What is the Workplace Safety and Loss Prevention Incentive Program (Industrial Code Rule 60)?
Under the Workers’ Compensation Reform Law of 2007, Industrial Code Rule 60 is a discount program that encourages New York State employers to create programs that will decrease workplace injuries and reduce workers compensation costs. Additionally, employers may apply to the Department of Labor for a discount of up to 10% on their workers compensation premium if they establish one or more of the following programs:
Which employers may apply?
The program is for employers insured through the State Insurance Fund (except those in a recognized safety group) or any other insurer that issues policies for workers compensation in the state of New York.
What is required of each program for it to be approved?
The extensive requirements for each program are detailed in the regulations, but they are flexible so that employers can establish programs tailored to their needs. A Department of Labor certified Specialist can help employers develop each program.
How do employers apply?
Earning the Industrial Code Rule 60 credits can be difficult without the right guidance. Gold Standard Risk Management will work with you to efficiently establish all three loss prevention programs as well as to navigate the evaluation. endorsement, and application processes to earn DOL approval.
Only once the Department of Labor approves your 10% savings will our fee be due.