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Md. treasurer, auditors continue wrangling over how to handle worker compensation insurance

By Charlie HaywardAuditors have found continuing problems with how the Maryland State Treasurer’s Office handles workers compensation insurance payments and claims for state employees amounting to $268 million over the past three years.

The legislative auditors said the treasurer’s office didn’t verify payments to the Injured Workers Insurance Fund or assure the contract for IWIF’s services is consistent with services actually performed. The office also did not try to reduce workers comp losses by assessing the claims data or get those data to the agencies ultimately incurring the claim expenses, so they could cut claims losses.

The Office of Legislative Audits (OLA) reported these longstanding findings in its latest audit of the State Treasurer’s Office (STO). They also found other problems with transfers of interest earnings, and modernizing two cash-disbursements internal controls.

– See more at: http://marylandreporter.com/2014/08/14/md-treasurer-auditors-continue-wrangling-over-how-to-handle-worker-compensation-insurance/#sthash.WdnT5dgN.dpuf

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