The New York Compensation Insurance Rating Board (NYCIRB) has announced an increase in the amount of construction contractors' payroll that can be counted when carriers calculate Workers' Compensation insurance premiums. Effective July 1, 2019, an individual employee's payroll will be capped at $1,401.17 per week. This is an increase from the current level of $1,357.11.
New York Insurance Law requires the construction industry payroll limitation. The law requires the amount to be adjusted every July 1 based on the New York State average weekly wage.