Mr. Carl Buzz Cummins III

Carl "Buzz" Cummins, President and CEO, Workers Compensation Reinsurance Association. He has practiced law, served as legal counsel to Governor Al Quie and was responsible for government, regulatory and community affairs at Minnegasco. He has served on the boards of Allina Hospitals and Clinics, the Citizens League; United Hospital, Park Square Theater and Minnesotans for Impartial Courts.

John Hottinger & Carl Cummins: Runoff elections? Yes, please -- but make them instant
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John Hottinger, a former state senator, and Carl Cummins, a former president of the Citizens League, are members of the FairVote Minnesota Board of Directors.

Carl Cummins, CEO of WCRA, says the decision to move the assets when the team switched employers was simple."We had hired this team because of their professional skills and with the team departing we thought it was prudent to move our money," he says.

John Hottinger & Carl Cummins: Runoff elections?
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John Hottinger, a former state senator, and Carl Cummins, a former president of the Citizens League, are members of the FairVote Minnesota Board of Directors.

Mr. Carl Cummins III, WCRA President, presented a Workers Compensation Reinsurance Association (WCRA) premium update.In 2006, it was discovered that a major TPA had fallen behind in reporting claims.

But interim WCRA President Carl Cummins said he thinks the state should think twice about ending the association's mandate.

"There are a lot of workers' compensation funds run by state agencies that have gone in and out of debt," said Cummins, who has been WCRA vice president and general counsel."We think we've done a pretty good job."

Both Benanav and Carl Cummins , WCRA's vice president and general counsel , also maintained that the agency has been prudent in controlling its costs and has provided $1.25 billion in rebates to its customers , which exceeds the $950 million in premiums they have paid over the last 22 years.Still , premiums and investment income have been adequate to build up a reserve of more than $1 billion to guard against unexpected losses.

Both also said WCRA has been forthcoming in response to legislative inquiries about its operating expenses , salaries and travel.Cummins said he testified before a Senate committee in November 1999 and responded to every question , even disclosing Benanav's salary at the time -- $175 , 000 a year.Cummins said he doesn't know Benanav's current salary and Benanav himself refuses to say , arguing that it shouldn't be a topic for newspaper coverage.''.

Business groups say many smaller employers believe WCRA has been a good deal for them , providing them with lower insurance rates than they otherwise might pay.

Carl Cummins, WCRA president, said that the association is able to limit its rate increases because they are based solely on the workers' compensation claims experience of Minnesota employers."The events of Sept. 11 have had little effect on Minnesota reinsurance rates," he said."Nationally, however, private reinsurers have raised rates by 50 percent to 100 percent, and double- digit rate increases are expected to continue."Minnesota is the only state in the nation with a state-authorized workers' compensation reinsurance organization.

Cummins noted that the WCRA was formed to ensure the long-term availability of workers' compensation reinsurance in Minnesota at reasonable and stable rates."The WCRA is truly demonstrating its value to all participants in the Minnesota workers' compensation system.Since 9/11, while commercial reinsurance rates have soared, our rates have actually declined by nearly 7 percent.Today, the WCRA's rates are actually lower than they were in 1998."

Terrorism Coverage Continues

The WCRA also will continue to provide reinsurance coverage for any future terrorism losses.
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Cummins said, "Over the past year, many reinsurers have raised prices and tightened conditions on the contracts they negotiate.By continuing terrorism coverage and by making reinsurance available to all insurers and self-insurers, the WCRA not only provides stability in the Minnesota workers' compensation market, it provides financial security for the state's employers and injured workers."

Minnesota law requires all workers' compensation insurers and all self- insured employers to purchase reinsurance coverage for large claims from the WCRA, a not-for-profit, tax-exempt association created by the Legislature in 1979.It has paid benefits on behalf of more than 3,000 of the state's most seriously injured workers since its formation.The WCRA has also refunded $1.23 billion in surplus funds directly to Minnesota employers and its insurer members since 1992.Last year the association returned $163 million to more than 99,000 Minnesota employers.