Premium Adjustment

Construction Classification Premium Adjustment Program

General Description The New York Construction Classification Premium Adjustment Program (NYCCPAP) addresses the premium differences between high wage and low wage paying employers having similar construction operations. Premium credits based upon the hourly wage rate paid by the employer and the distribution of classifications shown on the employer’s policy are developed by the Rating Board and applied to the insured’s premium.

 

Eligibility

You are eligible for this program if you meet the following three conditions:

  1. Your policy contains one or more eligible construction classifications. A current and complete list of these classes is included below:

0042 3365 3724 3726 3737 5000 5022 5037 5040 5057 5059 5069

5102 5160 5183 5184 5188 5190 5193 5213 5221 5222 5223 5348

5402 5403 5428 5429 5443 5445 5462 5473 5474 5479 5480 5491

5506 5507 5508 5536 5538 5545 5547 5606 5610 5645 5648 5651

5701 5703 5709 6003 6005 6017 6018 6045 6204 6216 6217 6229

6233 6235 6251 6252 6260 6306 6319 6325 6400 6701 7536 7538

7601 7855 8227 9526 9527 9534 9539 9545 9549 9553

  1. Your policy is experience rated.
  2. You have at least one employer with an average hourly wage of $23.25 or higher.

 

Application of Program

If you are eligible for the Program, you will receive an application form from the Rating Board or your insurance company which, when completed, must be returned to the Rating Board for verification and computation of the premium credit. Once verified and computed, your insurance carrier will receive the credit calculation which is then applied to your renewal policy.

If you did not receive an application, but think you may be eligible, a copy of the Application and Instructions can be obtained by clicking on the Forms section of our Home Page.

Confidentiality The application and information you provide is considered confidential by the Rating Board and is only provided to you and your insurance carrier. Any other dissemination of this information is done only by your written request or permission.

Contact For further information concerning this Program, please contact the Rating Board’s Audit Division at (212) 697-3535, extension 116