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NEW YORK WORKERS’ COMPENSATION OCTOBER …
NEW YORK WORKERS COMPENSATION OCTOBER 1, 2017 loss cost filing actuarial Committee recommended loss cost Level Change: Proposed loss cost Level Change: Approved loss cost Level Change: The Rating Board submitted the 2017 General loss cost Revision to the New York State Department of Financial Services on May 15, 2017 requesting an average change of in the loss cost level to become effective on OCTOBER 1, 2017. The loss cost revision reflects the experience of the two most recent policy years, as well as projected trends, benefit level changes, and changes in loss adjustment expenses. In addition, the proposed change reflects the impact of certain components of the 2017 workers COMPENSATION reform. The filing proposed no changes to the terrorism and catastrophe loss cost provisions.
NEW YORK WORKERS’ COMPENSATION OCTOBER 1, 2017 LOSS COST FILING • Actuarial Committee Recommended Loss Cost Level Change: -4.5% • Proposed Loss Cost Level Change: -4.5%
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