All of the following are requirements for operating as a Group Self-Insurer in New York, EXCEPT?

Group self-insurance in New York allows a collection of employers in the same industry to pool resources to cover workers' compensation liabilities. Each requirement is designed to ensure the group's financial stability and viability.

The requirement concerning the combined payroll of group members being at least $250,000 is not applicable as a standalone criterion for forming a group self-insurer. While financial thresholds such as payroll size contribute to a group’s overall fiscal strength, the specific focus on having a combined payroll of that exact amount is not a mandatory condition outlined by the regulations governing group self-insurers.

In contrast, the requirements that the group must consist of members within the same industry and that employers must apply to the Workers' Compensation Board are critical as they establish both the industry commonality and formal approval necessary for the operation of the group. Additionally, having a combined net worth of at least $1,000,000 helps ensure that the group can sufficiently cover potential liabilities, reinforcing the financial responsibility of its members.

These established criteria help to maintain the integrity and solvency of the group self-insurance arrangement, which is paramount in protecting the interests of employees.