NJ CRIB Submits Rate Decrease for 2023

The NJ Compensation and Rating Bureau (NJCRIB) submitted a filing to the Department of Banking and Insurance seeking a 4.7% decrease in the overall premium and rate level effective January 1, 2023. 

The proposed revision is based on 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 eighth year in a row without an increase. 

Recommended Citation: Gelman, Jon L.,   NJCRIB Submits Filing for January 1, 2023 Revision of Rates Workers' Compensation Blog, Sept. 30, 2022), 

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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 five decades, the Law Offices of Jon L Gelman  1.973.696.7900  jon@gelmans.com  have represented injured workers and their families who have suffered occupational accidents and illnesses.

Website: www.gelmans.com

Blog: Workers ' Compensation

Twitter: jongelman

LinkedIn: JonGelman

LinkedIn Group: Injured Workers Law & Advocacy Group

Author: "Workers' Compensation Law" Thomson-Reuters