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NJ CRIB Submits Rate Decrease for 2023

03 Oct, 2022 WorkersCompensation.com

                               

The NJ Compensation and Rating Bureau (NJCRIB) submitted a filing to the Department of Banking and Insurance seeking a 4.7% decrease in the overall premium and rate level effective January 1, 2023. 

 

 

The proposed revision is based on the most recent experience and a review of classification relativity. Additionally, the filing proposed several Manual amendments and changes to experience and retrospective rating values. 

By Jon L. Gelman

Courtesy of Workers' Compensation

 

If approved, this would be the eighth year in a row without an increase. 

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