Workers' Compensation

By joining the NYSPHCC you will be eligible for many benefits. One benefit that we are extremely proud of is our Workers' Compensation Insurance Program. It is a Safety Group or, a group of your peers underwritten by the State Insurance Fund.

NYSPHCC is proud to announce that the last dividend declared this May, for our members in S.I.F. Safety Group #501 was 30%. Along with discounts of up to 20%, these members realized a savings of up to 50%. This gives the group an average of 35% for the last 8 years. Formed over 50 years ago, this group has never missed a yearly dividend.

The contractors within this program have an advantage of receiving dividends yearly in addition to a favorable up front discount for qualifying members. This yearly remittance is made possible by practicing good safety habits and keeping claims to a minimum. This, of course, will also relate to a lower individual experience modification.

There are other programs that attempt to emulate what a State Insurance Fund Safety Group provides; however, the shortcomings of such programs could potentially be detrimental to the profitability of your business. Your company could be exposed for many years of costly assessments that you have no control over. With a State Fund program you do not have this added exposure. There is never an added assessment beyond your experience rating period. If you would like more information about our program we invite you to call.