New York employers workers' compensation premiums will be $400m lowerStaff Writer | May 15, 2017
The New York Compensation Insurance Rating Board, a non-governmental rate service organization has submitted an overall workers’ compensation rate decrease of approximately 4.5 percent.
Empire State Compensation Insurance Rating Board
In its rate filing, CIRB attributed the reduction in premium rates to certain cost savings measures passed as part of the 2018 budget and general system savings spearheaded by the New York State Workers’ Compensation Board.
The rate submission must still be reviewed and approved by the Department of Financial Services and, if approved, would become effective October 1, 2017. ■