An agent group praised New York's top insurance regulator today for recommending a private insurers association no longer develop workers' compensation insurance rates, and said he should replace the facility as a statistical source as well.
Their comments followed New York State Insurance Department Superintendent Eric R. Dinallo's Tuesday recommendation that instead of the New York Compensation Insurance Rating Board filing the state comp rates, they should be established by open competition among insurance carriers.
The Independent Insurance Agents and Brokers of New York said this finding was "welcome news," and called on Mr. Dinallo to dump the entire CIRB operation and replace it with the Boca Raton, Fla.-based National Council on Compensation Insurance (NCCI).
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