About Workers' Compensation

Workers' compensation insurance protects employers from liability for on-the-job injuries resulting in employee disability or death, providing injured workers with monetary relief and medical benefits, or, in the case of death, survivor benefits to their dependents.

The New York Workers’ Compensation Law took effect on July 1, 1914. With few exceptions, most private and public employers of at least one person must carry coverage for their employees. Employers must demonstrate compliance with this compulsory law by prominently posting form C-105, "Notice of Compliance," at each place of business.

Employers in New York State may meet their workers’ compensation obligation by one of three ways:

  • Insuring with the New York State Insurance Fund (NYSIF);
  • Insuring with a private insurance carrier;
  • By self-insuring, or as a member of a self-insured trust.

NYSIF, a self-sustaining, not-for-profit New York State agency, is the largest writer of workers' compensation insurance in New York State. NYSIF is competitive insurance carrier available to any business with employees in New York State. NYSIF sells workers’ compensation, disability benefits, volunteer firefighters' and volunteer ambulance workers' insurance. By law, NYSIF is required to set workers’ compensation premiums at the lowest possible cost sufficient to maintain solvency.