The New York State Municipal Workers' Compensation Alliance (Comp Alliance) has issued a Member Loyalty Award for its 2020-2021 fiscal year. Award checks have been distributed to all current members. Award amounts are based on the individual member's longevity of membership with the Comp Alliance and their annual funding contribution. Those with June and July effective dates received their checks later in the summer of 2020 and those that have effective dates in January will receive their loyalty award checks shortly.
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 is again distributing 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.
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 more than 300 members, $40 million in contributions and more than $60 million surplus to maintain long-term financial stability.
With sponsorship and oversight by the Association of Towns of the State of New York and the New York State Conference of Mayors, the Comp Alliance's mission remains the same as it was 26 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.