West Virginia state fund threatened with insolvency. (Up Front).

The 89 year-old West Virginia workers' compensation fund is approaching insolvency, according to government reports and private sector observers. Governor Bob Wise and legislative leaders have pledged to take corrective action in the current legislative session.

In the absence of premium increases or alternative financial relief, the Fund, one of five monopolistic state funds in the United States, could run out of cash by calendar year 2004. This projection was made by Michael Keener, senior vice president of Acordia Employers Service, a leading third-party administrato