New Jersey OKs 8.3% Hike in Workers Comp Rates

The New Jersey Department of Banking and Insurance has approved an 8.3 percent increase in manual rates and rating values applicable to New Jersey workers compensation and employers liability insurance effective January 1, 2013 on a new and renewal basis.

The announcement was made by the Compensation Rating and Inspection Bureau in its recent circular letter (a PDF file). The letter details the rating components which resulted in the increase, as well as other revisions approved.

Read More: New Jersey OKs 8.3% Hike in Workers Comp Rates.

Join the Conversation on Linkedin | About PEO Compass

The PEO Compass is a friendly convergence of professionals and friends in the PEO industry sharing insights, ideas and intelligence to make us all better.

All writers specialize in Professional Employer Organization (PEO) business services such as Workers Compensation, Mergers & Acquisitions, Data Management, Employment Practices Liability (EPLI), Cyber Liability Insurance, Health Insurance, Occupational Accident Insurance, Business Insurance, Client Company, Casualty Insurance, Disability Insurance and more.

To contact a PEO expert, please visit Libertate Insurance Services, LLC and RiskMD.