Unlike some insurance carriers, the NYSIF does not accept an Acord request a valid request to cancel a policy.  To cancel a NYSIF Workers’ Compensation Policy, a policyholder must submit a letter on their company letterhead requesting cancellation of their policy.  The letter must state the reason for cancellation and it must be signed by an owner of the business.
Please note NYSIF requires 30 days notice to cancel your policy to insure elsewhere.  Policies cancelled for other reasons such as out of business or no longer required by law are generally cancelled 20 days after the letter is received by the NYSIF.
Please note if you cancel on a date other than your renewal date you may be subject to a short rate penalty.