Board proposes cutting workers' comp rate by 11.7 percent

May 18, 2018

Department of Financial Services would need to approve rate. Workers' compensation premiums will likely fall 11.7 percent this year, a figure that's more than double last year's decline. The New York Compensation Insurance Rating Board is recommending the cut, which would need approval from the state Department of Financial Services. DFS has until July 15 to approve or disapprove the decrease, which would take effect Oct. 1.