NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com | CompSource sale bill dead for the year
Associated Press - March 10, 2010 4:35 PM ET
OKLAHOMA CITY (AP) - The author of legislation that would allow the sale of Oklahoma's workers' compensation insurance agency says the bill is dead for the year.
Rep. Dan Sullivan of Tulsa said Wednesday he does not have enough votes to pass the bill in the 101-member House. But Sullivan says he plans to continue studying the idea of privatizing CompSource Oklahoma.
Sullivan and others who favor selling CompSource says its status as a state agency gives it an economic advantage over private insurers and that the state should not be in the business of writing insurance.
But opponents have expressed concern that privatization could erode CompSource's status as the state's workers' compensation insurer of last resort and force dramatic increases in workers' comp insurance rates.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
