Yearly Archives: 2024

WC Construction Payroll Limit Increasing To $1,757.19

​The New York Compensation Insurance Rating Board has announced that the maximum payroll for calculating Workers Compensation insurance premiums for construction employers will increase to $1,757.19 per week. The change takes effect on July 1.State insurance law requires that the payroll for certain construction classifications be limited to a percentage of the Statewide Average Weekly Wage for the previous calendar year. The adjustment occurs annually on July 1. Read the Board's announcement​Source

Continue ReadingWC Construction Payroll Limit Increasing To $1,757.19

Max Weekly WC Benefit Rising To $1,171.46

​The New York State Workers Compensation Board has announced that the maximum weekly disability benefit will increase to $1,171.46. The change takes effect on July 1 and applies to injuries occurring on that date and before July 1, 2025.State Workers' Compensation Law requires the maximum weekly benefit to equal two-thirds of the Statewide Average Weekly Wage (SAWW) for the previous calendar year. The level is reset annually on July 1. The state Labor Department reported that the 2023 SAWW was $1,757.19.The rate for July 1, 2023 to June 30, 2024 is $1,145.43​.Read the Board's announcementSource

Continue ReadingMax Weekly WC Benefit Rising To $1,171.46

Albany Update: CARCO Law Now In Effect, Big I NY Calls for Lawsuit Lending Divestment, Opposition to Unfair Business Practices Expansion

Big I NY's Photo Inspection Law Now EffectiveOn May 15th, our law to allow carriers to waive CARCO inspections​ went into effect. From now until October 2027, carriers doing business in NY may waive any or all CARCO inspections. Already, many carriers have announced they are waiving inspections, including Safeco, Travelers, Plymouth Rock, National General, and New York Central Mutual. We expect more carriers to follow suit.Big I NY Calls for Lawsuit Lending DivestmentThis week, Big I NY joined groups representing businesses, municipalities, and insurers, in urging the New York State and New York City pension funds to investigate and divest from third party litigation…

Continue ReadingAlbany Update: CARCO Law Now In Effect, Big I NY Calls for Lawsuit Lending Divestment, Opposition to Unfair Business Practices Expansion