The New York State Insurance Department approved Workers’ Compensation base rate changes effective October 1, 2011 for all insurance companies. The average change for each of our groups is estimated as follows:
Real Estate Owners and Managers Flanders Group 512 – 11.81% Increase
NYS Horticulture/Floriculture Industries Flanders Group 453 – 9.92% Increase
NYS Marinas and Recreational Boat Sales/Service Flanders Group 517 – 10.10% Increase
Select Manufacturers’ Association of NY (machine shops and metal workers) Flanders Group 572 – 17.51% Increase
Select Waste Industry Association of NY Flanders Group 579 – 29.29% Increase
NYS Automobile and Recreational Vehicle Dealers (Powersports) Flanders Group 563 – 8.50% Increase
This will be important information as you plan your Workers’ Compensation budget for the coming year. As more specific information becomes available we will post it here. You can also call our office at 800-462-6435.