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NYCIRB – Big Changes New York Compensation Insurance Ratings


NYCIRB – Memo From The President/CEO Outlines Big Changes For New York

Earlier this week, I received in my Outlook inbox an email that supposedly came from the President and CEO of the NYCIRB.  I thought it was a spam email trying to get my attention.

I was incorrect.  I decided to scan the link for safety.  I then clicked on the link and was taken to a PDF of the letter that was issued on June 24, 2021, on the NYCIRB’s upcoming major changes.    I did not know I was on their email list.

If you are an employer, agent, or anyone that has New York workers comp interests, this info will be very pertinent over the next few years.

NYCIRB Changes – A Quick Summary

NYCIRB Statue of Liberty pic
Wikimedia Commons – Pascual De Ruvo

We are all “post-pandemically busy”.   The memo can be found here.  I will save you time by condensing down the memo into a list of the changes – effective October 1, 2022.   After the list, I will define some of the terms used in the memo.

  1. The NYCIRB started a study and evaluation of the Experience Rating Plan in 2017.
  2. Similar to the WCIRB (California) it will start using floating split points.
  3. The experience rating formula was simplified.
  4. The NYCIRB will not allow NCCI Interstate Ratings any longer.
  5. During the first year of the program, a transitional Experience Mod will be issued.
  6. Three educational items were produced – a pamphlet on the changes, an interactive example of a redesigned Experience Rating Sheet;  and a technical memo with all the formulas
  7. A novel capping method on claim valuations

Definitions and Comments

Floating split point – a split point is a level where claims are valued as a primary loss and excess loss.  The primary loss portion charges much more to your Experience Mod than the excess loss.   California initiated the same type of program a few years ago.   My final conclusion on variable split points is they have not been in existence long enough to offer any type of opinion.

Formula simplification – what I noticed about the CA formula simplification was that the formula relied heavily on multiple charts feeding into the formula.  That is my own observation.

Interstate Rating – businesses operating multistate – use NCCI 1-minute video – click here 

Transitional Experience Mod – make sure you review any transitional experience modification sheets.  J&L had found a few errors in this area when other states such as West Virginia changed their Mod system.

Webinars – I hope the NYCIRB makes shorter versions of these as NCCI has in the past few years.  1.5 hours for an intro video?  Try this webpage for shorter animated videos.

Pic New York Workers Comp Experience Mods Map NYCIRB
Public Use License

I will cover the novel capping method in an upcoming article.   I need to review it more closely

and I have to publish the newsletter today.

Bottom Line – The NYCIRB, is moving towards heavily penalizing unsafe employers in the near future.  Make sure your safety and risk management program take the New Experience Mods into account.


2 Responses

  1. Bradley, thanks for your comment. You can find more articles on the NYCIRB by performing a search using the term. The search boxes are on all pages of the website. Feel free to comment on other articles. Have a good day James Moore


James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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