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Workers' Compensation Committee

Business Council statement on Workers’ Comp savings

“We promised this year’s historic workers’ comp reforms would provide significant relief to state businesses, and already those promises are being kept,” said Heather C. Briccetti, Esq., president and CEO of The Business Council of New York State, Inc. “The 4.5 percent rate decrease in loss cost assessments submitted by NYCIRB for approval to the Department of Financial Service translates into nearly half a billion dollars in lower comp costs for state employers. These savings will allow businesses to grow, invest and hire more workers. At the same time, recently enacted reforms will ensure injured workers maintain their protections. And the best news is these savings are just the beginning. Thank you again to the state Senate majority, who along with The Business Council led the way on comp reform and made sure they were included in this year’s budget.”

Lev Ginsburg, Director of Government Affairs

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