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For Clients: Client FAQ
Why do I need workers’ compensation insurance in New York?
New York law requires employers to obtain and continuously carry workers’ compensation coverage for all employees.
Workers’ compensation insurance provides the added benefit of exclusive remedy. Injured employees cannot sue their employer as workers’ compensation is their sole remedy.
What does a workers' compensation policy cover?
In the event that one of your employees is injured on the job or occupational disease, workers' compensation provides coverage for lost wages and medical expenses.
The covered medical expenses include, but are not limited to, emergency room/hospital stays, ongoing doctor’s appointments, diagnostic testing, physical/occupational therapy, prescription medication, and surgery.
Workers’ compensation also provides death benefit payments to eligible family members.
What is an Experience Modification and how is it determined?
The experience modification is calculated by comparing your actual claims to your expected claims based on your payroll and industry classification codes. The prior year's claims' experience is excluded from the annual calculation, and the claims from two, three and four years ago are included.
If your actual claims are more than expected for your payrolls and classifications, an additional premium is charged due to a debit experience modification factor greater than 1.00, and if they are less than expected, there’s a reduction in premium due to a credit experience modification factor less than 1.00.
Experience modifications are calculated annually by the New York Compensation Insurance Rating Board regardless of which carrier insures you.
Why should I join Friedlander Group?
Clients save up to 57.75% on their workers' compensation premiums.
Since 1992, we have saved thousands of our clients over $550 million.
Thousands of businesses received an average of a 28% dividend since 1992, in addition to group discounts up to 35%.
We have a team of industry-leading experts that will provide you with the following comprehensive services:
What is your average dividend since 1992?
Our average paid dividend is
When are dividends paid?
Dividends are paid approximately nine months after the groups’ expiration dates, directly from the New York State Insurance Fund.*
What are the pay plans that are available from the New York State Insurance Fund?
Clients have the option of paying 25% down and nine equal installments.
If a clients' annual premium is over $10,000, they can request the twelve equal monthly installments plan.
The New York State Insurance Fund also offers a PayGo program that bills you bi-weekly through your payroll company based upon your actual payroll.
Can I pay Friedlander Group administrative fee in installments?
Yes, in certain cases.
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