Workers Comp Loss Costs To Drop 13% in October
Abstract: Overall loss costs for Workers' Compensation (WC) insurance in New York will decrease by an average 13.2%, according to the New York Compensation Insurance Rating Board. Body: Overall loss costs for Workers' Compensation (WC) insurance in New York will decrease by an average 13.2%, according to the New York Compensation Insurance Rating Board. The change in loss cost levels applies effective October 1, 2025.This is the ninth consecutive year that WC insurance loss costs have decreased in New York.Loss costs are not premium rates. They reflect the expected cost of paying losses plus adjustment expenses. Each insurance provider, including the New York State Insurance Fund,…