State Fund Insurance
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NYSIF is a non-profit agency of the State of New York, consisting of two separate "funds" -- the Workers' Compensation Fund, created in 1914, insuring employers against occupational injury and disease suffered by their employees, and the Disability Benefits Fund, established in 1949, which insures against disabling off-the-job sickness or injury sustained by employees.
New York voters approved a referendum which led to the Workers' Compensation Act of 1914. Since the employer was to assume the cost of benefits, the Legislature opted for a competitive insurance system which gave the employer the option of one of three means for obtaining workers' compensation insurance -- through self-insur...
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