How the Fund Works

How the Fund works

The Food Industry Self Insurance Fund of New Mexico (FISIF) is YOUR alternative to purchasing commercial workers’ compensation insurance.

FISIF is a not-for-profit association formed by Members of the New Mexico Restaurant and Grocers Associations, for the specific purpose of providing statutory workers’ compensation coverage to the employees of its Members.

Members pay insurance premiums to the Fund instead of to a commercial insurance carrier. Those premiums are then used to pay claims and necessary administrative expenses of the Fund.   Because FISIF is a not-for-profit entity, any surplus premiums (savings after claims and administration expenses) are eligible to be returned to FISIF Members in the form of lower rates, discounts and Surplus Funds Distribution as determined by the Board of Trustees.

This means your Association has formed a workers’ compensation insurance program owned by the policy holders. As a Member of this self-insurance program, your employees retain all benefits and rights provided by the New Mexico Workers’ Compensation Act and you can be self-insured while your team at FISIF handles everything – from filing claims to fraud investigation – for you.


To be eligible for participation in the Food Industry Self Insurance Fund, prospective businesses…