NYSMTA Workers' Compensation Safety Group
The NYSMTA Workers’ Compensation Safety Group was created in 2011, shortly after the New York State Workers’ Compensation Board made the decision to close the NYSMTA Workers’ Compensation Group Trust.
Safety groups are workers’ compensation insurance programs that are underwritten by the New York State Insurance Fund (NYSIF). A State Fund safety group is a cost-plus plan for workers’ compensation insurance producing low-cost non-profit coverage for groups of employers with similar operational hazards. As an incentive to group members to operate safely, the State Fund returns generated savings in the form of dividends to the group members. Hence, every dollar saved by a prevented or properly managed claim is a whole dollar returned to group members. Unlike a group trust program, there is no joint and several liability in a safety group.
Keevily Spero Whitelaw Insurance manages and runs the safety group and is able to provide quotes on workers compensation insurance for NYSMTA members, at a significant discount.
For more information, please contact Mike Cryan at (716) 250-4291.