Worker's Compensation Insurance
NY Small Group Plans has partnered with 0ver 100 safety groups and many insurance companies including Travelers Insurance, Chubb, CNA, Hanover, Harleysville, The Hartford, Grange, The Andover Companies, Zurich and others to reduce the cost of Workers Compensation Insurance and liability insurance. If your business has Workers Compensation insurance through the state insurance fund or through any other private insurance company you should give us a try. Usually within one day we can give you a quote, there is no cost or obligation, on average our new clients will save 25% or more off their current policy.
Attention: construction businesses or contractors: We require that you have current workers comp insurance for a minimum of 2 years. We also require a current minimum yearly payroll of $50,000 for any quotes. Please have your current policy and loss runs available.
Please fill out this simple form for a quick and low cost Workers Compensation Quote or you can call 631-963-6020 to speak directly with a broker. We service NY and NJ. We are located in NY.
Workers compensation insurance is mandatory for all businesses with employees. Workers compensation protects workers for injuries and illnesses suffered while working. ( see benefits below)
Worker's Compensation Benefits
Cash benefits are not paid for the first seven days of the disability, unless it extends beyond fourteen days. In that case, the worker may receive cash benefits from the first work day off the job. Necessary medical care is provided no matter how short or how long the length of the disability.
Claimants who are totally or partially disabled and unable to work for more than seven days receive cash benefits. The amount that a worker receives is based on his/her average weekly wage for the previous year. The following formula is used to calculate benefits:
2/3 x average weekly wage x % of disability = weekly benefit
Therefore, a claimant who was earning $400 per week and is totally (100%) disabled would receive $266.67 per week. A partially disabled claimant (50%) would receive $133.34 per week. The weekly benefit cannot exceed the following maximums, however, which are based on the date of accident:
If you can return to work but your injury prevents you from earning the same wages you once did, you may be entitled to a benefit that will make up two-thirds of the difference.
Schedule of Benefits
|Date of Accident
Total / Partial
|July 1, 1985 - June 30, 1990
||$300 / $150
|July 1, 1990 - June 30, 1991
||$340 / $280
|July 1, 1991 - June 30, 1992
||$350 / $350
|July 1, 1992 - June 30, 2007
||$400 / $400
|July 1, 2007 - June 30, 2008
||$500 / $500
|July 1, 2008 - June 30, 2009
||$550 / $550
|July 1, 2009 - June 30, 2010
||$600 / $600
|July 1, 2010 - June 30, 2011
||$739.83 / $739.83
|July 1, 2011 - June 30, 2012
||$772.96 / $772.96
|July 1, 2012 - June 30, 2013
||$792.07 / $792.07
|July 1st of each succeeding year
||2/3 of NYSAWW*
* NYSAWW is the New York State Average Weekly Wage which is the average weekly wage of the state of New York for the previous calendar year as reported by the Commissioner of Labor to the Superintendent of Insurance on March 31 of each year.
Note: The benefit rate a claimant receives (determined by his/her date of injury) does not increase if new maximum benefits are adopted into law.