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40% Dividend paid Worker’s comp. Safety group
The Friedlander Group, the Group Manager for United
Restaurants of New York Workers’ Compensation Safety Group #556,
underwritten by the NYS Insurance Fund, paid a 40% dividend to
approximately 775 members with policies effective during the year of
September 30, 2004, to September 30, 2005. This is in addition to the
Advance Premium Discount of up to 25%. A member with a standard
premium of $10,000 paid only $4,500 in premium, after discounts and
dividends.
“Members appreciate the 40% dividend and being rewarded
for their safety”, said Adam Friedlander. “With an average dividend of 39%
since 1993, the restaurateurs consistently enjoy the savings, said
Friedlander”.
The Friedlander Group, Inc, manages three other
Workers’ Compensation Safety Groups. The Retail Group of NY #544 paid a
dividend of 35%, and the Wholesale Group of NY #551 recently paid a 35%
dividend, in addition to up to 25% Advance Discounts. The Hotel & Motel
Group of New York was recently formed on June 1, 2006. Since the inception
of the three groups, a total of $64 Million in dividends
have been
paid to members, in addition to the advance
discounts.
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Workers’ Comp. Rate Increased 26.3% effective October, 2005
The Workers’ Compensation rate for restaurants in New
York increased 26.3% last October. That will be reflected in members’
renewals effective September 30, 2006. Rates are still 30% lower than
they were in 1994, including the recent rate increase.
On July 17, the Superintendent of Insurance announced
his decision to
deny the New York Compensation Insurance Rating
Board’s request for a 7.5% average rate increase to become
effective October 1, 2006. The Superintendent
disapproved the rate filing in its entirety.
The exact same rates that were promulgated October 1,
2005 will remain in effect on and after October 1, 2006. The assessment
charge, not part of the rate filing, will increase from 17.5% to 18.6%
effective October 1, 2006.
The United Restaurants’ Credit Card Acceptance program
The United Restaurants of New York’s mission is to
improve the bottom line of
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