As we alerted you last week, the Assembly Labor Committee heard and favorably reported A-3986, which increases the attorney contingency fee cap in workers’ compensation matters from 20% to 25%. This is the Assembly companion to S-2822, which passed the Senate Labor Committee in March and was added late last Friday to this past Monday’s Senate voting session and passed by the Senate. It is likely that A-3986 will be scheduled for a vote of the full Assembly in the coming weeks.
As we did last session, the League opposes this measure because it will increase costs and make staying under the 2% cap more difficult. We encourage you to reach out to your Assemblymembers to share your opposition. Please refer to League Conference Resolution 2023-14 “Urging Action to Provide Relief from Increased Insurance Costs” which details the basis of the League’s opposition.
Contact: Paul Penna, Senior Legislative Analyst, ppenna@njlm.org, 609-695-3481, x110.