New York Workers’ Compensation Premiums To Decrease In 2018

Workers’ Compensation premiums for jockeys and exercise riders in New York are set to decline for the first time in 10 years. The New York Jockey Injury Compensation Fund told bloodhorse.com that overall premiums will drop by $750,000 in 2018; the 2017 total was approximately $9 million.

“The workers’ comp crisis cannot be solved in one year,” said New York Thoroughbred Horsemen’s Association President Joseph Appelbaum. “We have an ongoing commitment to safety and claims management, and will continue to explore all options for program structure. Our work has just started, but we believe we are on a path that will save money for New York’s horsemen and make the state a better place to do business.”

Both horsemen at NYRA and Finger Lakes are affected by the announcement. Former NYTHA president Rick Violette credits the lower costs to the addition of two new insurance experts, additional safety measures, and new claims management procedures by new insurer Zurich Insurance Group.

Read more at bloodhorse.com.

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