Workers compensation costs are set to go down for businesses in New York next year.

The department of financial services approved a nearly 12 percent drop in premiums.

That follows a four and half percent drop this year.

All told, the Business Council of New York State calculates this means a billion dollars in savings for employers around the state.

And the council credits 20-17 legislation with the change.

Lev Ginsburg from the Business Council talks about this more.