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Tuesday, October 5, 2021

NJCRIB Requests a 4.9% Premium Decrease for 2022

The NJ Compensation Rating and Inspection Bureau [NJCRIB] submitted a filing to the Department of Banking and Insurance seeking a 4.9% decrease in the overall premium and rate level effective January 1, 2022. The proposed revision is based upon the most recent experience and a review of classification relativity. 

Additionally, the filing proposed several Manual amendments and changes to experience and retrospective rating values. If approved, this would be the seventh year in a row without an increase.

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Jon L. Gelman of Wayne NJ is the author of NJ Workers’ Compensation Law (Thomson-Reuters) and co-author of the national treatise, Modern Workers’ Compensation Law (Thomson-Reuters). For over four decades, the Law Offices of Jon L Gelman  1.973.696.7900  has been representing injured workers and their families who have suffered occupational accidents and illnesses.

Blog: Workers ' Compensation

Twitter: jongelman

LinkedIn: JonGelman

LinkedIn Group: Injured Workers Law & Advocacy Group

Author: "Workers' Compensation Law" Thomson-Reuters