The New Jersey Compensation Rating and Inspection Bureau [NJCRIB] has submitted to the NJ Department of Banking and Insurance a request for a 3.9% decrease in the overall workers' compensation premium and rate level effective January 1, 2014.
The proposed revision is based on its 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 ninth year without an increase.
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 email@example.com have represented injured workers and their families who have suffered occupational accidents and illnesses.
Blog: Workers' Compensation
LinkedIn Group: Injured Workers Law & Advocacy Group
Author: "Workers' Compensation Law" West-Thomson-Reuters
Recommended Citation: Gelman, Jon L., NJCRIB Submits Request for 3.9% Decrease in Premium Rates, www.gelmans.com (10/112023),