New York Farm Bureau (NYFB), together with the New York State Insurance Fund (NYSIF), announces a 45% dividend to be returned to its eligible Safety Group 486 members for their workers’ compensation policies. The return is a 5% increase over last year’s dividend. Eligible Safety Group 486 members will also enjoy a 25% upfront discount on next year’s policy, comprising a 20% NYSIF discount and an additional 5% NYFB discount.
Members should receive the dividend check from NYSIF within the next five to seven business days.
With an average dividend of 42% over the past five years, combined with the upfront discount, NYFB saves its members more than 50% on their workers’ compensation policies.
In addition, new workers’ compensation safety group class codes recently approved for NYFB Safety Group 486 are Butchering or Slaughtering (code 2081) and Packing House – All Operations (code 2089). These codes join 28 codes currently covered by Safety Group 486, with agricultural commodities ranging from dairy farms and beef operations to florists and Christmas tree farms.
A safety group pools together employers with similar operational hazards, spreading the risk from the individual policyholder to the entire group and reducing workers’ compensation policy costs. NYFB’s Safety Group 486 was started by farmers in 1967. In addition to annual dividends and up-front discounts, benefits of membership include free safety inspections and access to training materials, posters and online employee training.
A new or existing business in agriculture or a related field may join Safety Group 486 by being an active, continuous member of New York Farm Bureau. To join NYFB and become eligible for workers’ compensation insurance through Safety Group 486, call Michele Bates or Lucy Tefft at 1-800-342-4143 (press 4) or email wcinfo@nyfb.org.
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