Industry News

​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

​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

​ENERGAGE NAMES PREFERRED MUTUAL INSURANCE COMPANY A WINNER OF THE 2024 TOP WORKPLACES USA New Berlin, New York, March 20, 2024Preferred Mutual Insurance Company has announced it has earned the 2024 Top Workplaces USA award, issued by Energage, a purpose-driven organization that develops solutions to build and brand Top Workplaces. The Top Workplaces program has a 15-year history of surveying more than 20 million employees and recognizing the top organizations across 60 markets for regional Top Workplaces awards."At Preferred Mutual, we are committed to maintaining a people-first culture," said Preferred Mutual Insurance Company President & CEO R. Benedikt Sander. "We are honored our commitment to putting people…