Have you tried our new Virtual Payroll Verification option to complete your yearly workers’ compensation audit remotely? We’ve made the process as easy and convenient as can be. This new option allows you to complete the entire process via videoconference.
To help policyholders recover from the COVID-19 business shutdown, NYSIF is waiving interest on audit balances through August 31, 2021. This is the next step in our COVID-19 Financial Relief Program, which has gone well beyond the industry standard to provide our policyholders with timely financial relief.
More than 4,000 NYSIF policyholders have received our personal protective equipment (PPE) credit to offset the purchase of PPE and other safety items for employees during the COVID-19 pandemic. The credit, announced in August, is available to all active workers’ compensation policyholders.
Our Underwriting team has introduced a new payroll reporting process that will save policyholders time by automating much of electronic payroll reporting. To simplify the online payroll reporting process and save customers time, we now pre-calculate chargeable payroll.
NYSIF has introduced changes to help our policyholders manage their online accounts with greater convenience. Now, it’s much easier for workers’ compensation and disability benefits policyholders with online accounts to choose how much access to grant to authorized users.
Following guidelines issued by federal agencies such as the Centers for Disease Control and Prevention (CDC) can help you protect your workers and customers by reducing the risk of exposure to COVID-19 in the workplace. Adhering to requirements specific to New York State and your industry is also important.
The New York State Department of Financial Services (DFS) has approved a decrease of 1.0% in the overall loss cost level, effective October 1, 2020. Effective January 1, 2021, the Workers' Comp Board announced that its assessment charge for all employers will drop to 11.8% of standard premium.