N.Y. Comp Hike Proposal Provokes Outrage
NU Online News Service, May 21, 3:52 p.m. EDT?A proposed 29 percent hike for the average New York workers' compensation premium has come under attack from a business trade group.[@@]
The suggested rate increase has been advanced by the Compensation Insurance Rating Board (CIRB), an insurance industry advisory group that each year recommends a change in workers' comp premiums and assessments. The Board said it has recommended a 29 percent workers' comp rate hike this year because claims have been outpacing premium revenues.
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