Workers’ compensation insurance rates should be determined by the free market instead of the Compensation Insurance Rating Board–the insurer association that now proposes rates–New York State Insurance Superintendent Eric Dinallo recommended yesterday.

While Mr. Dinallo recommended that rates be determined by open competition among insurance carriers and said the CIRB should no longer file rates, he added that CIRB should continue to collect and analyze the underlying data necessary for the rate-making process. CIRB is a private insurance carriers group.

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