CLICK HERE to read the full notice from the NYCIRB.

Effective October 1, 2022

As part of our mission to keep our clients informed, please be aware of the following information regarding the Workers’ Compensation changes effective on policies renewing on or after October 1, 2022:

1.CLICK HERE to view the NYS Workers’ Compensation Construction Class Codes/Loss Costs – Base Rates. (Last updated on 11/21/22)

2. Average decrease is 8.7% (different per code/classification)

3. The payroll cap has increased from $1594.57 to $1688.19 on policies renewing on or after July 1, 2022

4. The NYS assessment fee has decreased to 10.2% – UPDATE: This fee will decrease to 9.8% for policies that renew on or after January 1, 2023. CLICK HERE for the revised Miscellaneous Values Page (page 7) of the Workers’ Compensation and Employers’ Liability Manual.

6. Construction Employment Weekly Payroll Assignments are as follows:

MAXIMUM MINIMUM
Executive Officers, Sole Proprietors and Partners
(Construction Employments)		$1,688.19*$875.00
All other Construction Employees$1,688.19*N/A
Executive Officers (Non-Construction) $2,600.00$875.00
*Applies to policies renewing on or after July 1, 2022