A safety group is a loss sensitive insurance program that enables employers in the same industry to pool their insurance premiums with the goal of reducing the cost of workers' compensation insurance. It gives small and medium sized employers the opportunity to participate in the type of program that is usually reserved for larger employers.

A New York State Insurance Fund safety group operates on the same principle as an insurance carrier. While it is possible that an individual group member may have substantial losses in any given year, most of the members of the group will not. The group program spreads the risk from the individual policyholder to the entire group. That often allows part of the premiums to be returned to the members in the form of dividends. Our groups have paid a dividend every year since their inception. To reduce the cost of workers' compensation insurance, our safety groups encourage measures to prevent accidents and make the workplace as safe as possible.

Our safety group programs are a fully insured plan. Safety group members can never be assessed for additional premiums beyond their earned premiums for a given policy year. There is no exposure to joint and several liability, as is the case with self insured programs. That makes our safety group program truly safe for the employer from both a financial and an insurance standpoint.

For more information, call:

Rick Mege at (516) 488-2800 x21, or
Paul Garritan at (516) 488-2800 x22.