NY State Fund Looks for Innovation Ideas

January 13, 2025

 

NYSIF Launches Insurance Innovation Program

  • The New York State Insurance Fund (NYSIF) has launched an Insurance Innovation program, designed to reimagine insurance solutions.
  • It is encouraging responses to is Request for Information by Jan. 27, 2025 from organizations and individuals to share insights, solutions, technologies, and strategies that align with NYSIF’s vision of leading continued innovation and excellence within the insurance industry.
  • Past innovations include the launch and expansion of the NYSIF Claim Mobile app, the small business support team, and the climate action premium credit program for hospitals.
  • Innovators interested in joining the program must submit their applications via email to contracts@nysif.com.
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Safety Council Issues Finding From MSD Survey

  • The National Safety Council (NSC) has released its 2023-2024 MSD Solutions Index, an annual survey developed by the MSD Solutions Lab. 
  • It shows notable progress in several key areas, including greater use of ergonomics programs, more organizations taking a proactive approach toward prevention, and increased collaboration across industries to share effective solutions.
  • This detailed assessment evaluates what and how organizations are doing to prevent musculoskeletal disorders (MSDs) by focusing on three essential areas: risk reduction, safety culture, and innovation and collaboration.
  • Based on a survey conducted from December 2023 to June 2024, it assessed 44 organizations’ efforts in three core areas: risk reduction, safety culture, and innovation.
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Alabama WC Fund Sues Reinsurer for Contribution Toward $50,000 Payout

  • The Alabama Self Insured Workers Compensation Fund sued General Reinsurance Corp. last month demanding its contribution toward $50,000 the fund paid to resolve a workers’ compensation claim, arguing that the reinsurer has attempted to conduct an after-the-fact audit which is not permitted under the reinsurance contract.
  • The Dec. 16 complaint in the U.S. District Court for the Middle District of Alabama claims General Reinsurance acted in bad faith by delaying payment of the reinsurance claim and making unreasonable demands for supporting documentation.
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