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Three strategies to help reduce your workers' comp costs.

Publication: Westchester County Business Journal
Publication Date: 26-SEP-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Three strategies to help reduce your workers' comp costs.(ViewPoint)

Article Excerpt
The New York State Insurance Department recently approved a 5 percent increase in the average workers' compensation rate. The new rates are set to go into effect Oct. 1 and some companies can expect to see increases much higher than the 5 percent average. The increase is less then the New York Compensation Insurance Rating Board's (CIRB) original request of a 16.1 rate percent increase.

According to the National Council on Compensation Insurance (NCCI), New York's workers' compensation costs are 72 percent above the national average on a costs-per-case basis.

With rates on the rise, it is easy to understand why workers' compensation insurance is a major concern for many businesses. Although workers' compensation is regulated by each state, a company...

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