New York Laws
Article 23 - Property/casualty Insurance Rates
2304 - Rate Making and Supporting Information.

(b) The information furnished in support of a filing may include:
(1) the experience or judgment of the insurer or rate service
organization making the rate;
(2) its interpretation of any statistical data it relies upon;
(3) the experience of other insurers or rate service organizations; or
(4) any other relevant factors.
(c) Risks may be grouped by classifications for the establishment of
rates and minimum premiums. Classification rates may be modified to
produce rates for individual risks in accordance with rating plans which
establish standards for measuring variations in hazards or expense
provisions, or both. Such standards may measure any differences among
risks that can be demonstrated to have a probable effect upon losses or
expenses.
(d) The systems of expense provisions included in the rates for use by
any insurer or group of insurers may differ from those of other insurers
or groups of insurers to reflect the requirements of the operating
methods of any such insurer or group with respect to one or more kinds
of insurance, or subdivisions of kinds of insurance, or classes of
risks, or any part or combination of the foregoing, for which separate
expense provisions are applicable.
(e)(1) Premiums for workers' compensation insurance for employments
classified under sections two hundred twenty, two hundred forty and two
hundred forty-one of the labor law, provided such employments are
classified under each of said sections, shall be established on the
basis of payroll and a formula which provides appropriate credits,
provided such credits shall not apply to payroll in excess of the
payroll limitation amount set forth in subdivision two of section
eighty-nine of the workers' compensation law and this subsection. With
the exception of employments engaged in the construction of one or two
family residential housing, premiums shall be calculated in accordance
with the following limitations:
(A) For policies with rating anniversary dates after September
thirtieth, nineteen hundred ninety-nine and before October first, two
thousand, an employer's payroll for premium computation purposes in the
affected construction classifications shall be the actual weekly payroll
per employee for the number of weeks employed subject to a maximum of
nine hundred dollars per week per employee plus one-half of the
difference between the employer's total payroll and the limited payroll.
(B) For policies with rating anniversary dates after September
thirtieth, two thousand and before October first, two thousand one, an
employer's payroll for premium computation purposes in the affected
construction classifications shall be the actual weekly payroll per
employee for the number of weeks employed subject to a maximum of nine
hundred dollars per week per employee.
(C) For policies with rating anniversary dates after September
thirtieth, two thousand one and before October first, two thousand two,
an employer's payroll for premium computation purposes in the affected
construction classifications shall be the actual weekly payroll per

employee for the number of weeks employed subject to a maximum of eight
hundred dollars per week per employee.
(D) For policies with rating anniversary dates after September
thirtieth, two thousand two, an employer's payroll for premium
computation purposes in the affected construction classifications shall
be the actual weekly payroll per employee for the number of weeks
employed subject to a maximum of the greater of seven hundred fifty
dollars per week or the weekly payroll amount upon which the maximum
weekly benefit is based, per employee.
(2) The loss costs applicable to employments classified under sections
two hundred twenty, two hundred forty and two hundred forty-one of the
labor law, provided such employments are classified under each of said
sections, shall be adjusted to reflect the payroll limitations required
by this section as they separately affect such rates for work actually
performed within each of the following geographic territories:
(A) Territory 1 comprising the counties of the Bronx, Kings, New York,
Queens, and Richmond;
(B) Territory 2 comprising the counties of Dutchess, Nassau, Orange,
Putnam, Rockland, Suffolk and Westchester; and
(C) Territory 3 comprising all other counties within the state.
(f) The rate adjustments required by subsection (e) of this section
shall be filed by the New York compensation insurance rating board in
accordance with the provisions of section two thousand three hundred
forty-seven of this article, and shall not become effective until
approved by the superintendent.
(g) "Loss costs," for the purpose of workers' compensation insurance
in this article, means that portion of a rate intended to represent the
anticipated costs of claim payments and loss adjustment expenses
associated with such claim payments, and may include one or more trend
factors. Loss costs do not include provisions for expenses (other than
loss adjustment expenses) such as acquisition costs, overhead and taxes,
or profit. For all other purposes, the superintendent, except as
otherwise provided in this chapter, may promulgate regulations defining
loss costs.
(h) A loss cost filing shall be deemed to be a rate filing under this
article.
(i) Nothing in this section shall prohibit the application of payroll
limitation provisions at the discretion of the superintendent, provided
such programs were in effect prior to the effective date of this
subsection.
(j)(1) On or before July first, two thousand sixteen, the department
shall make rules establishing requirements for health care facilities to
obtain a reduced worker's compensation rate for safe patient handling
programs implemented pursuant to title one-A of article twenty-nine-A of
the public health law.
(2) The department shall complete an evaluation of the results of the
reduced rate, including changes in claim frequency and costs, and shall
report to the appropriate committees of the legislature on or before
December first, two thousand eighteen and again on or before December
first, two thousand twenty.

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