Course Descriptions
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New York State Workers Compensation Self Insured Trusts Level 1
Four hours instruction, 4 continuing education credits earned.
Licenses eligible: property casualty agents, brokers, general consultants and public adjusters
The Level 1 course provides a detailed description of basic self insured trust concepts and the self insured trust industry:
- What a trust is- and what it’s not.
- The language, terms, and definitions of group self insurance.
- Comparing a trust to a standard market insurance company.
- Explaining "joint and several" liability.
- Trusts’ "Funding Status"
- How to financially compare one trust to another trust
The Level 1 course is an excellent introduction to the New York State workers’ compensation trust industry. No previous trust or workers’ compensation experience required.
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New York State Workers’ Compensation Self Insured Trusts Level 2
Four hours instruction, 4 continuing education credits earned.
Licenses eligible: property casualty agents, brokers, general consultants and public adjusters
The Level 2 course offers a brief review of the Level 1 course and then proceeds to advanced trust concepts:
- Analyzing a trust’s financial statements.
- How a trust’s "Funding Status" is determined.
- "Joint and several" liability and membership assessments.
- Trust termination procedures, voluntary vs. mandatory.
- Impact of 2007 Workers’ Compensation Reform Legislation.
The Level 2 course is intended to provide any insurance personnel who have regular involvement in the trust industry with more in depth knowledge of a trust’s operations. Completion of the Level 1 course is not required, but is recommended.
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The Workers’ Compensation Trust Industry 2008/09: What Happened, Why, and What’s Next
Four hours instruction, 4 continuing education credits earned.
Licenses eligible: property casualty agents, brokers, general consultants and public adjusters
This course will inform attendees of the tumultuous trust industry events of 2008 and provide a historical context to explain why the events occurred. We’ll then move from the past and present to an outlook of the future of the trust industry in New York:
- The background history of the trust industry from 1995 to 2008.
- Events of 2008- terminations, trust assessments, litigation and legislation.
- Terminated trust procedures, short term to long term.
- Reform of Workers’ Compensation Board Trust Regulations.
- Overview of the reorganized trust industry in 2009.
- The future of the trust industry in New York State.
The 2006-08 time period was the most disruptive in the industry’s history. This class is intended to inform anyone involved with a trust—from a Trustee, to a trust member, to agency personnel—of what they need to know about what happened. Although previous trust experience or class attendance is recommended, it is not required.
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