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CIRB Changes Manual

 State: NY

 

NYCIRB Announces Changes to Comp Manual

 

The New York Compensation Insurance Rating Board last week announced changes to the Workers' Compensation and Employer Liability Manual involving premiums for executives and  subcontractors.

 

NYCIRB said in regulatory notices that the New York Department of Financial  Services has approved a clarification  on the premium determination for executive officers subject to construction classifications for new and renewal business, effective Aug. 1, 2013.

 

The clarifying language indicates that the minimum  payroll for executive officers would include executives subject to construction classifications.

 

NYCIRB said not-for-profit  associations and corporations may elect to exclude unsalaried executive officers from coverage. A written notice must be filed with a carrier on a form prescribed by the New York Workers' Compensation Board.

 

Almer said regulators also approved a manual update to classification  procedures for uninsured subcontractors and individuals.  Those changes also took effect on Aug. 1.

 

NYCIRB said a manual change provides clarification on issues regarding the classification of uninsured subcontractors or individuals identified as employees when performing construction and nonconstruction operations.

 

The bulletins are here.

 

Source: NYCIRB

 

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