compensation industry with levels of significant competence ranging from 10 to over 30 years specifically with the second injury fund. Such experience adds to the increased professional stature and ability to resolve complex claims of this agency. Over the past several years, litigation costs have somewhat stabilized even though the caseloads for each attorney have become increasingly more complex. The chart below illustrates the steady level of annual fees and costs for legal representation of the ISIF. Costs FY 2009 590,741 10 737,962 11 493,173 12 597,368 13 636,929 14 599,901 15 598,694 16 558,405 17 508,234 Such a is largely due to the active participation by ISIF administrative staff in all phases of each case with the attorney assigned to represent the ISIF. This active involvement has led to more efficient representation by outside counsel directing resources to meaningful defense strategies and more successful outcomes with settlements prior to hearing and contested cases. Thus, total litigation costs comprised of attorney fees and costs, monthly beneficiary payments, and final settlement payments have experienced a modest upward trend in the past few years. With all factors being considered, an overall increase of 19.4% during this nine-year period is quite acceptable with an annualized average of 2.2% each year. An illustration of these costs is set out below: Total Litigation Costs FY 2009 3,584,315 10 4,145,446 11 4,085,702
compensation industry with levels of significant competence ranging from 10 to over 30 years specifically with the second injury fund. Such experience adds to the increased professional stature and ability to resolve complex claims of this agency. Over the past several years, litigation costs have somewhat stabilized even though the caseloads for each attorney have become increasingly more complex. The chart below illustrates the steady level of annual fees and costs for legal representation of the ISIF. Costs FY 2009 590,741 10 737,962 11 493,173 12 597,368 13 636,929 14 599,901 15 598,694 16 558,405 17 508,234 Such a is largely due to the active participation by ISIF administrative staff in all phases of each case with the attorney assigned to represent the ISIF. This active involvement has led to more efficient representation by outside counsel directing resources to meaningful defense strategies and more successful outcomes with settlements prior to hearing and contested cases. Thus, total litigation costs comprised of attorney fees and costs, monthly beneficiary payments, and final settlement payments have experienced a modest upward trend in the past few years. With all factors being considered, an overall increase of 19.4% during this nine-year period is quite acceptable with an annualized average of 2.2% each year. An illustration of these costs is set out below: Total Litigation Costs FY 2009 3,584,315 10 4,145,446 11 4,085,702
Annual-Report-ISIF-FY-2017.docx