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Low premiums
enjoyed by the membership are a direct
result of the trust’s low administrative
costs and return on investments. Effective
loss control measures have also played a key
role in producing this outcome.
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The trust
sets its own premium rates based on the
claims experience of the group. The
membership is not charged for the poor
experience of others in the industry that do
not practice effective loss control
measures. State-mandated rates, surcharges
and other related costs do not apply to the
trust.
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Many of the
trust’s services can be tailored to the
specific needs of a member agency. Loss
control services, for example, serve to
reduce the frequency and severity of
employee injuries. This is especially
important when addressing employee
recruitment and retention issues.
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Excess
Insurance is purchased by the trust in order
to reimburse for catastrophic claims.
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The Human
Services Self-Insurance Trust Fund complies
with all reporting requirements of the State
of New York Workers Compensation Board and
the NYS Self-Insurance Department. |
