| A Safety Group is a loss sensitive insurance program that enables employers in the same industry to pool their insurance premiums in the safety group with the goal of reducing the cost of their workers' compensation insurance. It gives small and medium sized employers the opportunity to participate in a type of program that is generally reserved for much larger employers.
Our Safety Groups are managed exclusively by us: Innovative Risk Concepts, Inc., and are underwritten, and fully insured by NYSIF. Safety Group members can never be assessed for additional premiums beyond their earned premiums for a given policy period, making our Safety Group programs truly safe for the employer from both a financial and an insurance standpoint.
Safety Groups operate on the same principle as an insurance carrier. While it is possible that an individual group member may have a substantial loss in any given year, most of the members will not. The Group program spreads the risk from the individual policyholder over the entire Group, which often allows part of the premiums to be returned to the members in the form of dividends**. To control the cost of workers' compensation insurance.
In addition...
-
Our members can count on a dedicated claims staff for assistance
-
No association or society membership pre-requisites are required
-
All group members have a common anniversary date for group accounting purposes
- Qualified members receive aggressive advanced premium discounts and can participate in monthly premium payment plans
- Members can print and email Certificates of Insurance through NYSIF's dedicated policyholder website
- An individual policyholder's loss experience rating is NOT affected by Group losses
- The affairs of the Group, including negotiating discounts, dividends**, and contingent balances are handled by our firm acting as the exclusive Group Manager
- The Group Manager works for the members NOT the insurance carrier
With nearly 100 safety group programs underwritten by NYSIF and almost $1 billion dollars in dividends returned over the past 10 years to group members, its no wonder these programs have been the choice for NYS employers for over 50 years.
Click below for more information on our Safety Group Programs
The NYS Building Service Contractors Trade Group
Representing maintenance and janitorial contractors throughout NYS
eligible classification code - 9030
The NYS Medical Arts Trade Group
Representing medical and dental outpatient practices throughout NYS
eligible classification code - 8832
The NYS Veterinarians Trade Group
Representing veterinary and related practices throughout NYS
eligible classification code - 8831
For additional information on NYSIF safety group programs click on www.nysif.com and click on the "About Workers' Compensation" section.
*NYSIF's Headquarters are located at 199 Church Street New York, NY 10007
**While dividends are not guaranteed and past performance is not a guarantee of future results, our premium savings record demonstrates our Groups' success.
| 