FOR IMMEDIATE RELEASE
INSURANCE DEPARTMENT TO HOLD PUBLIC HEARING
ON PROPOSED WORKERS’ COMPENSATION RATE INCREASE
The New York State Insurance Department has scheduled a public hearing on July 3, 2003 to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance increase of 11.0 percent. The application is for an effective date of October 1, 2003.
This rate application has been submitted by the New York Compensation Insurance Rating Board (NYCIRB), which serves as the advisory rate service organization for workers’ compensation in New York State. All workers’ compensation insurers must send statistics to the NYCIRB, which compiles and evaluates data and proposes rate changes that are subject to the Insurance Department’s prior approval.
The hearing will be held on July 3, 2003 at 11:00 a.m. at the offices of the Insurance Department, 25 Beaver Street in New York City in room 518. For others who would like to observe the hearing, teleconferencing will be available in the Insurance Department Albany Offices in the Health Bureau Conference Room at One Commerce Plaza on the 19th Floor.
The complete rate increase application may be examined at the offices of NYCIRB at 200 East 42nd Street, New York, NY, or at the Insurance Department:
One Commerce Plaza
Albany, New York 12257
(By Appointment Only)
York City Office
25 Beaver Street
New York, New York 10004
(By Appointment Only)
Those wishing to speak at the hearing in New York City should notify Ellen Wenz at the Department’s New York City office at 212-480-5262. Those unable to attend the hearing may submit written statements for inclusion in the official record within 7 days of the hearing date to the Public Affairs & Research Bureau at the Insurance Department’s New York City Office. In accordance with the Americans with Disabilities Act, the Department will provide a reasonable accommodation, such as a sign language interpreter, a qualified reader, etc., at no charge to any covered individual wishing to attend or testify at the hearing when such a request is made at least seven days before the hearing.