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Lovell Safety is pleased to announce that a 10% dividend has been declared for all qualified members of NYS Asbestos Abatement Safety Group #592 for the group’s initial policy year.
The group also established additional reserves to address future claim development and support potential future dividends. Qualified members are eligible for renewal discounts of up to 20%.
These results come as the 2026 workers’ compensation rate for asbestos abatement classification code 5473 decreased by more than 25%. The combination of lower rates, substantial upfront discounts and the potential for future dividends creates a highly competitive workers’ compensation opportunity for qualified New York asbestos abatement contractors.
Safety Group #592 also provides members with Lovell Safety’s specialized underwriting expertise, proactive claims management and industry-focused safety services.
We encourage our broker partners to submit their qualified asbestos abatement accounts for consideration. Please send submissions to your Lovell Safety representative for review and pricing.
We appreciate your continued partnership and look forward to helping you provide your clients with the competitive advantages of Safety Group #592.
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