The Jockey Injury Compensation Fund has released its 2016 Workers’ Compensation Premium Assessment and Formula. Click here for the details of the JICF plan.
Addressing the concerns of New York’s horsemen on the issue, NYTHA President Rick Violette Jr. said, “The New York Thoroughbred Horsemen’s Association and the Jockey Injury Compensation Fund are once again working together on a short-term solution to the continuing increases in the premiums for the Workers’ Comp policy for jockeys and exercise riders. We will be proposing legislation that will utilize a small portion of the purse cushion to offset the increase. If this legislation is enacted, it will eliminate the need for the second base payment of $1,000, due June 1, 2016, so that the base payment will remain at the 2015 level of $1,500. The bill would have no impact on purse levels.
“We are also working on safety measures that will help bring down the cost of worker’s comp insurance, and, as we have been, looking at long-term solutions to this crisis.”