Not quite.
A written anti-horseplay policy helps, but on its own it usually does not decide coverage. For an employee hurt while joining in horseplay, New York looks at whether that kind of play had become an accepted, ongoing part of the workplace.
In fact, if pranks are tolerated or managers join in, a handbook rule can work against the employer by showing the very “continuity of practice” the courts look for. Consistent enforcement is what gives a policy weight.
Bystanders hurt by horseplay they did not take part in are generally covered. For participants, an isolated prank that came out of nowhere may fall outside the employment, while a long-tolerated practice usually does not.
For the full breakdown of how New York handles these claims, read the article: The Horseplay Rule Demystified