Comp Alliance members with renewal dates in January should keep an eye out for their 2023 Loyalty Awards, as they continue to reap the benefits of intermunicipal cooperation on a grand scale. The Comp Alliance will be distributing more than $466,000 in member loyalty awards to 176 members in early February as it concludes its Loyalty Award disbursements for FY2023.
The Comp Alliance will distribute the initial checks to attendees of the upcoming NYCOM Winter Legislative Conference and the Association of Towns Annual Meeting and Training School. Municipal officials in attendance at either of those events should stop by the Comp Alliance booth for an early distribution of their award. Following those events, all other recipients will be contacted to arrange the delivery of their award.
The Loyalty Award Program symbolizes the tangible benefits and savings that result from municipal cooperation. These savings are generated by the hard work, dedication, and commitment to long-term safety by each of our members. In turn, through the leadership and oversight of its Board of Trustees, the Comp Alliance is financially positioned to keep rates stable and return these savings directly to its members.
For all our loyal June and July members, fret not. The Board of Trustees has authorized the continuation of the Loyalty Award Program through FY2024!
Individual award amounts are based on length of membership with the Comp Alliance and annual funding contributions. The Loyalty Award Program has generated more than $916,000 in awards this year, and nearly $3.5 million total has been returned to Comp Alliance members since the program began in 2019.
The mission of the Comp Alliance has always been to ensure our members are able to meet their long-term workers’ compensation liabilities while maintaining stable funding contributions, which has been made possible through the dedication of our trustees, and partnership with the Association of Towns of the State of New York and the New York State Conference of Mayors.
For more information on the Member Loyalty Award Program, please contact a Comp Alliance Marketing Manager or your insurance broker.