NYS Insurance Department Approves WC Base Rate Increase Effective 10/1/11

By August 3, 2011 August 22nd, 2018 Uncategorized

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.