Bill > S04731

This bill establishes the New York Small Contractor Safety Group, Inc., a pilot program designed to help small contractors obtain liability insurance. The program creates a not-for-profit corporation that will purchase group liability insurance for small contractors who have difficulty securing coverage individually. A nine-member board of directors, appointed by various state government leaders, will manage the safety group. To be eligible, small contractors must be New York residents, independently owned, and either be a certified minority/women-owned business or have less than $1 million in annual revenue with documented insurance coverage rejections. Members will be required to participate in work safety training programs and pay membership fees, with the state providing an initial capital contribution of up to $25 million. The State Insurance Fund will issue the liability insurance policies, and a separate safety group fund will be created to manage these policies. The pilot program will run for five years, after which the legislature will evaluate its effectiveness and determine whether to continue, modify, or terminate the program. The safety group will be exempt from most state taxes and will be subject to financial oversight by state agencies, with the goal of providing affordable liability insurance to small contractors while promoting workplace safety.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S4731