The Workers’ Compensation System is comprised of the Board, other New York State agencies and insurance carriers.
Workers’ Compensation Board
The New York State Workers’ Compensation Board administers the New York State Workers’ Compensation Law. It is responsible for settling claims and ensuring that employers provide the required coverage to their employees.
New York State Workers’ Compensation Board
328 State Street
Schenectady, NY 12305-2318
Phone: (877) 632-4996
Contact for information regarding:
- Workers’ Compensation Law
- Corporate Officer Options
- Medical Provider Requirements
- Disputed Medical Bills
New York State Department of Labor
The New York State Department of Labor is responsible for developing the State’s average weekly wage for purposes of computing maximum weekly workers’ compensation benefits. In addition, the New York State Department of Labor assists the Workers’ Compensation Board with producing the annual Safety Net Report by providing information on permanent partial disability claimants who have returned to work through the matching of claimants to Unemployment Insurance wage record data.
More broadly, the agency is charged with connecting job seekers to employment, protecting workers, paying benefits to workers who have lost their job through no fault of their own and working with businesses to develop their workforces. The Department of Labor is committed to working with businesses to ensure compliance with all facets of the Labor Law, including wage and hour regulations, safety and health provisions, and Unemployment Insurance contributions.
Compensation Insurance Rating Board
The New York Compensation Insurance Rating Board (CIRB) is a nonprofit, unincorporated association of insurance carriers, including the New York State Insurance Fund.
CIRB is licensed as the official organization to collect data and develop workers’ compensation rates. CIRB analyzes that data and recommends annual reductions or increases in premium rates to the Department of Financial Services.
CIRB also develops experience modification factors for employers with premiums above $5,000, and establishes the rules, procedures, and classifications governing the underwriting of workers’ compensation insurance and employer liability insurance.
New York Compensation Insurance Rating Board
733 Third Avenue, New York, NY 10017
Contact with questions regarding:
- Experience Modification Factors
- Underwriting Rules
New York State Department of Financial Services
The New York State Department of Financial Services’ (DFS) Insurance Division supervises all insurance companies that do business in New York. The Insurance Division oversees nearly 1,700 insurance companies with assets exceeding $4.2 trillion. The Division includes the Property, Life, and Health Bureaus.
The Department regulates the financial condition, corporate conduct and administration of the Insurance Law. Supervision by DFS may entail chartering, licensing, registration requirements, examination, etc. The Department also regulates policy forms and rates for these types of insurance, and monitors and investigates insurers’ market conduct practices.
Insurers are made up of private insurance carriers, the New York State Insurance Fund, self-insured employers, and employers that are participating in group self-insurance.
Private Insurance Carriers
Private insurance carriers collect premiums from employers to pay for the claims and related medical expenses of employees who are injured on the job.
Over 200 private insurance carriers are currently authorized by the Department of Financial Services to provide workers’ compensation insurance to employers.
State Insurance Fund
The New York State Insurance Fund (NYSIF) is a non-profit agency of the State of New York that offers both workers’ compensation insurance and NYS disability and Paid Family Leave benefits insurance.
NYSIF must provide insurance to any employer seeking coverage, regardless of the employer’s type of business, safety record or size. However, if an employer owes NYSIF money from a previous bill or account, coverage can be denied.
New York State Insurance Fund
199 Church St.
New York, NY 10007
Phone: (888) 875-5790 or (212) 312-9000
Contact with questions regarding:
- Buying a policy
- Corporate Office Exemptions
- Payroll Reporting
- Policy Cancellations
Individual self-insurance (large corporate) is primarily used by larger employers who can meet the significant financial standards to self-insure.
Joining a self-insured group is an alternative that allows smaller employers who may not meet the criteria for individual self-insurance to have the privilege of self-insurance. Self-insured groups consist of employers performing related activities in each industry (the prospective member must meet these homogeneity requirements) that contractually agree to assume the workers’ compensation liabilities of each associated member. Membership opportunities in self-insured groups is limited to three groups.
Employers who wish to self-insure may do so in one of two ways:
- Applying to individually self-insure through the WCB Office of Self-Insurance.
- Applying to become a member of a self-insured group by contacting the group’s administrator.
For more information, contact the WCB Office of Self-Insurance at (518) 402-0247 or email email@example.com.