New York State to Lower Workers’ Comp Premiums for Businesses by 1.2%

July 18, 2012

  • July 18, 2012 at 3:57 pm
    Rusty says:
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    It just sounds so politically expedient, especially given the disparity between the rate increase sought and the reduction being given. I am often suspicious about politicians ordering changes like this, rather than seeing reductions recommended by the WCB itself in light of favorable experience. (Of course with fewer workers today, there are undoubtedly fewer injuries, but medical costs still outpace inflation, too.) I wonder whether this is just an artificial reduction to make it appear that someone is doing something about the cost of doing business here, or if we simply kicking the can down the road again. I would be more of a believer if I had information about the actual overall experience and/or that the WCB was tightening down on decisions about awarding benefits.

  • July 21, 2012 at 6:38 am
    Veteran insider says:
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    Benjamin Lawsky & his boss Cuomo announce a trivial reduction in premiums and this is deserving of a headline? Does anyone really think that this will have any effect on hiring or the further exodus of jobs from NYS?
    The 2007 so called reform law is a disaster. Benefits were increased without any cost savings. The NYSIF is a clown car, that pays soft tissue injuries for years & does nothing to control waste, fraud or abuse. The plaintiff bar, funnels campaign contributions to Cuomo & he in turn issues nonsensical press releases to cover up the arrangement.
    I have litigated hundreds of liability cases with WC liens, over the past several years & have seen this first hand.



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