The New York Compensation Insurance Rating Board (NYCIRB) announced that state regulators have approved excess loss pure premium factors, state hazard group differentials and retrospective rating factors in connection with loss cost changes set to take effect on Oct. 1.NYCIRB President Monte Almer said the Rating Board calculated a loss conversion factor of 1.180 and has eliminated the table of federal excess loss factors consistent with actions taken in other jurisdictions.NYCIRB also revised the table of classifications for hazard groups to reflect the establishment of Classification Codes 8...
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