The New York Compensation Insurance Rating Board is asking the state Department of Financial Services to increase workers' compensation loss costs by 6.9% on Oct. 1, after state regulators denied increases during two of the past three years and held 2013 increases to 2.8%.
Ziv Kimmel, vice president and chief actuary of the rating board, said the board filed a request for a 6.9% increase with New York Financial Services Superintendent Benjamin M. Lawsky earlier this month. He declined to provide further details and even refused to say why he wouldn't discuss the filing.
By late Thurs...
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