New Jersey 2026 Rate Relief

Understanding the Latest Workers' Compensation Changes and Second Injury Fund Adjustments

The New Jersey Department of Banking and Insurance has approved significant changes to workers' compensation rates effective January 1, 2026, bringing mixed news for employers across the Garden State. While overall rates are decreasing, the Second Injury Fund contribution has increased notably, impacting the bottom line.

NJ Workers' Compensation Premium Drops Again

New Jersey's workers' compensation landscape continues its remarkable transformation as employers prepare for another premium reduction in 2026. The New Jersey Compensation Rating and Inspection Bureau (NJCRIB) has established a pattern of consistent rate decreases, with a 6.9% statewide average decrease approved for 2025, continuing what industry experts now recognize as an unprecedented decade-long trend of premium relief for Garden State employers.

NJCRIB Submits Request for 3.9% Decrease in Premium Rate

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. 

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. 

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. 

NJ Insurance Rates Decrease 5.8%

The Commissioner of Banking and Insurance (“Commissioner”) has approved a 5.8% decrease in rates and rating values applicable to New Jersey workers’ compensation and employers’ liability insurance effective January 1, 2020 on a new and renewal basis.

The Rating Bureau filed for a decrease of 3.8% in rates and rating values; however, the Commissioner revised the overall change to the approved amount of -5.8%.

The rating components of the approved decrease are summarized in this Circular Letter, issued concurrently with Manual Amendment Bulletin #493, Manual Amendment Bulletin #494 and Statistical Circular #126.

NJ Workers' Compensation Premium Rates to Decline in 2020

The New Jersey compensation rating and inspection euro has announced that we will be seeking a decrease of 3.8% in the overall premium and rate levels effective January 1, 2020.

NJ Workers' Compensation Rates Increase in 2017 - Max $896.00

The NJ Workers' Compensation Rating and Inspection Bureau (NJCRIB) reported today 2017 rates effective January 1, 2017.

The Commissioner of Banking and Insurance (“Commissioner”) has approved a 3.0% decrease in rates and rating values applicable to New Jersey workers compensation and employers liability insurance effective January 1, 2017 on a new and renewal basis. The rating components of the decrease are summarized below.