NY ID Posts Public Hearing Notice For 2010 WC Loss Cost Increase

New York, NY (CompNewsNetwork) - The Superintendent of Insurance, James J. Wrynn, seeks the input of the public regarding a proposed workers' compensation insurance 2010 loss cost increase of 7.7 percent filed with the Insurance Department by the New York Compensation Insurance Rating Board (NYCIRB), to be effective October 1, 2010 if approved. Pursuant to Workers' Compensation Law Section 2305, the Department will hold a public hearing in New York City on the proposed increase.

The approved loss cost will be used by workers' compensation insurance companies in setting rates. The hearing will be held at the office of the State Insurance Department, 25 Beaver Street, Room 510, beginning at 11 a.m. on Wednesday, June 23. All interested persons may testify at the hearing or submit written comments concerning the proposed increase.

Testimony can be scheduled and written testimony submitted through the website.

Written comments for the hearing record also may be submitted to Workers' Compensation Loss Cost 2010 Hearings, Public Affairs Bureau, New York State Insurance Department, 25 Beaver Street, New York, NY 10004, or e-mailed to PublicHearingsComments@ins.state.ny.us with the subject line “WORKERS' COMPENSATION LOSS COST 2010 HEARINGS.” The Department will accept comments for up to five business days after the hearing.

In accordance with the Americans with Disabilities Act, the Department will provide a reasonable accommodation, including interpreter services for the hearing impaired, at no charge to any covered individual wishing to testify at these hearings, provided that such a request is received at least five business days prior to the particular hearing date and either communicated in writing to Workers' Compensation Loss Cost 2010 Hearings, Public Affairs Bureau, New York State Insurance Department, 25 Beaver Street, New York  10004, or by calling the Department at (212) 480-5262.

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