Insurance Cos. Challenge NY Workers' Comp Law Amendment

Law360, Los Angeles (July 30, 2013, 8:03 PM ET) -- A group of 20 insurance companies on Tuesday sued the state of New York to challenge the constitutionality of an amendment to the state Workers' Compensation Law that will close the statewide fund for reopened cases, saying the amendment will result in up to $1.6 billion in retroactive liability for insurers.

The insurance companies hit New York and several state agencies with contract violation, due process and unconstitutional taking claims, arguing that the amendment serves no purpose and will result in an enormous financial burden on private insurers, self-insured companies and the New York...
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