Who’s NYSIF and Why does everyone dislike them?

NYSIF is the New York State Insurance Fund.


Who is NYSIF?

NYSIF is the 800lb gorilla market of last resort for New York Workers Compensation (WC)

Why do businesses use NYSIF?

NYSIF is used when no other insurance carriers are willing to offer you a quote for your New York Workers Compensation. (I.E. almost every contractor working in New York)

How much does NYSIF cost?

From a straight cost perspective NYSIF usually isn’t the most expensive option. The pricing is in line with private insurance carriers, and often cheaper for higher risk businesses.

Why does everyone hate NYSIF?

To be honest, they make everything difficult. From signing up for a policy to paying and cancelling. Sometimes you’ll get so frustrated you’ll want to pay more to move your WC coverage.

Really, why does everyone hate NYSIF?


Every carrier does audits, but no one does audits like NYSIF. It’s more like an IRS audit than a typical WC audit. They want everything including invoices from your jobs for the last twelve months! Hello… can you say zero trust?!


Only NYSIF can send you a bill leaving you more confused than if they just didn’t send anything at all. Oh and forget calling the Billing department… prepare for 60+ minutes of hold time. With that said, it becomes a good time to check out the latest fail video compilations on YouTube.


How about requiring you to give them 30 days’ notice you are thinking about leaving them?

I don’t know about you, but I can hardly pick what I am having for dinner an hour before, let alone know if I am moving my WC policy 30 days in advance.

Bottom line

NYSIF is trying to do things to improve. The recent addition of e-sign for new applications helps. But it’s only addressing one part of the catastrophe that is working with NYSIF.

The majority of New York contractors work with NYSIF but very few have a pleasant experience. While we can’t guarantee everything will go smooth, we fight like hell to make it go as smooth as possible.

Need help with your Workers Compensation or NYSIF?

We are happy to help.


For Immediate Help Call 845.205.0769

Agents Available 24/7

We will be in contact with you as soon as possible.