ALBANY, N.Y. — New York State employers will see a 22% drop in workers’ compensation insurance premium rates starting Oct. 1.
The rate reduction was approved by the Department of Financial Services last week and is expected to lower costs by an average of more than $1,700 per policyholder and more than $1 billion for businesses.
Governor Kathy Hochul’s Office says the change follows improvements in workplace safety and flexible working conditions.
To learn more, visit Hochul’s website by clicking here.
New York State workers’ compensation insurance rates dropping 22% starting this fall WHEC.com.
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