NYCIRB Updates Assessment Process

The New York Compensation Insurance Rating Board has posted details of the change in workers' compensation assessments required by New York Gov. Andrew Cuomo's 2013-2014 budget.The State Workers' Compensation Board has announced it will reduce assessments from 18.8% of premium to 13.8% of premium beginning on Jan. 1. SWCB will not levy a 2014 assessment for the state's Reopened Case Fund, which Cuomo's budget closed to new claims effective on Jan. 1.SWCB also is simplifying the assessment process by applying a single assessment to both insured and self-insured employers.NYC...