NYCIRB – Big Changes New York Compensation Insurance Ratings


Earlier this week, I received in my Outlook inbox an email that supposedly came from the President and CEO of the NYCIRB.  I thought it was a spam email trying to get my attention.

I was incorrect.  I decided to scan the link for safety.  I then clicked on the link and was taken to a PDF of the letter that was issued on June 24, 2021, on the NYCIRB’s upcoming major changes.    I did not know I was on their email list.

If you are an employer, agent, or anyone that has New York workers comp interests, this info will be very pertinent over the next few years.

NYCIRB Changes – A Quick Summary

NYCIRB Statue of Liberty picWikimedia Commons – Pascual De Ruvo

We are all “post-pandemically busy”.   The memo can be found here.  I will save you time by condensing down the memo into a list of the changes – effective October 1, 2022.   After the list, I will define some of the terms used in the memo.

  1. The NYCIRB started a study and evaluation of the Experience Rating Plan in 2017.
  2. Similar to the WCIRB (California) it will start using floating split points.
  3. The experience rating formula was simplified.
  4. The NYCIRB will not allow NCCI Interstate Ratings any longer.
  5. During the first year of the program, a transitional Experience Mod will be issued.
  6. Three educational items were produced – a pamphlet on the changes, an interactive example of a redesigned Experience Rating Sheet;  and a technical memo with all the formulas
  7. A novel capping method on claim valuations

Definitions and Comments

Floating split point – a split point is a level where claims are valued as a primary loss and excess loss.  The primary loss portion charges much more to your Experience Mod than the excess loss.   California initiated the same type of program a few years ago.   My final conclusion on variable split points is they have not been in existence long enough to offer any type of opinion.

Formula simplification – what I noticed about the CA formula simplification was that the formula relied heavily on multiple charts feeding into the formula.  That is my own observation.

Interstate Rating – businesses operating multistate – use NCCI 1-minute video – click here 

Transitional Experience Mod – make sure you review any transitional experience modification sheets.  J&L had found a few errors in this area when other states such as West Virginia changed their Mod system.

Webinars – I hope the NYCIRB makes shorter versions of these as NCCI has in the past few years.  1.5 hours for an intro video?  Try this webpage for shorter animated videos.

Pic New York Workers Comp Experience Mods Map NYCIRBPublic Use License

I will cover the novel capping method in an upcoming article.   I need to review it more closely

and I have to publish the newsletter today.


Bottom Line – The NYCIRB, is moving towards heavily penalizing unsafe employers in the near future.  Make sure your safety and risk management program take the New Experience Mods into account.

This blog post is provided by James Moore, AIC, MBA, ChFC, ARM, and is republished with permission from J&L Risk Management Consultants. Visit the full website at

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