The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York Workers' Compensation Law. The Fund's mission is to guarantee the availability of workers' compensation insurance at the lowest possible cost to employers, while maintaining a solvent fund, as well as to provide timely and appropriate indemnity and medical payments to injured workers. NYSIF is a self-supporting insurance carrier that competes with private insurers in both the workers' compensation and disability benefits markets in New York State.

Hires for a majority of positions are made according to merit as determined through competitive examinations administered by the New York State Department of Civil Service. Civil Service exams are held on a continuous basis for NYSIF positions including accountants and auditors, actuaries, information technology specialists, medical care representatives (registered nurses) and vocational rehabilitation specialists.