ALBANY — New York State’s largest workers’ compensation carrier — the New York State Insurance Fund — introduced a new COVID-19 Personal Protective Equipment Premium Credit Program that will make it more affordable for its policyholders to get back to business.
The new initiative was announced by NYSIF in a news release.
Under the program, current workers’ comp policyholders can earn a 5 percent credit of their annual premium on the purchase of PPE, with a maximum reimbursement of $500.
The program is designed to help offset the cost of vital PPE and safety-related items needed to help protect workers from the coronavirus. Eligible equipment includes masks, goggles, gloves, gowns, hand sanitizer and other COVID-19 safety-related items.
“With the PPE Premium Credit Program, we aim to assist companies around the state make the transition back to work in a safe and affordable way,” said Eric Madoff, NTSIF’s executive director. “As a partner in safety, we are here to help our policyholders keep themselves, their employees and their businesses protected.”
NYSIF is among the top 10 largest workers’ compensation carriers in the nation, insuring approximately 150,000 policyholders in the state.