New York State Pharmacists Society and Retail Council Announce Partnership on Workers' Comp Insurance

ALBANY, NY (12/19/2007)(readMedia)-- Members of the Pharmacists Society of the State of New York (PSSNY) can save up to 60 percent on their workers’ compensation insurance thanks to a partnership with the Retail Council of New York State. PSSNY members can call the Retail Council immediately at (800) 442-3589 for a free, no-obligation quote on workers’ compensation insurance.

More than 170 pharmacies in the state already take advantage of the Retail Council’s Safety Group underwritten by the New York State Insurance Fund.

“The Retail Council’s Safety Group 493 offers our members the best workers’ compensation insurance rates for our industry in New York state,” said Craig M. Burridge, executive director of PSSNY. “We are always looking for new ways to help our members keep their operating costs down and this program makes it easy for us to do that.”

The Retail Council is able to significantly cut pharmacists’ workers’ compensation insurance costs thanks to a combination of dividends and an upfront policy discount. Although dividends aren’t guaranteed, more than $82 million has been returned to Retail Council members in the form of workers’ compensation dividends since 1978; a dividend of 40 percent, representing a return of more than $5 million, was returned to Group members in November 2007. The dividend is in addition to an upfront policy discount of up to 20 percent.

“The rising cost of insurance is a huge expense and a constant worry for pharmacists and other retailers,” said Retail Council President and Chief Executive Officer James R. Sherin. “Our workers’ compensation group is one of our top member programs because we continue to demonstrate that we can lower workers’ compensation insurance costs for retailers who maintain safe workplaces. The dividend is one way we accomplish this.”

For additional information on this new PSSNY benefit call the Retail Council at (800) 442-3589 or view the Council’s Web site at www.retailcouncilnys.com.

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