7.7 Percent Workers Comp Rate Hike Proposed for New York
The state Insurance Department says it will hold a public hearing June 23 to consider the increase.
The New York Compensation Insurance Rating Board is seeking a 7.7 percent workers’ compensation rate increase that would be effective October 1 if approved.
The New York State Insurance Department said Tuesday, June 2, that it will hold a public hearing June 23 to consider the increase.
New York state law requires the insurance superintendent to “hold a public hearing if a rate service organization makes a loss cost filing for workers compensation that is an increase of 7 percent or more over the approved loss costs from the prior year,” the state insurance department said in a statement.
Filed by Roberto Ceniceros of Business Insurance, a sister publication of Workforce Management. To comment, e-mail email@example.com.
Stay informed and connected. Get human resources news and HR features via Workforce Management’s Twitter feed or RSS feeds for mobile devices and news readers.
Leave A Comment
Join our community for unlimited access to the latest tips, news and information in the HR world.