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Friedlander's N.Y.
United Restaurants' Safety Group Pays 40% Dividend
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The Friedlander Group Inc., the group manager for United
Restaurants of New York Workers' Compensation Safety Group #556,
underwritten by the N.Y. State Insurance Fund, paid a 40 percent dividend
to approximately 740 members with policies effective during the year of Sept. 30, 2003, to Sept. 30, 2004.
This dividend is in addition to an advance premium discount of
up to 25 percent. A member with a standard premium of $10,000 paid $4,500
in premium, after discounts and dividends. The New York State assessment is
deferred until dividends are paid.
Adam Friedlander said the group has had an average dividend of
39 percent since 1993. More than 500 insurance brokers are using the safety
groups to gain and retain clients, according to Friedlander.
The Friedlander Group Inc, manages two other workers' comp
safety groups. The Retail Group of N.Y. #544 paid a dividend of 35 percent,
and the Wholesale Group of N.Y. #551 recently paid a 32 percent dividend,
in addition to up to 25 percent advance discounts. Since the inception of
the three groups, a total of $54 million in dividends has been paid to
members, in addition to the advance discounts.
Friedlander Group provides workers' comp for restaurants,
retailers, and restaurant owners in New York State.
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