Governor Eliot Spitzer is trumpeting workers’ compensation reform as a positive step for both employers and workers. Although the Workers’ Compensation Reform bill recently signed into law provides just a skeletal outline of what New York’s workers’ comp program will one day look like, both business and labor groups are cautiously optimistic.
New York’s workers’ comp premiums are among the highest in the nation, but benefits paid to workers lag far behind other states. Reform proponents argue the reforms in the bill, signed into law in March, will reduce workers’ comp premiums by 10 to 15 percent.
Most of the heavy lifting in workers’ comp reform will come from the governor’s advisory committee, which includes the superintendent of insurance, the general counsel to the Workers’ Compensation Board, the state commissioner of labor, two AFL-CIO representatives, two New York State Business Council representatives and two re...(register to read more)