Welcome to the website of the New York Compensation Insurance Rating Board.  The Board’s projections on where workers compensation experience is headed are similar to what can be seen countrywide.  For the last several years, we have noted a continuous drop in claim frequency, particularly in the medical arena.  Average costs also continue to rise for both indemnity and medical claims and, similar to countrywide experience, are somewhat more pronounced on the medical side.  This can be evidenced even further by the New York medical/indemnity loss split which indicates that medical claims now represent almost half of all the claim dollars in the state as opposed to slightly more than one-third of the losses as recently as two years ago.            

     The Rating Board and its staff will continue in 2009 to monitor these changes as well as other effects from the 2007 reforms.  System improvements internally will also enable the Board to provide quicker and easier access to data and other information hopefully resulting in improved membership services. Again, we welcome your input, your questions and your comments which will help us to focus even further on the industry’s needs both today and for well into the future. 

           

 

Very truly yours, Monte Almer, WCP, FIDM President