What are Safety Groups?
Our NY Workers’ Compensation Safety Groups are Workers’ Compensation insurance programs that are underwritten by the New York State Insurance Fund (NYSIF). A State Fund Safety Group is a cost-plus plan for Workers’ Compensation Insurance producing low-cost non-profit coverage for groups of employers with similar operational hazards. As an incentive to Group Members to practice safety, the State Fund returns generated savings in the form of dividends to the Group Members. Hence, every dollar saved by a prevented or properly managed claim is a whole dollar returned to Group Members.
Eligible members are entitled to a competitive premium discount and to participate in group dividends. Dividends are not guaranteed and based on group performance.
For more information regarding our Safety Group Programs, contact us directly at 800-523-5516 or email@example.com