What a Safety Group is, and how do they help employers save money on their workers’ compensation premiums?
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 together to form low-cost, non-for-profit Safety Groups, fully insured by the New York State Insurance Fund.
Members of these Safety Groups receive an upfront group discount of up to 35%. Premiums are pooled, and after paying claims and expenses, the profits of the group 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. And if you receive our 29-year average dividend of 28%, you’ll save an additional $1,820. Instead of $10,000, you only pay $4,680 in premium. That’s a total of 53% savings on your workers’ compensation.
Friedlander Group manages eight Safety Group's in the following industries:
- Oil & Fuel Dealers,
- Hotels & Motels,
- Home Healthcare Agencies,
- Residential Care Facilities, and
- Plumbing and Heating Wholesalers.
Since 1992, we have helped thousands of clients save $500,000,000 on their workers’ compensation insurance and clients have received $274,000,000 in dividends.
Our specialized services helped clients further reduce their costs by offering claims guidance, safety, audit, 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 reach out to me if you are interested in getting a quote on your workers' compensation insurance to see if you could be saving money on your premiums! email: email@example.com