All articles by Tatyana Redko
When is Late Payment of Settlement Monies Excused?
Once a penalty for late payment pursuant to an approved settlement agreement is assessed under N.Y. Workers’ Compensation Law § 25 (3) (f), it is automatic, mandatory, and self-executing. This means that virtually no excuse will get you out of paying the hefty fine of 20 percent of the overall settlement agreement and an additional $50 fine due to the state treasury. An office error or clerical mistake will not be sufficient to reverse the penalty. For example, a carrier