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Assembly Bill A1213

2009-2010 Legislative Session

Requires consideration of employer's loss experience in rate setting for workers' compensation insurance

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Archive: Last Bill Status - In Assembly Committee

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2009-A1213 (ACTIVE) - Details

Current Committee:
Assembly Labor
Law Section:
Workers' Compensation Law
Laws Affected:
Amd §89, Work Comp L; amd §2304, Ins L

2009-A1213 (ACTIVE) - Summary

Requires the consideration of each employer's loss experience for the most recent rating plan period for purpose of setting rates for workers' compensation insurance; requires consideration of such information by commercial insurers also.

2009-A1213 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1213

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced  by  M.  of  A. DESTITO, MAGEE, CHRISTENSEN, KOON, GUNTHER --
  Multi-Sponsored by -- M.  of A. ABBATE, CLARK,  COLTON,  GLICK,  GOTT-
  FRIED,  HOOPER, JOHN, PERRY, PHEFFER, WRIGHT -- read once and referred
  to the Committee on Labor

AN ACT to amend the workers' compensation law, in relation to  requiring
  consideration  of  employer's  loss experience in the setting of rates
  for workers' compensation insurance and to amend the insurance law, in
  relation to information required to be filed in  support  of  workers'
  compensation insurance rates

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 89 of  the  workers'  compensation
law,  as  amended by chapter 135 of the laws of 1998, is amended to read
as follows:
  1. Employments and employees in the state fund shall be  divided  into
such  groups and classes as shall be equitable based upon differences of
industry or hazard for the purpose of  establishing  premium  rates  for
workers'  compensation insurance, and for such purpose a system of merit
rating [may] SHALL be employed which shall take account of the  peculiar
hazard  of each individual risk AND AN EMPLOYER'S LOSS EXPERIENCE DURING
THE MOST RECENT RATING PLAN PERIOD IRRESPECTIVE  OF  THE  TOTAL  PREMIUM
COST  BILLED TO THE INDIVIDUAL EMPLOYER. Such premiums in the state fund
shall be fixed at the lowest possible rates consistent with the  mainte-
nance of a solvent fund and of reasonable reserves and surplus.
  S 2. Subsection (a) of section 2304 of the insurance law is amended to
read as follows:
  (a)  In  the making of rates, consideration shall be given to past and
prospective loss experience, including the conflagration and catastrophe
hazards, if any, both within and without  this  state,  to  all  factors
reasonably  attributable  to the class of risks, to a reasonable profit,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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