State Insurance Superintendent James J. Wrynn approved the revised figure.
The New York Insurance Compensation Rating Board initially proposed a 10.4 percent rate hike but amended the amount after the superintendent's approval of 9.1 percent. Wrynn said increased benefits and medical fees were among the reasons for the higher rates. The Insurance Department said rates have actually decreased an average of 10 percent since October 2000.
Read more at the WorkersComp Forum homepage.
August 22, 2011
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