NYCIRB

AcronymDefinition
NYCIRBNew York Compensation Insurance Rating Board
References in periodicals archive ?
Stroock partner Jack Bart negotiated the lease documents on behalf of NYCIRB, and Patterson Belknap partner Laurence Lenzner did the same on behalf of the Dursts.
A requested report prepared by the superintendent and sent to the governor and the Legislature on September 4 did acknowledge concerns regarding NYCIRB, including questioning "whether CIRB should continue in its current role as the exclusively statutorily delineated rate service organization.
The report does recommend two significant changes to NYCIRB.
But Monte Almer, NYCIRB president, pointed out that the restructuring is "still just a recommendation.
We are not aware of any time in the past that the New York Insurance Department found NYCIRB statistics to be either erroneous or inaccurate in any way, nor has NYCIRB established, as the article suggests, a pattern of changing numbers.
The article mentions the "sunset" of NYCIRB, and that NYCIRB was "established by statute," neither of which is an accurate statement.
NYCIRB does not "exchange" data with insurers, rather NYCIRB simply summarizes the aggregate data it receives from all its members, and thereafter broadly disseminates various reports and manuals to the industry at large (including non-members).
The article notes further--and others have confirmed--that "Spitzer's office had to scrap a set of charts and graphs used to project the impact of proposed changes after NYCIRB changed the presumptions behind the data supplied to negotiators.
By way of example, one participant told Insurance Advocate that after negotiators had factored into their agreement the anticipated savings from reform measures relating to prescription medications, NYCIRB "said the savings from those measures would be half what they originally said.
Even those generally supportive of NYCIRB may have had their faith shaken by the board's March 16 bulletin, which states that "[t]he quantifiable rate level effects of this legislation are currently being determined and will be incorporated into the rating board's October 1, 2007 general rate revision.
The report, in fact, does explain that "[t]he NYCIRB is not a New York State government agency; it is essentially an association of private workers' compensation insurers that is designated, under [state] law, to compile data on the workers' compensation system, and to recommend changes in premium levels and the rate structure.
In denying the NYCIRB request for a workers' compensation rate increase, he stated that "the insurers' efforts to fight fraud--both claimant and employer fraud--can be said to be anemic, at best.