Archive for the ‘workers comp market’ Category

Workers Compensation Premium Recovery Helps NJ Employers with Higher 2014 Maximum Weekly Indemnity Benefits

November 11, 2013 The New Jersey Division of Workers' Compensation announced that the maximum weekly indemnity benefit for injured workers will be $843 in 2014, and the minimum weekly benefit will be $225.  This is an increase from $826 maximum weekly indemnity benefit and $220 minimum weekly benefit in 2013. New Jersey law requires that […]

Workers Comp Insurance Assessments Down 25% in New York for 2014

October 24, 2013 Finally some great news for New York employers:  On October 23rd The New York Workers’ Compensation Board announced that New York State’s employers assessments will be at 13.8% in 2014, compared to 18.8% in 2013.  This means a 25% decrease in assessments for New York employers in 2014. The previous system was […]

Questionable Workers Compensation Claims on the Rise

September 25, 2013 National Insurance Crime Bureau The total number of workers' compensation claims across the nation is dropping but the number of questionable claims is rising, according to a new study. Over the last 2 1/2 years, the number of workers filing compensation claims has dropped from 3.35 million in 2011 to 3.24 million […]

NJ Workers Comp – Proposed Rule Would Increase Benefits by 2.1% next Year

New Jersey Register September 11, 2013 A rule amendment proposed by the New Jersey Division of Workers' Compensation will increase the maximum weekly workers' compensation benefit rate 2.1% − to $843 from $826 − on January 1. Maximum workers' compensation benefit rates are adjusted each year based on the average weekly wage. New Jersey claimants […]

Workers’ Compensation Benefits, Employer Costs Rise with Economic Recovery

August 20, 2013 The National Academy of Social Insurance WASHINGTON, D.C. – After declining in the wake of the recession, workers’ compensation benefits paid to injured workers and costs borne by employers increased in 2011 as the U.S. economy continued to recover, according to a new report by the National Academy of Social Insurance (NASI). […]