Your NYSIF workers’ compensation policy automatically renews on the policy anniversary date. You may request cancellation of a policy if you are no longer required by law to secure coverage, or you wish to secure coverage with another carrier.
To cancel a policy, the policyholder or authorized representative must submit a signed request stating the reason for cancellation as described above using one of the following forms:
- U89NB - for policies of short duration
- U89A - standard request for policy cancellation
- U89E - for cancellation of a covered risk when more than one entity is covered under a single policy
Mail all cancellation requests to:NYSIF Document Control Center
1 Watervliet Avenue Extension
Albany, NY 12206
Upon receiving written notice, NYSIF cancels the policy 30 days from the postmark or requested cancellation date, whichever is later.
Policies may be cancelled by NYSIF at any time for non-payment of premium. NYSIF applies a premium penalty when the any of the following apply:
- Policyholder requests cancellation on the anniversary date with fewer than 30 days notice
- Policyholder requests cancellation on a date different from the anniversary date
- Policy is cancelled for non-payment
NYSIF will not issue a policy for any business that is owned or controlled by any person who directly or indirectly owes NYSIF premium on a cancelled policy.
NYSIF will reinstate a policy prior to the cancellation date under the following conditions:
- The request to reinstate is submitted in writing and signed by the owner, corporate officer, or the authorized representative
- Any required premium payment is received and posted by NYSIF prior to the cancellation date