In his first ever State of Upstate address this morning, New York Gov. Eliot Spitzer praised last year’s passage of the Empire State’s landmark workers’ compensation insurance reform as a key victory for businesses in Northern N.Y.
The reforms, which lowered the costs or workers’ compensation insurance, came after months of difficult negotiation between legislators, carriers, labor groups and businesses.
“We finally addressed our broken workers’ compensation system and unlocked $1.2 billion in savings for New York’s businesses,” Spitzer said. “This year, we will continue realizing those savings, but we will also work more aggressively to lower taxes and energy costs.”
In the speech, a copy of which was released before the address, Spitzer made no mention of any further plans to tweak the reforms – some of which have increasingly been criticized by insurers in recent months.
It was the only insurance issue mentioned by Spitzer in the speech.
Was this article valuable?
Here are more articles you may enjoy.