The New York State Insurance Fund is pleased to share a new resource at nysif.com to assist representatives and employers interested in coverage with a NYSIF Safety Group. NYSIF has more than 100 Safety Groups, offering workers' comp coverage for nearly 500 different class codes.
We've created a new web page in our "Looking for Insurance" section that displays a listing of class codes underwritten by at least one Safety Group. Once a user chooses the appropriate class code, the relevant Group Manager’s contact information will display in the right column. In many cases, more than one group may offer coverage; in that case, the list will be generated in numerical order by group number.
A Safety Group is comprised of employers with similar operational hazards that are grouped together to reduce their workers' compensation costs. This spreads the risk from the individual policyholder to the entire group. The premiums of the group are pooled together, while the group works to improve safety and limit injuries. Participants may receive advance discounts and share in earned group dividends.
We expect this enhancement to simplify the process for prospective policyholders and their representatives seeking information on Safety Group eligibility and potential coverage.