The Empire State Restaurant & Tavern Association (ESRTA) Safety Group 554 and the New York State Insurance Fund are pleased to announce a 45 percent dividend for the policy year September 30, 2019 to September 30, 2020. This marks the 27th consecutive year that Safety Group 554 has paid a dividend to its members. This dividend of 45 percent represents $663,224 in premium dollars returned to members for the September 30, 2019 to September 30, 2020 policy term. With this payment, the 5-year dividend average is now 38%.
In addition, the maximum upfront policy discount available to Safety Group 554 members for the September 30, 2021 to September 30, 2022 is 25 percent. The policy discount is determined by the policyholder’s overall 5-year loss experience.
Dividend checks are scheduled to be mailed to members on Tuesday, June 8th. Checks will NOT be mailed to members currently in pending cancellation, those with estimated audits in the system, or those with seriously past-due premium accounts. (In the case of a significant past due premium, the dividend will be credited to the respective account balance.)
The dividend the Group pays is based on the overall experience of all Group members versus the insurance premiums collected. Safety Group 554 is proud to be one of the few programs consistently paying dividends to New York’s Schools. We would like to thank all of the current Safety Group 554 members that continue to place their trust in us.