The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -4.3%, effective Thursday, Jan. 1, 2026, and applicable to new and renewal policies. The NJCRIB distributed Circular Letter No. 2510 detailing this rate revision, along with the manual changes.
Rate level
The cumulative effect of all filed rating element changes results in a final collectible premium level reduction of 4.3%. However, most individual classification rates will change based on the latest data reported in accordance with the Statistical Plan. The classification rates are published in Circular Letter No. 2510.
The elements included in the cumulative overall rate level are upward adjustments of 12% for loss experience and 1.2% for benefit changes. Countering these are downward adjustments of -15.5% for the trend factor, and -0.6% for the loss adjustment expense, general expense, production expense, security fund, and the Rating Bureau expense.
An adjustment to expenses is necessary because certain elements of the expense provisions will not be decreased to an amount equal to the premium level indication. Recognition of this adjustment requires a premium level adjustment factor of 1.005 (0.5%).
The following are average rate changes by industry group: Manufacturing -4.4%; Contracting -3.8%; Office & Clerical -6.4%; Goods & Services -2.8%; and Miscellaneous -6.7%.
There is no change in the $0.03 per unit of exposure Foreign Terrorism Risk Premium Charge and the $0.01 per unit of exposure Domestic Terrorism, Earthquakes, and Catastrophic Industrial Accidents Premium Charge.
Classification relativities
The year 2026 begins with a total of 550 classifications, including maritime and federal employments. Six of these do not carry a rate assignment and another two of the rated classifications are left unchanged. Of those classifications remaining, 141 undergo increases and 401 undergo decreases. There is no change in rates for private residence employees.
More specific information on these changes, including rates, classifications, minimum/maximum payroll, expense constant, and policy surcharges is available in QS29032, titled 2026 WC overall rate level decreases 4.3%. If you have any additional questions, please contact PIA’s Industry Resource Center at (800) 424-4244 or email resourcecenter@pia.org.
Shirley Albright, CPIA, CISR
Shirley Albright, CPIA, CISR, has been a cornerstone of PIA since joining the association in 1983. Over the decades, she has contributed meaningfully across numerous departments, demonstrating unwavering dedication and leadership. In 1995, Shirley played a pivotal role in launching the Industry Resource Center, where she led the development of a comprehensive software system designed to log and manage all incoming and outgoing member inquiries—an innovation that transformed the center’s operational efficiency. As director of the Industry Resource Center, Shirley oversees the center’s daily operations, including the triage and resolution of thousands of member inquiries and multiple database updates, ensuring timely and accurate support across the organization. Her industry accomplishments include earning her New York state property/casualty broker’s license and has obtaining the CPIA and CISR professional designations, underscoring her deep expertise and commitment to excellence in the insurance industry.
