NYCIRB Seeking 16.9% Hike in Loss Costs

By Michael Whiteley, Eastern Bureau ChiefThe New York Compensation Insurance Rating Board is seeking a 16.9% increase in workers' compensation loss costs, effective on Oct. 1, 2013, based in part on a key reform included in Gov. Andrew Cuomo's 2013-2014 budget.Ziv Kimmel, NYCIRB's director of actuarial research, said the Rating Board made its annual loss-cost filing with the state Department of Financial Services late Tuesday but declined to provide details of the filing.He said NYCIRB won't post the filing on its website until DFS has scheduled a public hearing on the request....