N.Y. DFS Disapproves NYCIRB's +6.8% Loss Cost Level Change Filing

The New York Compensation Insurance Rating Board (NYCIRB) announced in a bulletin yesterday that the New York Department of Financial Services (DFS) issued an opinion and decision letter disapproving the +6.8 percent workers’ compensation loss cost level change filed with the DFS on May 15, 2014 for an effective date of Oct. 1.Consequently, the NYCIRB noted, the current loss costs and rating values will remain in effect. Carriers, however, have the option to file revised loss cost multipliers with the DFS.

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