WC Carriers Must Now Give Ample Warning When Premiums Are Set to Rise

Insurance carriers were reminded this week to give employers 30 days' notice when renewal policy premiums will rise by more than 10%.  Until this week, workers' compensation carriers in New York State were not required to give advance notice of large increases. But a law passed last year took effect this week, and insurers should be prepared, said Tim Dodge, assistant vice president for research at Big I of New York, which represents independent insurance agents. "That law was something our association developed so policyholders wouldn't be surprised," Dodge sa...