NYS Workers Compensation Construction Class Codes/Rates Changes Effective October 1, 2019
NYS Workers’ Compensation Construction Class Codes/Loss Costs – Base Rate Update
As part of our mission to keep our clients informed, please be aware of the following information regarding the Workers, Compensation changes effective on policies renewing on or after October 1, 2019.
1. Average decrease is 10.0% (different per code)
2. The payroll cap has increased from $1,357.11 to $1401.57 on policies renewing on or after July 1, 2019
3. The NYS assessment fee has increased to 12.6%
4. The Territorial Surcharge is still 0%
5. Construction Employment Weekly Payroll Assignments are as follows:
| Maximum | Minimum | |
| Executive Officers, Sole Proprietors and Partners (Construction Employments) |
$1,401.17* | $725.00 |
| All other Construction Employees | $1,401.17* | N/A |
| Executive Officers (Non-Construction) | $2,200.00 | $725.00 |
*Applies to policies renewing on or after July 1, 2019
Click here to download the entire document.
More Insight & Tips
-
Lawley Welcomes New Hires – October 2024
-
Hurricane Preparedness Tips for Businesses
Rob Coppola
Senior Account Executive – Construction Insurance Practice Group
-
The Importance of Insurance to Value for Commercial Property Coverage
John Beecher
Insurance Advisor/Partner
Rob Coppola
Senior Account Executive – Construction Insurance Practice Group
Rob’s primary role is to be the lead service team relationship manager and advocate for key Lawley Construction Insurance and Captive clients. He has vast knowledge in exposure identification and specific coverage implementation which will be used to custom-develop your insurance platform and service plan. Rob will make certain that your transition to and relationship with Lawley begins in an exceptional way and stays that way.
View Bio LinkedIn