New York State
Insurance Department


ISSUED 6/13/2005

FOR IMMEDIATE RELEASE

WORKERS’ COMPENSATION RATE HIKE REQUEST IS SUBJECT OF INSURANCE DEPARTMENT’S JUNE 23 PUBLIC HEARING IN NY CITY

        The New York State Insurance Department has scheduled a public hearing to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance increase of 16.1 percent. It will be held on Thursday, June 23, 2005 at 11 a.m. at the Insurance Department’s Manhattan offices, 25 Beaver Street, Room 518, New York, NY, 10004.

        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 effective date of the proposed increase is Oct. 1, 2005. The filing may be examined at NYCIRB’s Manhattan office at 200 East 42nd Street, or at the following Insurance Department offices:

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, Insurance Department Public Affairs, at 212-480-5262. Those unable to attend the June 23 hearing may submit written statements for inclusion in the official record within seven days of the hearing date. 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.


News HOME