The New Jersey Compensation Rating and Inspection Bureau announced a 6.1% decrease in rates and rating values for workers’ compensation insurance, effective Jan. 1.
NJCRIB filed for a 4.7% decrease, but the New Jersey Commissioner of Banking and Insurance revised the filing.
Average rate changes will vary by industry group. The “miscellaneous” category will see the largest average decrease at 7.6%, while office and clerical will see the smallest at 3.5%, according to information provided by the Compensation Rating and Inspection Bureau.
The bureau also announced that the c...
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