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 by submitting the following form:
- U89 - standard request for policy cancellation (also use this form for cancellation of a covered risk when more than one entity is covered under a single policy)
Mail all cancellation requests to:
NYSIFPO Box 66699
Albany, NY 12206
Upon receiving written notice, NYSIF cancels the policy 30 days from the postmark or requested cancellation date, whichever is later. Final payroll information will be required after cancellation.
Policies may be cancelled by NYSIF at any time for non-payment of premium. NYSIF applies a premium penalty when 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
If a business owes NYSIF premium on a cancelled policy, NYSIF may not issue a new policy to that entity without addressing the previous outstanding balance.
**Please be advised, if you also have a disability policy with NYSIF, you will need to submit a separate request.
Reinstatements
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