No Change to Overall Rates Next Year

The New Jersey Department of Banking and Insurance has approved a rate filing that will result in no change to overall workers' compensation and employers' liability rates in 2016, the New Jersey Inspection and Rating Bureau announced Friday. While overall premium level will remain the same next year, most individual classification rates will change based on loss data, the bureau said. The bureau noted that maximum weekly benefit levels will increase to $871 from $855 on Jan. 1 and the minimum benefit will increase to $232 from $228. For permanent partial disabilities, the maximum wi...