The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 9.8% decrease. Also approved is an overall assigned risk rate reduction of 10.5%....
There have been recent changes to New York state’s workers’ compensation law that is important to for employers to note—starting in 2024. In September 2023, Gov. Kathy Hochul signed S.1161-A/A.2034-A into law, which will increase the minimum benefits for workers’...
The iconic New York City skyline is renowned for its dazzling lights, towering skyscrapers—and unfortunately its unsightly construction cranes and scaffolding. On July 26, 2023, a crane—situated atop a 45-story building in Midtown Manhattan—abruptly caught fire and...
In May, an application for an overall loss cost decrease of 2.6% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Sunday, Oct. 1,...
For years, PIANY has campaigned for changes in the way the New York State Insurance Fund conducts business. Currently, NYSIF is the largest writer of workers’ compensation insurance policies in the state by a comfortable margin. In fact, it is one of the top 10...
The Vermont Department of Financial Regulation approved the revised workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 6.7% decrease. In addition, a decrease of 6.9% of the overall assigned...
Gov. Kathy Hochul vetoed a potentially disruptive change to New York’s workers’ compensation laws. The bill would have changed the definition of temporary total disability in a way that would have increased workers’ compensation premium costs for businesses across the...
The Supreme Court of New Jersey issued an opinion last month that directly impacts the way insurance producers must handle workers’ compensation for limited liability companies. The court held in the case of Holm v. Purdy that insurance producers have an ongoing duty...
A bill passed late in the 2022 New York legislative session (S.768/A.1118) proposes a change to the definition of temporary total disability as used in workers’ compensation policies in New York state. This technical change would alter the consideration of temporary...
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -6.1% to become effective Jan. 1, 2023, applicable to new and renewal policies. The NJCRIB distributed Circular Letter No....