New York Gov. George Pataki has signed a law changing how insurers are assessed by the state for six special workers compensation funds. Assessments under the new law will be made based on the amount of premium written. Insurers will collect the funds from policyholders through a surcharge.
Previously, assessments were based on the insurers’ paid losses in the preceding calendar year. Insurers then assessed policyholders for the funds. The law brings New York into compliance with standards issued by the Financial Accounting Standards Board.
Topics Workers' Compensation New York
Was this article valuable?
Here are more articles you may enjoy.
Are ‘Moderate’ Hurricanes Getting Squeezed Out of the Atlantic? 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East 
