NY’s SIF, Farm Bureau Set 45% Policy Dividend

 

NY Farm Bureau, NYSIF to Return 45% Dividend for WC Policies

  • The New York Farm Bureau, together with the New York State Insurance Fund, will return a 45% dividend to its eligible Safety Group 486 members for their workers’ compensation policies.
  • That is a 5% increase over last year’s dividend. 
  • Eligible Safety Group 486 members are also due a 25% upfront discount on next year’s policy, comprising a 20% NYSIF discount and an additional 5% Farm Bureau discount.
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CompIQ, Bardavon Team to Automate Worker Rehab Referrals

  • Bardavon and CompIQ Solution have integrated their respective referral management and scheduling system, and claims portal to streamline the process of referring injured workers for specialized care.
  • According to a statement Monday, the API integration will automate referral intake, eliminating the need for manual data entry and reducing the time necessary to prepare a case for patient placement.
  • Bardavon is a nationwide network of PT/OT providers treating workplace injuries.
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Brokerage Consolidation Continues With Latest PCF Deal

  • Consolidation in the insurance brokerage business continues apace as Utah’s PCF Insurance Services said Tuesday today it has acquired the insurance business of Top Insurance Associates, based in Snohomish, Washington.
  • Top Insurance serves clients in Arizona, California, Colorado, Idaho, Oregon and Washington.
  • It will be integrated with PCF’s Fortiphi Insurance, according to a statement.
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Roots Automation Raises $22 Million to Tap Unstructured Insurance Data

  • A startup building a generative AI model for insurance, Roots Automation, said Tuesday that it raised $22.2 million in a Series B funding round that included a follow-on investment from Liberty Mutual Strategic Ventures.
  • Among its successes with 35 customers to date, the company said it has enable a 97% reduction in handling times for a US-based commercial P&C and workers’ compensation carrier.
  • The New York-based company draws unstructured data from everyday correspondence – including submissions, legal demands, and medical records – which it said makes up about 80% of all data across insurance.
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