Fiscal Analysis Puts Damper on Proposed Comp Reforms in New York

An analysis of the expected financial impacts of New York Gov. Andrew Cuomo’s proposed workers’ compensation reforms has found no solid evidence that the measures would result in cost savings, leading some to wonder why the reforms are being pursued. The analysis, released Tuesday by the New York Compensation Insurance Rating Board, found that one of the proposals, which would change the way average weekly wage is calculated for purposes of determining indemnity benefits, would increase costs for the workers’ comp system by 0.2% to 0.8%. Other proposals in the wide-rangi...