The New York Compensation Insurance Rating Board has withdrawn its proposed rate increase of 9.5 percent, which means that workers’ compensation rates will remain at their current levels through Oct. 1, 2005. NYCIRB originally sought last year a 29.3 percent increase in workers’ compensation insurance rates, which was rejected by the New York State Insurance Department in July 2004. The department rejected that filing. The insurers’ rating bureau subsequently reduced its request to 9.5 percent. That rate request was the topic of a public hearing earlier this year. The NYCIRB compiles and evaluates data from all of the state’s workers’ comp insurers in making its rate filings.
Topics Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Florida, Louisiana Insurer Safepoint Reveals 97% Revenue Surge in IPO filing 
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
Maryland Announces $2.5 Billion Settlement Over Baltimore Bridge Collapse 
South Florida Police Officers Sue Actors, Say Details in ‘The Rip’ Are Too Real From This Issue
