Safety Groups Save NY Employers on Their Workers' Comp

Safety Groups Save NY Employers on Their Workers' Comp

February 20, 2024

What is a Workers' Compensation Safety Group?

Most employers feel like workers’ compensation is another tax, only with more headaches.

Luckily, there’s some good news!

In New York, thousands of safety-conscious employers joined to form low-cost, not-for-profit Safety Groups, fully insured by the New York State Insurance Fund (NYSIF).

Members of these Safety Groups receive an upfront group discount of up to 35%. Premiums are pooled, and after paying claims and expenses, the group's profits are returned to members in the form of a dividend, which is not guaranteed.

If you join a Safety Group with a premium of $10,000 and you qualify for the full upfront discount of 35%, you immediately save $3,500. If you receive our 31-year average dividend of 31%, you’ll save an additional $2,015. Instead of $10,000, you only pay $4,485 in premiums.

That’s a total of 66% savings on your workers’ compensation. 

Friedlander Group manages nine Safety Group's in the following industries in New York:

  • Retailers
  • Wholesalers
  • Restaurants
  • Oil & Fuel Dealers
  • Hotels & Motels
  • Home Healthcare Agencies
  • Residential Care Facilities
  • Plumbing and Heating Wholesalers
  • Financial Services

Since 1992, we have helped thousands of clients save $600 Million on their workers’ compensation insurance and clients have received $348 Million in dividends.

Our unique services help clients further reduce their costs by offering professional claims guidance, safety services, audit services, and fraud prevention services.

By outsourcing your workers’ compensation headaches to us, clients can focus on what they do best while maximizing their productivity and profits!

Please contact us if you are interested in getting a quote on your workers' compensation insurance to see if you could save money on your premiums.

ginab@friedlandergroup.com | 914-259-6390