A New Hampshire Senate bill dealing with the interest rates on workers’ compensation awards is on the House floor this week and
NAII is reportedly hopeful the measure will pass.
“By bringing workers’ compensation interest rates in line with civil judgments, the New Hampshire legislature is endorsing a more equitable system,” said Gerald Zimmerman, senior counsel for the National Association of Independent Insurers (NAII).
S.B. 82 will reportedly bring the interest rate on workers’ compensation judgments to the same rate as civil judgments. Although this rate fluctuates annually, it is currently less than 5 percent, while the current workers’ compensation interest rate is 10 percent.
The bill also specifies when workers’ compensation interest is due, when the claimant is entitled to interest on awards, and when a claimant is entitled to attorneys’ fees in appeal under workers’ compensation.
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