New York State Public Entities Safety Group launches new Web site
(September 23, 2011) New York State Public Entities Safety Group 497 is pleased to announce the launch of its newly designed Web site. According to Executive Committee Chairman Bruce Guttenplan, “The newly designed Web site offers members and agents an enhanced tool for managing their account(s), filing claims and staying informed with updated material regarding both the Group and their individual policy. The Web site will also be an additional resource for Safety and Educational material to help members promote a safe work environment.”
First Annual Frederick C. Webster Memorial Scholarship
(September 19, 2011) NYS Public Entities Safety Group 497 is pleased to annouce the creation of the Frederick C. Webster Memorial Scholarship. This scholarship was established for the purpose of annually providing monetary assistance to deserving individuals interested in pursuing a degree in the Public Service sector. This includes, but is not limited to, Fire & Emergency Services, Political Science, Public Administration and Library Science. A maximum of (4) scholarships of $2,500 per award will be given annually.
This scholarship is dedicated to the memory of
Frederick C. Webster who was a former Executive Committee Member of Safety Group
497 and a Past Chief and Chairman of the Board of Commissioners for Elsmere Fire
District in Delmar, NY. This scholarship honors his spirit, dedication and
service to his community. Learn
more here.
New VFBL Rates
(September 13, 2011) The New York Compensation Insurance Rating Board has announced a 5.7% increase in VFBL loss cost to become effective on policies with rating anniversaries Oct. 1 and thereafter. Please note, however, that this is just one-half of the rate-setting process and therefore does NOT represent the new and “final” VFBL rates.
The second half of the actual rate is determined by the Loss Costs Multiplier (LCM) applied by each carrier to the Rating Board’s loss cost. While there is no anticipation that there will be any change in the Fund’s LCM, a final decision can only be made by the State Fund Board of Commissioners. No increase in the current 1.43 LCM will result in the rate increase remaining at 5.7%.
The New York Assessment charge on VFBL policies will increase from 7.3% to 8.5%.
Foreign and domestic terrorism will continue to be combined in a single terrorism charge. Natural Disasters and Catastrophic Industrial Accidents will also continue to be shown separately on the policy information page.
