Proposed Rule Establishes Rating System for Paid Family Leave Coverage

The New York Workers’ Compensation Board and Department of Financial Services are jointly proposing new rules to establish a rating system for insurers that offer coverage for employers’ obligations under the state’s paid family leave law enacted last year. According to a notice in Wednesday’s New York State Register, the Department of Financial Services has determined that family leave coverage must be community rated, meaning all employers in the state will be subject to the same rate. However, the proposed rules also include a risk-adjustment factor that will assign...