Today’s issue of WorkCompRecap features multiple industry groups’ endorsements of new legislative proposals to reform New York’s workers’ comp system which were recently released as part of Governor Cuomo’s 2013-2014 Executive Budget.
The AIA endorsed the proposals, and noted that changes included assessing employers on their pro-rata share of premiums, regardless of how they secure their coverage, closing the aggregate trust fund and reopened cases fund to new cases, issuing bonds to cover the $800 million in liabilities of the self-insured group trusts, and increasing the minimum weekly benefit for injured workers from $100 to $150.
PCI also commended Cuomo’s prioritization of workers’ comp reform, noting the changes will help address some of the issues that have prevented the reforms of 2007 from achieving their intended long-term savings.