COVID-19 Update from New York State Insurance Fund
Message to Policyholders from the NYSIF
A message was released Friday, March 20th from the NYSIF with their response to COVID-19:
Extraordinary times call for extraordinary solutions. As the coronavirus (COVID-19) takes its toll on New York businesses, NYSIF stands ready to help by lowering your premium to reflect current business conditions and extending payment terms to those who need them.
We realize that some of our policyholders may be experiencing financial difficulties at this time. If you’ve experienced a significant decrease in your payroll, please contact your Policy Representative or Safety Group Manager to lower your premium. If you are experiencing coronavirus-related financial difficulties, we can adjust your premium payments to help meet your financial situation. To obtain contact information for your Policy Representative, please visit our website and have your policy number handy.
For those policyholders who do not have an NYSIF online account, we strongly encourage you to sign up; it’s simple and easy. Having an online account will allow you to access important, up to date policy information and will allow NYSIF to quickly and effectively communicate vital information to you. Create an online account now at nysif.com.
There are a number of organizations offering coronavirus-related financial assistance. Below are two you may find helpful.
NYC Small Business Services (grants to support your payroll and interest-free loans)
Small Business Administration (low-interest loans)
As always, NYSIF remains committed to meeting the needs of you and your employees. We want to help you and your business during the difficult days and weeks ahead. Thank you.
Please do not hesitate to reach out to us with any questions.