Big I NY President & CEO, Lisa Lounsbury spoke to Eric Madoff, CEO & Executive Director at New York State Insurance Fund, this morning regarding NYSIF’s approach to work with policyholders regarding the coronavirus. We are very pleased to share the following correspondence that will go out to NYSIF policyholders later today. In addition to offering premium payment flexibility, NYSIF recognizes that payrolls may decrease and is willing to adjust premium payments to meet policyholder needs.
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 contact your Policy Representative, please visit our website at nysif.com, click “Get Policy Help” and have your policy number handy.
For those policyholders who do not have a 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. To create a NYSIF online account, please visit our website at nysif.com.
There are a number of organizations offering coronavirus-related financial assistance. Below are two you may find helpful.
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.