New York State
Insurance Department


ISSUED 6/18/2004

FOR IMMEDIATE RELEASE

NEW YORK INSURANCE DEPARTMENT TO HOLD PUBLIC HEARINGS ON PROPOSED WORKERS’ COMPENSATION RATE INCREASE

        The New York State Insurance Department has scheduled public hearings to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance increase of 29.3 percent.

        A New York City hearing is scheduled for June 28, 2004 at 11:00 a.m. at the offices of the Insurance Department, 25 Beaver Street, Room 518. A hearing will also be held in Albany on June 30, 2004 at 11:00 a.m. at the Legislative Office Building, Hearing Room A.

        The rate application was submitted by NYCIRB, a non-governmental entity that 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 application is for an effective date of October 1, 2004.

        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:

Albany Office
One Commerce Plaza
Albany, New York 12257
(By Appointment Only)
518-474-7495
New York City Office
Property Bureau
25 Beaver Street
New York, New York 10004
(By Appointment Only)
212-480-5527


        Those wishing to speak at the hearing should notify Ellen Wenz at the Department’s New York City office at 212-480-5262. Those unable to attend a hearing may submit written statements for inclusion in the official record within 7 days of the last 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.


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