Not All N.Y. Workers’ Compensation Self-Insurance Trusts are in Trouble

July 11, 2008

New York officials have closed 14 workers’ compensation self-insured trusts in the past few years and questioned the financial stability of 22 others.

However, that still leaves 29 group trusts operating in the state and providing insurance to about a half million workers that have been given a clean bill of financial health by the New York Workers’ Compensation Board.

The 29 trusts (and their administrators) identified by NYWCB as having “no funding issues” are:

• Associated Builders & Contractors Compensation Trust
(Reller Risk Management)
• Business Council WC Manufacturers Group Trust
(First Cardinal)
• Contractors Compensation Trust
(First Cardinal)
• Contractors Self-Insurance Trust Fund
(Neuman Claims Administrators)
• Cooperative Association of Food Enterprises WC Trust
(First Cardinal)
• ELEC-CON Trust
(First Cardinal)
• Electrical Employers Self-Insurance Safety Plan
(Self-Administered)
• Empire State Agricultural Compensation Trust
(Agri Services Agency)
• Empire State Education Trust
(First Cardinal)
• Empire State Hospitality WC Trust
(First Cardinal)
• Empire State Transportation WC Trust
(First Cardinal)
• First Automotive Services Trust
(First Cardinal)
• Healthcare of N.Y. WC Trust
(SAFE LLC)
• Hudson Healthcare WC Group Trust
(Webster Insurance)
• Human Services Self-Insurance Trust Fund
(FCS Administrators)
• N.Y. Bus Operators Compensation Trust
(Arthur J. Gallagher & Co.)
• N.Y. Choice Self-Insurance Trust
(FCS Administrators)
• N.Y. College & University Risk Management Group
(Marsh USA)
• N.Y. Lumbermen’s Insurance Trust Fund
(W.J. Cox Associates)
• N.Y. Operators Self Insurance Trust
(Arthur J. Gallagher & Co.)
• N.Y. State Health Providers WC Trust
(Self Administered)
• N.Y. State Motor Truck Association Comp Trust
(Hughes Affiliates)
• Niagara Business Trust
(FCS Administrators)
• Northeast Health Workers’ Compensation Plan
(Self Administered)
• N.Y. Transportation Workers’ Compensation Trust
(First Cardinal)
• NYAHSA Services Inc. Self Insurance Trust
(Cool Insuring Agency)
• Printing Industries Association Trust
(Neuman Claim Administrators)
• Retailers of N.Y. WC Trust
(First Cardinal)
• Special Trades Contracting & Construction Trust
(N.Y. Compensation Managers)

Source: NYWCB Summary of Funding Status,
May 16, 2008

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