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N.Y. Revises Comp Rate Setting

The measure also extends for five years the New York Compensation Insurance Rating Board's (CIRB) statutory authority to compile data but limits its abilitiy to provide input for rate setting, which

By Phil Gusman | Updated on February 01, 2008

New York Governor Eliot Spitzer signed into law a measure revising the method used to set workers’ compensation rates in the state yesterday.

The measure also extends for five years the New York Compensation Insurance Rating Board’s (CIRB) statutory authority to compile data but limits its abilitiy to provide input for rate setting, which had been the insurance industry group’s role in the past.

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