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Board Recommends 11.7% Cut in WC Rates

By William Rabb (Reporter)

Thursday, May 17, 2018 | 694 | 0 | 36 min read

Business and insurance groups said Wednesday that an 11.7% proposed rate reduction, one of the largest cuts in years, is evidence that New York's legislative reforms are having the desired effect. But a worker advocate argued that the rate filing is proof that costs are dropping for a number of reasons, not because of 2007 and 2017 reform legislation. "Now, with costs going down, maybe we can see an improvement in benefits for workers," said Long Island claimants' attorney Robert Grey. The New York Compensation Insurance Rating Board made the rate filing...

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