Late Indemnity Payments Will Start Drawing Penalties Next Month

The New York State Workers’ Compensation Board will begin assessing penalties next month on carriers and employers for late payments shown on subsequent reports of injury. The board has not issued a recent bulletin or press release about compliance and filed its last Payor Compliance Program update on Oct. 22, 2015, Subject No. 046-808. But a PowerPoint presentation on the board’s website from earlier this year says the agency will begin measuring SROI transactions received in the first quarter of 2017 on claims with accident dates of March 23, 2014, and after...