New York (State). State Insurance Fund

Current Functions: The State Insurance Fund operates as an insurance carrier for New York's employees and volunteer firemen. It provides public and private employers with workers' compensation and disability benefits coverage. The Fund is self-supporting from premiums and investment income.

Organizational History: The State Insurance Fund was established under the Workmen's Compensation Act of 1913 (Chapter 816) requiring employers to compensate employees disabled by industrial accidents or occupational diseases. Employers subject to the provisions of the Workmen's Compensation Act were required to establish a self-insurance program, to provide disability insurance through a commercial carrier, or to contribute to the State Insurance Fund. The Fund was administered by the Workmen's Compensation Commission also established by the 1913 Act.

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