Posts Tagged ‘loss costs’

Workers Compensation Loss Cost Increase Disapproved by NYDFS

  July 17, 2014 The request to increase the loss cost level by 6.8% filed by The New York Compensation Insurance Rating Board (NYCIRB) effective October 1st has been disapproved by the New York Department of Financial Services (DFS). Consequently, the current loss costs and rating values will remain in effect. As experts in workers […]

Workers Compensation Rating Board’s Application To Increase Loss Costs Denied

New York Compensation Rating Board’s application submitted to the Department of Financial Services on May 15, 2012, to increase loss costs by an average 11.5% effective October 1st has been disapproved by State Financial Services Superintendent Benjamin Lawsky, citing that “A loss cost increase at this time – resulting in increased workers’ compensation premiums – […]