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Indiana's largest teachers union wants to stop offering school districts its own health and long-term disability insurance in July following the state's discovery of questionable investments involving the union's insurance trust.
A state order issued this month says the Indiana State Teachers Association's Insurance Trust has a net worth of negative $67 million.
The state Department of Insurance found that some trust investments had "disturbingly low liquidity" and that too much was put in private investments that are not publicly traded.
State Insurance Commissioner Jim Atterholt says that state would never allow those type of private investments for a regulated insurance company.
Two ISTA insurance trust managers recently left their jobs with ISTA, although the reasons behind those personnel changes are unclear.
A state order issued this month says the Indiana State Teachers Association's Insurance Trust has a net worth of negative $67 million.
The state Department of Insurance found that some trust investments had "disturbingly low liquidity" and that too much was put in private investments that are not publicly traded.
State Insurance Commissioner Jim Atterholt says that state would never allow those type of private investments for a regulated insurance company.
Two ISTA insurance trust managers recently left their jobs with ISTA, although the reasons behind those personnel changes are unclear.
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