In a major first term victory, N.Y. Gov. Spitzer struck a deal with legislative leaders to reform the state’s workers’ compensation system, a deal that had the backing of business and labor. Benefits for injured workers will be increased for the first time in more than a decade, and employer costs, previously among the highest in the nation, will drop 10 to 15 percent. The plan called for changes in the current Compensation Insurance Rating Board, new anti-fraud measures and the closing of the state’s Second Injury Fund. In July, the state announced rates for workers’ compensation insurance would shrink by more than 20 percent — the biggest cut in more than 20 years — saving employers about $1 billion.
Topics Workers' Compensation
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