CALL FOR A FREE CASE REVIEW 1-855-847-8969 CALL FOR A FREE CASE REVIEW 1-855-847-8969
was successfully added to your cart.

Workers’ Compensation Premiums to Decrease in New York State

The New York Compensation Insurance Rating Board has decided to decrease the statewide workers’ compensation rate by 4.5 percent, which will save employers around $400 million in 2017.  The Department of Financial Services must review and approve the decision; if they do, it will take effect October 1st.

As part of the state budget, the workers’ compensation reforms include providing relief for first responders who are exposed to trauma and extreme stress in emergency situations, requiring injured workers who have not received benefits to receive a hearing within 45 days, and allowing seriously injured workers to apply for lifetime benefits when their benefit caps are set to expire.