This just in from Business Insurance.
That's right! On the heals of a 7.7% increase that will take effect, now another 30% increase is in the mix. I have a feeling that a lot of this has to do with the rising cost of health care due to the government hostile take over of our health care industry. Health insurance premiums in NY are going up by as much as 92% on groups in NY right now. There is no way workers comp would have been able to dodge this bullet.
Now is a great time to start shopping your NY workers comp rates. The initial rate may be governed by the NY workers comp board, but there are some insurance carriers that deviate from this rate and offer safety discounts as well.
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