NYS Safety Group 491 Dividend Announcement for 2021-22 Policy Year
NYS School Safety Group 491 and the New York State Insurance Fund are pleased to announce a 20 percent dividend for the policy year July 1, 2021 to July 1, 2022. This marks the 49th year that Safety Group 491 has paid a dividend to its members. This dividend of 20 percent represents $613,556 in premium dollars returned to members for the July 1, 2021 to July 1, 2022 policy term. With this payment, the 5-year dividend average is now 20.5%. This also marks a total of nearly $104 Million in dividends returned to members since the Group’s inception in 1972.
In addition, the maximum upfront policy discount available to Safety Group 491 members for the July 1, 2023 to July 1, 2024 will remain 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, February 21st. 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 491 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 491 members that continue to place their trust in us.