N.Y. to Hear 9.5% Workers' Comp Rate Hike
East News • December 30, 2004
The New York State Insurance Department has scheduled a public hearing for Friday, Jan. 7, 2005 to consider the application of the New York Compensation Insurance Rating Board for a workers' ...
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Subject: WC Rate Increase?
Posted On: December 30, 2004, 2:05 pm CST
Posted By: Karen
Comment:
Well, we almost guarantee the outcome of this rate increase request. Unless Serio wants to be a bad guy before he leaves office and/or Mr.Pataki changes his attitude towards WC rates, nothing is going to happen on this request for a rate change. All of us in the insurance arena understand that the rates must be reasonably increased to improve the profitability of this line of business in our state and to improve the availability of coverage. However, the business community cannot afford to pay higher WC rates and the governor will continue to offer an increase in the assessment fee in lieu of a direct rate increase to offset this request.
Subject: WC Rate Increase?