Circular Letter No. 12 (2005)

July 22, 2005

STATUTORY REFERENCE:  Sections 108 and 109 of the Workers' Compensation Law

Please be advised that pursuant to the authority granted the Superintendent pursuant to the provisions of Chapter 33 of the Laws of 2005, the assessment rate charged to workers" compensation carriers into the Workers' Compensation Security Fund is hereby increased to 2% of each carrier's net written premiums, less the amount of dividends paid to policyholders, as shown on the quarterly report return form required to be filed by Section 108.

The first quarterly payment reflecting the 2% assessment rate will be due on or before August 15, 2005 for the quarter ending June 30, 2005. The required report forms, additional information and instructions will follow both in hard copy and on the Department website.

Please acknowledge receipt of this letter and refer any questions to:

Christopher F. Rulon
Assistant Director of Administration and Operations
One Commerce Plaza, Ste. 1850
Albany, NY 12257

Very truly yours,

____________________
Howard Mills
Superintendent of Insurance