NEW YORK, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The New York State Insurance Fund (NYSIF), the state’s largest workers’ compensation insurer, announced that for the first time in its 108-year history it will extend coverage to out-of-state employees, helping its policyholders simplify their benefits planning. The new program arises from 2021 legislation permitting NYSIF to provide workers’ comp for its policyholders’ employees across the United States.
“Since 1914, NYSIF has guaranteed the availability of workers' compensation insurance at the lowest possible cost to New York employers,” said NYSIF Executive Director and CEO Gaurav Vasisht. “We now extend that offer to workers in states beyond New York, permiting NYSIF policyholders to benefit from NYSIF’s competitive rates for all their employees.”
Under the initiative, any New York-based employer that has at least 50% of its workforce based in the state can offer its out-of-state employees NYSIF workers’ compensation coverage, and will no longer have to incur the additional cost of procuring a policy from another insurer for out of state employees. New NYSIF customers with satellite offices or remote workers out of state are also eligible for the program.
NYSIF policyholders who wish to add their out-of-state workers to their current NYSIF workers’ compensation policy can contact an underwriter at www.nysif.com/outofstatecoverage. New customers can also get information at 866-405-5498.
NYSIF’s new out-of-state coverage does not apply to disability or paid family leave policies.
About NYSIF
With nearly 200,000 policyholders, $1.9 billion in annual premiums, and over $20 billion in invested assets, NYSIF is the largest workers' compensation insurer in New York State and among the 10 largest nationwide. NYSIF's mission is to guarantee the availability of workers' compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception in 1914, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers who cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.
