The New York State Municipal Workers’ Compensation Alliance (Comp Alliance) is pleased to announce its will issue another Member Loyalty Award for its 2020-2021 fiscal year.
The Comp Alliance Board of Trustees recognizes the difficulties our members are going through in this unprecedented time. In appreciation of its members that have stood by the Comp Alliance and contributed to its continued success, the Comp Alliance will again distribute a portion of its surplus to members. This special monetary award reflects a recognition by the Board of Trustees of fiscal challenges faced by municipalities and provides a tangible benefit of municipal cooperation by returning funds to local governments and schools for the betterment of their communities.
All Comp Alliance members who agree to continue their membership with the Comp Alliance beyond February 1, 2021 are eligible for the Loyalty Award. Members will receive their award following the commencement of its new policy period. Award amounts are based on the individual member’s longevity of membership with the Comp Alliance and its annual funding contribution.
The Comp Alliance is a not-for-profit workers’ compensation group self-insurance program for municipalities and school districts, with a focus on improving workplace safety and providing stable funding for its members. When the Alliance was formed in the early 1990’s, municipalities in New York struggled to annually budget for unpredictable workers’ compensation costs. The Comp Alliance offers its members budgetary stability and the opportunity to achieve significant savings by sharing the costs of workers’ compensation insurance. Today, the Comp Alliance has over 300 members, $46 million in contributions and more than $39 million surplus to help maintain long-term financial stability.
With sponsorship and oversight by the Association of Towns of the State of New York and New York State Conference of Mayors, the Comp Alliance’s mission remains the same as it was 25 years ago —ensuring members are able to meet their long-term workers’ compensation liabilities while maintaining stable funding contributions.
For more information on the Member Loyalty Award Program, please contact a Comp Alliance Marketing Manager or your insurance broker. Visit the Comp Alliance at www.compalliance.org for more information, as well as on Twitter and Facebook for additional program enhancements and announcements.
Thank you for your support and stay well!