By Michael Whiteley, Eastern Bureau ChiefRising medical costs combined with increases in benefits and delays in imposing duration caps on permanent partial disability claims are driving the need to boost loss costs by 16.9%, the New York Compensation Insurance Rating Board said last week.In a bulletin posted on its website, the Rating Board provided the first details of a loss-cost filing it sent to New York Financial Services Superintendent Benjamin Lawksy on May 14.The board posted the bulletin last Wednesday – the same day the New York State Workers' Board announced an initiative ...
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