New York Approves 22% Workers’ Compensation Cost Reduction

New York has approved a 21.9% reduction in workers’ compensation insurance premium rates, which the state says represents an estimated savings of more than $1 billion for businesses or an average of $1,779 per employer in the state. The loss …

Commercial risk teams are responding with tighter controls, scenario modeling, and broader collaboration across underwriting, claims, and cyber operations.

Leaders continue to prioritize resilience planning while balancing cost, coverage terms, and operational exposure in a changing market cycle.