Lawsky Approves Change in Split Point

New York Financial Services Superintendent Benjamin Lawsky has approved a change in the split point used by the New York Compensation Insurance Rating Board to determine experience modifications in the workers' compensation system.NYCIRB Chief Actuary Ziv Kimmel said in an announcement that, effective Oct. 1, 2013, NYCIRB will increase the split point from $5,000 to $10,000.New York is among at least 40 states where regulators have approved the change. Claims under the new $10,000 threshold will be considered primary and will be weighted at 100% for the purpose of determining each New York...