NEW YORK COMPENSATION INSURANCE RATING BOARD
The New York Compensation Insurance Rating Board was created by the Workers’ Compensation Law of 1914. It is licensed as the official rate service organization consistent with Section 2313 of the New York Insurance Law. Regulated by the New York State Department of Financial Services, the Rating Board is tasked with a broad range of objectives that include the following:
- Establish, maintain, and administer advisory manuals of loss costs, rules, classifications and rating plans; develop policy and other forms; make filings of these with the regulatory authority.
- Collect loss, premium, and payroll data from all carriers, summarize the information, and develop an adequate rate structure.
- Collect, compile, and analyze statistical and other data.
- Establish and maintain classifications for individual risks.
- Inspect the workplaces of employers to determine proper classifications for the actual exposure of their business operations.
- Examine and audit employers’ records. These include ledgers, journals, registers, vouchers, contracts, tax reports, payroll, disbursement documents, and programs for storing and retrieving data.
- Devise rating systems.
Refer to the “Constitution of the New York Compensation Insurance Rating Board” for further information.
The New York Workers’ Compensation and Employers’ Liability Manual contains rules, loss costs, policy forms and endorsements, and classification interpretations that have been filed by the Rating Board on behalf of its members and approved by the New York State Department of Financial Services pursuant to the provisions of Section 2305 of the New York State Insurance law.
All references to the (“Manual”) mean the “New York Workers’ Compensation and Employers’ Liability Manual.”
ORGANIZATION OF THE MANUAL
This Manual has six sections:
- Table of Contents
- Part One – Rules
- Part Two – Classifications
- Part Three – Loss Costs and Miscellaneous Values
- Part Four – Policy Forms and Endorsements
APPLICATION OF MANUAL RULES AND EFFECTIVE DATE
Rules apply separately to each policy, except as allowed by Rule VI (F).
The effective date of change in any rule, classification, policy form, endorsement, or loss cost is 12:01 a.m. on the date specified on the Manual page. Any change will be issued on a reprinted Manual page and will be designated by a ¬. Unless otherwise specified, each change applies only from the policy effective date that occurs on or after the effective date of the change.
Matters of general information and amendments to this Manual are distributed to members and subscribers via R.C. Bulletins.
MATERIAL SENT TO THE RATING BOARD
It is essential that all material submitted to the Rating Board contain the complete name of the employer, whether the material is a policy, endorsement, cancelation, reinstatement or correspondence. The name of the insured is essential as it is used to identify the Rating Board’s record of an employer. The complete name of the employer on all documents will avoid material from being returned requesting additional information.
It is requested that a carrier not issue a policy using the term “et al” as the name of the employer when a risk covers several entities. If, however, a policy must be issued with the employer’s name as “et al,” an endorsement must be attached to the policy listing the individual employer name(s).
The Rating Board assigns unique numbers to each employer. The first number is a seven-digit “Coverage ID” and the second number is a nine-digit “Combinable ID.” The handling of correspondence and other inquiries will be handled more expeditiously if either the Coverage ID or the Combinable ID and carrier policy number are referenced.
Material sent to the Rating Board should be addressed to the attention of an individual or department, if known, to ensure prompt handling.
Experience Rating Worksheet
On each risk where the Rating Board has determined an experience modification, a notice of the modification with the detailed worksheet shall be issued by the Rating Board and made available to the authorized carrier. A copy of the data underlying the experience rating as well as any inspection reports may be furnished upon request. A copy of the rating worksheet data will be furnished to any member carrier or broker requesting the same upon written authorization from the employer authorizing the Rating Board to release this information.