Governor Cuomo Announces $370 Million in Bonds to Resolve Workers’ Compensation Claims
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Governor
"Through the 2013 Business Relief Act, the State is providing a practical and affordable way for thousands of businesses to meet their responsibilities so that injured workers can receive the compensation they deserve,"
The bonds, issued through the
Transferring claims to insurance companies provides for the payment of benefits to injured workers; currently, the Board pays their claims and is engaged in legal proceedings to recoup those costs. The insurance does not relieve trust members of liability, but it does create a clear and lower-cost mechanism for employers to meet their obligations toward their injured and ill employees. Assumption of liability insurance also caps the cost of these claims for employers, at a favorable price.
Chair
DASNY President
President and
Executive Director
Executive Director
President
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