How to Keep from Hiring a Serial Workers’ Comp Filer

As employers have found in the last few years, hiring has become more difficult as the labor market has tightened amid a strong economy.

With slim pickings, many firms are having to settle for workers they may not normally hire – but that can lead to issues.

Some employers even have a hard time finding candidates that don’t have substance abuse issues, while some people are serial workers’ comp filers, malingerers or have prior industrial injuries that can end up affecting your bottom line and X-Mod.

Here are some suggestions for helping you avoid someone who is likely to either suffer a workplace injury or file a fake workers’ comp claim:

Dig deeper in references

The difficult part is making sure employee selection meets your expectations. This may not be easy, particularly for smaller businesses, since vetting applicants is often limited to calling references they provide and perhaps a drug test.

Yet, even the basic step of contacting references can be made more effective by asking them if they know others who may have knowledge of the applicant. By extending the reach, it’s quite possible to obtain additional information that can be helpful in evaluating prospective employees.

The integrity test

This is one of the more effective tools for identifying job applicants who may be likely to file workers’ comp claims.

Employers often don’t use integrity tests in the belief that they are too expensive. But, a study by Cornell hospitality professors Michael Sturman and David Sherwyn of 27,000 employees of a national hotel chain highlighted the value of using such a test.

Using a test developed by American Tescor, the hotel hired 6,100 of 29,000 applicants. They then used the data from the test and compared the workers’ comp claims of the new hires to those of existing employees who did not take the test. The researchers concluded that the cost savings of screening the workers was considerable.

Based on the number being tested, the cost of testing appears to be $8 to $14 per applicant. The study also indicated that there was a notable reduction in workers’ comp claims among the new hires, which suggests that an integrity test can be a valuable tool for screening job applicants. Because of the nature of the test, it can be administered before a job offer.

Avoid ‘medical baggage’

You should try to give every applicant who has been given a job offer a pre-employment physical before being approved for hire. If someone has been out of the job market for some time, they are often out of condition for some jobs.

Having been sedentary for a long time can lead to back and neck pain and repetitive motion injuries. Also, job applicants can be carrying “medical baggage” that may not be found on a job application but may be revealed with a thorough physical examination.

Background checks

You should consider a thorough background check by a private investigation firm, particularly for employees who will be driving their own or company vehicles. If they have a record of past traffic violations and DUIs, this can spell trouble.

A background check can also reveal if a candidate has misrepresented their workers’ compensation history or medical condition. This can uncover a history of false claims or demonstrate that the applicant is a safety risk based on medical opinion.

Drug testing

This is not just a matter of identifying illegal drug use, as a test may indicate that an applicant is taking one or more prescriptions for a previous job-related injury. That’s information that would never be known on a job application.

The goal is to obtain as much accurate information as possible regarding an applicant, so the picture is complete and reliable. While it takes more time and means additional costs, the expense pales against that of hiring someone with a propensity for filing a workers’ comp claim, or who is more apt to suffer a workplace injury.

Employers need to comply with state and federal laws when undertaking drug screenings.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.    

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.        

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Documenting Small Safety Incidents Key to Preventing Major Ones

Studies show that for every major workplace injury or fatality, there are nearly 10 minor injuries – and more than 30 accidents that lead to property damage.

Capturing data even on minor incidents that may seem trivial in isolation can be critical in informing efforts to prevent much greater dangers in the future. A big part of that effort involves ensuring businesses maintain a complete set of data.

Managers at all levels should focus on solid and thorough documentation. Here is where management’s main effort should be concentrated:

Don’t ignore minor incidents. Document all of them. Even if you have avoided injuries and severe property damage so far, keeping careful records may provide critical risk management insights – and enable managers to take action to prevent accidents before they occur.

Identify patterns. Do minor incidents seem to happen in the same area? Involve the same or similar machinery? Are they in the same department or under the same manager? Careful record-keeping is a valuable tool for identifying patterns.

Discourage presenteeism. Workers who come to work sick may be taking medications that increase the risk of incidents. Workers are not robots: Sick or distracted workers may make serious or deadly mistakes. To prevent this, have a sustainable sick day policy and encourage workers to take time off when needed – especially in dangerous occupations.

Encourage reporting. Studies have shown that the vast majority of minor incidents are not properly reported or recorded.

One study found that 85% of workers told researchers they had experienced work-related symptoms, 50% had experienced persistent work-related medical symptoms and 30% reported they had lost time from an incident or from a repetitive motion injury – yet only 5% of workers told researchers they had formally reported any of these incidents.

When asked why they didn’t report safety incidents, workers cited a number of reasons:

  • Fear of reprisal
  • Poor management response to prior reports
  • Fear of losing their job or being transferred to a less desirable position
  • Belief that pain or another medical symptom was a normal consequence of work activity or ageing.

Maintain OSHA-required injury logs. By federal law, most employers must maintain the following safety documents:

  • OSHA Form 300 –  Log of Work-Related Injuries and Illnesses
  • OSHA Form 300A – Summary of Work-Related Injuries and Illnesses
  • OSHA Form 301 – Injury and Illness Incident Report

Employers with 10 or fewer employees at all times during the preceding calendar year are exempt from the federal requirement, though many states may impose more stringent requirements.

Record near misses. Often, near misses – in which property damage, injury or fatality were narrowly avoided – can provide data that’s just as valuable as for incidents resulting in actual damages or injuries. This information can prove vital to informing prevention efforts.

Perhaps most importantly, carefully documenting all safety incidents and near misses, however minor, may help establish a culture of safety throughout the organization.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

How Does a Workers’ Comp Waiver of Subrogation Affect Your Business?

It is very common for the insurance requirements in a construction contract to include a provision requiring the subcontractor to waive all rights against the owner and general contractor for recovery of damages to the extent these damages are covered by the sub’s workers’ compensation and general liability or commercial umbrella liability insurance. Owners and general contractors insist on this provision because they want to protect themselves from being held liable for injuries to a subcontractor’s employee. Typically, the contractor giving the waiver asks its insurance company to attach a “waiver of subrogation endorsement” to its workers’ compensation policy.

The endorsement states that the insurance will company will not enforce its right to recover payments it makes to an injured worker from the person or organization listed on the endorsement. It applies only to the extent that the employer insured by the policy performs work under a written contract requiring the employer to obtain the insurance company’s waiver. It does not directly or indirectly benefit anyone not listed on the endorsement. With this endorsement on the policy, the company cannot attempt to recover payments it made to an injured worker from the company listed on the endorsement, even if that company was responsible for the injury. Consequently, the loss impacts the employer’s experience modification, probably increasing future premiums. In addition, the endorsement carries an additional premium for the employer, normally some percentage of the premium attributable to the job.

The endorsement and the waiver agreement in the contract do not bind the injured employee. He still has the ability to sue the owner and general contractor for his injuries. However, it is also common for construction contracts to require the subcontractor to defend and indemnify the owner and general contractor from any such suits. Therefore, it is probable that the employer will have to pay an additional premium for the endorsement, pay higher future workers’ compensation premiums for the loss, and pay higher future liability insurance premiums because its policy will cover the other parties’ liability.

For example, assume the sub’s employee suffers serious injuries when tools and materials fall off a scaffold and strike him. He collects workers’ compensation benefits for his medical costs and lost wages. The sub’s workers’ compensation policy includes the waiver of subrogation endorsement, so the insurance company cannot recover any of its payments. The worker sues the owner and general contractor for his pain and suffering. However, the contract requires the sub to cover the owner’s and general’s liability, so the sub’s liability insurance pays for the pain and suffering lawsuit. The sub’s insurance pays twice for the same injury to the same worker.

Owners and general contractors require waivers of subrogation for several reasons. Insurance consultants, brokers, and risk managers usually encourage them to require waivers. Waivers protect their liability insurance and reserve it for other claims. Because a waiver reduces potential liability losses, they become more attractive to liability insurance companies and probably pay lower premiums. Also, subcontractors often do not resist these requirements because they feel they lack negotiating leverage and their insurance companies are usually willing to provide the endorsement.

A few states have curbed the use of waivers of subrogation in their workers’ compensation systems. At least four states have passed laws making the requirements unenforceable, and other states allow the employer to recover from the injured employee some of the proceeds of pain and suffering lawsuits.

In the majority of states that allow waivers, contractors should work with professional insurance agents experienced in providing construction insurance. They can suggest insurance companies that will offer the needed coverages at a reasonable cost and assist with contractual issues such as waivers of subrogation. Above all, contractors must read and understand their contracts so that their agreements do not become an ugly surprise after a loss.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Are your Workers Employees or Independent Contractors?

The United States Department of Labor and the Internal Revenue Service have combined their efforts to help various states share resources and information that will expose worker classification violations. Employers found to be in violation could face paying back taxes, back pay to workers, missed overtime, retroactive benefits, interest, fines, staff effort charges and legal fees. With situations where there are multiple violations or willful negative intent, the penalties and fines are worse. In addition to the money a violation would cost, employers would also face the negative effects of this damaging information being made available to the public.

The IRS has made it clear that it is not easy to classify independent contractors and employees. Every case they evaluate is different based on a wide variety of factors. To start, employers may think about whether they have control over a worker’s performance and work outcomes. This is not based on whether an employer decides to exercise control. It is a matter of whether the employer actually has the legal ability to control the workers in these areas. The IRS has a set of rules called the Common Law Rules, which cover the categories of financial control, behavioral control and relationship classifications. None of these factors are individually decisive. The entire situation must be evaluated to make an accurate determination. In addition to these evaluations, employers may take the Economic Reality test from the Department of Labor. This test is based on the Fair Labor Standards Act and includes six factors that are similar to those used by the IRS.

One of the best ways to show that a worker is not an employee but an independent contractor is to show proof of that individual’s ownership of a business. In addition to this, employers can show proof that the worker’s tasks are not an integral part of the employer’s business. Workers who are free to be hired by others or who perform freelance work are not considered employees. For every independent contractor used, businesses should keep vendor folders on file. The following paragraphs outline what information should be included in each file.

W-9 Form
Every independent contractor should complete a W-9. This is necessary for creating a 1099 tax document. If the individual does not claim exemption, employers should withhold taxes. For current tax withholding percentage information, discuss the topic with an agent. However, independent contractors should be encouraged to check the box and file their own self-employment taxes.

Invoices
Keep every invoice the contractor submits. Payment should be made based on these documents. If a worker is not an employee, he or she should not submit expense reports. Since mileage and equipment are a contractor’s business expenses, contractors should not bill for these items. Make sure all invoices match 1099 forms, which must be sent to the independent contractor after the end of the year.

Proof Of Separate Business
If an independent contractor has his or her own business, keep any items that reflect proof of this. Business stationery, advertisements, brochures, business cards or any similar items are acceptable. For contractors who have their own sites on the Internet, it is important to print copies of any online pages where services are outlined.

Written Contracts
It is important to have a written contract for every independent worker. This document should clearly state the nature of the relationship between the business and the worker. In addition to this, the project’s details should be outlined. A contract should include what the business expects from the contractor, the payment terms and any deadlines. Make sure the document is dated and signed by both parties. If a contractor has a tax identification number, this should be included. New contracts should be created for each project when the same contractor is hired for multiple projects.

Before classifying a worker as an independent contractor, it is important for a business owner to do his or her homework carefully. Employment laws today are very strict, so discuss any concerns with Gary Wallach by calling 914-806-5853.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.      

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Why Having Your Worker’s Compensation Insurance Directly With an Insurance Company Can Be Hazardous To Your Wealth!

We would like to start by asking if you had a tax problem, the IRS was claiming you owe $275,000, without help, would you talk to them or hire a tax specialist?  What if you needed brain surgery?  Are you going to use an internist or a brain specialist?  Lastly, divorce.  Going to use a local generalist attorney who handles 1 divorce a year or a specialist who handles 100?

Get my point!  Cutting corners by using inexperienced people may appear saving you money but in the end costs hundreds, thousands, tens of thousands more!

Like taxes, medicine and legal issues, Workers Compensation has a manual that’s 500+ pages thick.  It’s packed with rules.  If you have not read the manual and know the ins and outs, companies whose personnel operate in factory like mode probably don’t know them and if they do probably will not explain them to you!

That is why you want to bring us into the picture!  BGES Group, a New York’s Workers’ Comp Specialist, offers EXPERT advice to New York, New Jersey and Connecticut business owners.  Companies we are GREAT at HELPING are:  Construction, Limousine, Manufacturing, Wholesale, Distributor, Office, Real Estate, anyone that owns a business in the tri-state area!

Audits – This is where so many employers get hurt!  Paying thousands, tens of thousands more than you should be!  Many insurance companies use outside firms to do their audits.  They do such volume it’s our opinion 30%+ have mistakes, especially if you are a contractor!  Every month we go back and forth with companies straightening out auditor mistakes and over charges.  We’ve encountered mistakes of up to $120,000+.  Do you think your company is going to scour your audits for mistakes?  Do you think they even know what to look for?  If you have to get your accountant involved what are they going to charge you?  In our opinion so many businesses are overpaying, they have no clue though.  Guess what, this no longer has to be the case!  BGES Group reviews client audits.  We find the mistakes, get on the phone and get our client’s audits corrected so they pay no more than they have to.  Are you a contractor?  Then you need us on your side!  Every month we find mistakes in contractor audits!   Would you like to avoid an annual audit?  We may be able to help you do that!

Has anyone told you about this financially crippling issue?  You are a contractor.  Your home office is in state A.  You get a job in State B.  Job will take three (3) months.  Two months into job your employee falls from a ladder and breaks his back.  This employee happens to live in State B so his family takes him to their local hospital.  Do you have coverage under your policy or not?  In our opinion at least 50%+ DO NOT!  Do you know why?  Do you know what kind of financial nightmare you are looking at?  Do you know how many years you could be dealing with this financial nightmare?  Do you think your employee will get legal representation?  Can you afford fighting them for 5, 10, 15+ years?

Limousine Companies.  This is a very tough class of business to insure.  We know of just a few companies offering coverage.  At least one has no financial rating.  Most are insured with one organization.  But there’s a second company we feel offers better protection.  We also feel they offer great audit, billing, customer service and rates!  Limo companies drive in many states.  It is critical to be with a company that can provide THE RIGHT protection in multiple states!   We represent this excellent company and we are guessing you are not with them.  Call 914-806-5853 we will get you a quote.

Experience Modification Factor – Do you know what an Experience Modification Factor (EMR) is?  It is an adjustment of an employer’s premium for worker’s compensation coverage based on the losses the insurer has experienced from that employer. An experience modifier of 1 would be applied for an employer that had demonstrated the actuarially expected performance. Poorer loss experience leads to a modifier greater than 1, and better experience to a modifier less than 1.  Let me ask you, do you think a factory like mode insurance company is going to check your EMR?  Do you think the front line customer service personnel even know where to start?  Do you know what an EMR of 1.40 does to your cost?   How it prevents you from getting new business?  Do you know how to lower it?  That is another reason to turn to BGES Group for your coverage needs.

There is a Workers’ Comp manual that is 500+ pages thick.  It discusses payroll classifications, credits, EMRs, definition of payroll, the list goes on and on.  How would you like to work with one person who knows the rules and can help you save money?  Unlike accountants or other professionals we do not charge for our service!   Do you think using rules to your advantage can save you hundreds, thousands, tens of thousands of dollars?  We know they can!

We are here to help!  We want to help!  Call Gary at 914-806-5853 and you get to speak to a New York expert who is knowledgeable, helpful, professional and who knows how to talk and treat people!

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Here are Some Unwritten Truths About Liability and Workers Compensation Policies and The Insurance Industry

1. Your liability and workers compensation auditors work for your insurance company, not you!  There’s a lot they aren’t telling you which can cost thousands, tens of thousands of dollars.

2. Is your liability policy preventing you from getting jobs?  Lots of contractors are unaware of how bad their liability policy’s are.  There are brokers selling these policies and in our opinion they are doing an incredible disservice to the construction industry.  How many of you work with general contractors, owners?  Are they asking you to sign contracts?  Do you know if your policy covers what they require in their contract?  Let’s face it most insurance companies do not want to pay claims and their policies are designed to do just that.  Is your policy one of the real lousy ones?

3. Quite a few New York contractors have liability policies that are inexpensive but their insurance company has a very low financial rating, Labor Law exclusions, no contractual liability, the company is Black Listed.  Then there is the other extreme, liability policy’s that have exclusions acceptable to customers but are outrageously expensive.   How would you like a liability policy that has limited exclusions and good pricing?  With 50 companies we think we can find you one.

4. It is our opinion there are workers compensation companies that insure a lot of contractors and they do everything possible to charge you as much as they can.   Instead of doing what is in the customer’s best interest they do what is in their best interest. We have better options for you.

5. Why should a customer dislike the company they’re with?  Why when they need help they get tortured?  When they call they don’t get a return call?  When they have a problem no one seems to want to help?   It shouldn’t be this way right?

6. You really are not going to like hearing this!  Most agency people are limited in what they know (they are so poorly trained it’s a disgrace).  They do not know the ins and outs of the liability or the worker’s compensation system.  They do not know about special credits, rating structures, experience modification factors, payroll rules, how to properly classify payrolls, etc.  And this goes for all areas of coverage: Liability, Umbrella Liability, Business Auto, Bonds, Group Health, etc.

7. Most insurance agency customer service people are paper pushers.  They have so much work they do not have time to properly check your liability and worker’s compensation policies.  Yes they are pleasant but they miss a lot of what it takes to properly service your account.

8. BEWARE!!!  If you have your workers compensation through a state or assigned risk program and you operate in other states you are exposed to a HUGE financial liability which may NOT be covered!   Most of you are not aware of this liability but one claim and you can be knocked out of business!   If you are in a state or assigned risk program and operate outside your state we STRONGLY RECOMMEND you look into this matter.

How We Can Help You

1. For contractors we have 50 liability insurance and 12 workers compensation companies to choose from.  More options mean better pricing and coverage!

2.  Regarding General Liability and Umbrella Liability we have companies that have less restrictive exclusions than others.   It is so critical you deal with an insurance broker who is a specialist, who understands the exclusions rather than a generalist.  Believe us most agencies even though they know more than you they still do not know what they’re doing.  We do not like to knock others but a lot of brokers and customer service personnel do not know what they are doing.

3. How would you like to get away from annual workers compensation audits?  Would you like to set up your policy from the start so you don’t overpay?   How about not owing large additional amounts at the end of your policy period?

4. Two of our companies allow you to take back control of payroll reporting.  So many contractors, on audit, are overpaying thousands, tens of thousands of dollars because their company is keeping important information from them.   From the beginning, we eliminate this problem.

5. Having cash flow problems?  One new customer whose premium was $49,100 only needed $427 to bind coverage.  His incumbent company was requiring a renewal deposit in excess of $8,000.

6. We DO NOT charge 10% service fees or separate $500 to $2,500 policy fees.  How agencies come up with these fees is baffling.  Actually it’s not.  It’s called greed.  We are that “Diamond in the Rough!”  We don’t do this to our customers (unless we have to insure you through NYS program…they do not pay us a commission.)

7. We have been in the insurance business since 1981.  We offer boutique service. We are specialists, experts and you personally will be dealing with the president who has 38 years experience.

Coverages We Offer – We Have 50 Insurance Companies To Choose From

Worker’s Compensation

Commercial General Liability

Commercial Umbrella Liability

Professional Liability

Bid & Performance Bonds

Business Auto Policy

NYS Disability

Property, Inland Marine

Examples of Savings

Long Island Plumber was going to pay $57,000.  We reduced his premium to $49,100, deposit was $427.  That was a $7,000+ savings!

Bronx Carpenter was paying $22,000.  We reduced his premium to $15,700.  That was a savings of $6,300!

Hudson Valley Roofing contractor was paying $57,000.  We reduced his premium to $44,500.  That was $12,500 savings!

Manhattan GC was going to pay $154,000.  We reduced his premium to $136,000.  That was a $18,000 savings!

Westchester Carpenter, Painter, Tile Contractor was going to pay $39,000.  We reduced his premium to $33,700.  That was a $5,300 savings!

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

How Workers’ Comp Experience Rating can Save you Money

How does safety pay dividends to the business owner? Time and resources spent on developing a culture of safety repays the business in the long run. Safety cultures rely on reducing the number of workers compensation claims, in return, the odds of a disastrous claim are reduced.

Business owners with workers’ compensation experience modifications above 1.25 need to review their safety policies with professionals. It is possible one year or even one claim causes this situation; but it should not be ignored. Discover and repair the root cause.

A 1.01 to 1.25 modification indicates worse than average experience. State rates can be less than adequate for a short period of time. The actuarial or mathematical calculations just incorrectly reflect the average expected claims. Slightly elevated modifications may be caused by these issues; however, review your losses by department in these cases and see if a problem area exists.

For slightly elevated modifications, review the safety program and types of losses. Seek out a professional risk manager for help if needed. Look for patterns in the losses, and consider changes in safety equipment or procedures to reduce problem issues.

Proactively nurturing a safety culture will pay long-term dividends. Experience modifications will decrease with positive results. How?

Each state calculates workers’ compensation experience modifications independently. Many states do utilize the services of the National Council on Compensation Insurance (NCCI) to gather data and promulgate base rates and experience modifications; but each state regulates its own workers’ compensation system.

Workers’ compensation experience rating predicts future behavior by analyzing past performance. It is a consequence of loss control performance, neither a reward for no losses nor a punishment for too many claims.

The generic formula for experience modifications follows some rules:

Just as payrolls are the basis for the standard premium, they form the basis for expected claims. Payroll is multiplied by an average claim factor to produce total expected claims.A discount factor is then applied to predict the potential severity of the claims.The product of this equation is expected losses.Actual medical only (MO) claims combine and report as a number of claims/total amount. Some states designate the MO claims as primary (maximum average) and excess, and then apply a discount rate to one or both of these amounts.Most states set a limit on the value of any one claim, and then discount large claims on a sliding scale.This historical claim experience is divided by expected losses. That quotient is the experience modification.

The insurance industry spends millions of dollars to find ways to predict the future. Loss analysts discovered one important fact: the best predictor of future claims is the frequency with which companies suffer losses in the past.

Frequency reflects the number of claims per employee, usually expressed as claims per payroll unit ($100), claims per year, or claims per time unit. Frequency, however, more importantly, reflects the safety culture of the business.

If the frequency of claims is predictable, how about the severity of an individual loss? No, severity, the magnitude of the loss, is not predictable. With greater frequency, however, comes greater odds that a severe claim will occur.

Experience modifications indicate the status of the safety culture within a business. Good management listens to risk management and loss control experts who ultimately reduce workers’ compensation costs.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                  

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Why Every Contractor Should Require Workers Comp Insurance

Two construction workers died on the job every day in 2013, according to the U.S. Occupational Safety and Health Administration. One out of every 25 construction workers got hurt on the job that year. Workers in this industry need the protection of Workers’ Compensation benefits more than most.

Most states require employers to carry Workers’ Compensation insurance, but not in all cases. Many states exempt one-person operations from the requirement, for example. Regardless, it is a good practice for project owners and general contractors who hire subcontractors to require the subs to carry this insurance, whether the law requires it or not.

A typical construction project involves three types of entities: The owner who is paying to have the project done; a general contractor or independent contractor whom the owner hires to do the work; and subcontractors whom the GC hires to do portions of the work. The relationships between these entities and their employees differ.

While most states require employers to provide Workers’ Compensation benefits to employees, their laws also define who exactly is an employee. If someone is working on my property, but the law does not consider that person to be my employee, then I do not owe that person Workers’ Compensation benefits. States use several criteria to determine whether two parties are in an employer-employee relationship. These are similar to the criteria the Internal Revenue Service uses, such as control over when and how work is performed.

Typically, state regulators do not find a construction worker to be an employee of a project owner. The same cannot be said about independent contractors and employees of subs, however. Some sole proprietor subcontractors who suffer worksite injuries claim Workers’ Compensation benefits under the policies of the contractors who hired them. Often, state Workers’ Compensation law judges rule that these individuals were acting as employees of the hiring contractors, not independent contractors.

In addition, many state laws require an independent contractor who hires a sub to provide Workers’ Compensation benefits to the sub’s employees if the sub fails to obtain insurance. The injured subs or their employees end up collecting benefits even though that was never the intention of the hiring contractors. Consequently, insurance companies can and do charge independent contractors additional premiums when they find that uninsured subs have worked for them.

In a worse case scenario, both the independent contractor and the sub may fail to buy Workers’ Compensation insurance. Leaving aside the legal problems that will result for the employers, this leaves injured workers without sources of the benefits to which they are entitled. Their logical recourse is to sue the project owner. They may seek damages for an alleged failure to maintain a safe worksite or for negligence in the hiring and supervision of contractors. Since the project owners are not the employers of these injured workers, their own Workers’ Compensation policies will not help. Rather, they will have to seek legal defense and the payment of any awards from their liability insurance companies.

For these reasons, project owners should insist and verify that all contractors working on the job, including subs, carry their own Workers’ Compensation insurance. Independent contractors should do likewise with the subs they hire. Project owners may want to supplement their protection by making the independent contractors responsible for verifying that the subs have insurance, and by requiring the independents to hold the owners harmless from any lawsuits resulting from workplace injuries.

Construction is dangerous work. Every contractor setting foot on a job site should carry its own Workers’ Compensation coverage, whether the law requires it to or not.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.          

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

What Is a Workers Compensation Rating and Why Does It Matter?

Most business owners and executives understand the value of workers compensation insurance not just to protect the worker, but to protect the company as well. Fewer, however, are aware of the mechanics of how premiums are arrived at, and how their own company’s safety track record figures into their rating.  Understanding the process, however, may well enable you to qualify for lower premiums down the road, saving your business money and making you more competitive.

Industry underwriters set workers compensation premiums using a process similar to how most companies price group health insurance: They look at the actual claims experience for similar workers in your area, and if there is a history of claims, at your company specifically. Where there is insufficient local claims experience to look at, underwriters turn to the National Council on Compensation Insurance, a clearing house of workers injury and compensation data.

Generally, underwriters will take your payroll and multiply it by an average claim factor for that type of worker. This produces a baseline average of the total number of expected claims, which they subdivide as claims per $100,000 of payroll, claims per year, or claims per time unit. The frequency of claims is considered to be a close proxy for the safety culture of the individual business. They then account for the average severity of claims for that type of worker in your industry and combine the two to arrive at a baseline prediction for expected losses.

Underwriters must then try to assess your business and answer the following question: Given the policies and procedures in place at your business and your claims history, is your company likely to produce losses that are higher than the industry baseline or lower?

Over time, underwriters have discovered that the most likely future claims predictor is a past history of claims at your company. Therefore, to save money on workers compensation premiums, it behooves the company to invest aggressively in preserving the safety of the work environment, both in terms of resources and management focus.

Your workers compensation agent and underwriting team will assign your company an insurance rating, with 1 deemed equal to the average claims experience in your industry for the area.

Any rating higher than 1 indicates a worse-than-average risk for workers compensation claims. If your rating comes out higher than 1, you may be able to qualify for lower rates in future years by reviewing your safety program and the types of losses your company has incurred. Identify any patterns and refcurring themes. You may benefit from bringing in a risk management consultant for an outside set of eyeballs. Some investment in equipment or improved training may be needed, or you may need to be more vigilant for workers compensation fraud in a few cases.

Best Practices

In the long run, your safety record is a reflection of your overall safety culture. That’s not something limited to the rank and file worker and shop foremen, though. The most important link in the safety culture chain is at the top.

  • Invest in training your workers in all aspects of safety relevant for their jobs.

  • Appoint a senior manager with clout to monitor your safety and OSHA compliance, and empower him or her to enforce it throughout the company.

  • Empower any worker to halt work activities if he or she becomes aware of an unsafe work condition, until that condition can be corrected.

Everyone is part of your workplace safety culture – but senior management is the most important link in the chain, because management sets the tone throughout the organization.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.       

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Preparing for a Workers’ Compensation Audit

Just the mention of a workers’ compensation audit can stir up the butterflies in your stomach and add a serious dose of stress to your existence.

But, if you are scheduled for an audit, there is no need to dread it. A small amount of preparation and common sense can save you a lot of aggravation and money.

Timing
Devoting a few hours of effort now can save you a lot of time in the future. Give your full attention to the auditor and remain with them throughout the entire process. The process may take a couple of hours to complete, so make sure that the time and date of the scheduled audit are convenient for you. Call to reschedule the audit if it has been scheduled at an inopportune time.

Documentation

As soon as you learn about the audit, begin to collect and organize:

  • Payroll records,
  • Overtime payroll records,
  • Classification divisions, and
  • Insurance certificates.

This should give you plenty of time to compose a summary of each, which will help you to better communicate important data during the audit process. Information that is well organized will also expedite the process. If you can reconcile your calculations to payroll records, such as W2s and payroll stubs, the auditor might be more comfortable trusting your data.

You will also want to make any needed adjustment to payrolls; for example, subtracting bonus pay from overtime pay.

If applicable, you will need to apply the maximum and minimum payrolls to the calculations. This part may take a little research, since the minimum and maximum will vary based on state, career, and even among sole proprietors, partners and executive officers.

 

Classification and subcontractors

Before the audit, review the different employee job classifications and make sure that each person is correctly classified.

This is a key element to ensure that the audit flows smoothly. If there’s any question about how to classify an employee, call us. The auditor is most likely going to ask you about the classification and job duties for multiple different employees, so be prepared and armed with knowledge.

One last important preparation concerns subcontractors. Payments issued to subcontractors can go against your workers’ compensation in the event that the subcontractor did not have a certificate of workers’ compensation.

You can get a copy of the certificate, but make sure that it is current and shows coverage during the time the subcontractor worked for you.

 

D-day

Once the audit arrives, you’ll be glad that you took a little time collecting, organizing and summarizing your information. You will also find that the auditor is not a nemesis, especially when you provide honest answers and organized paperwork.

At the conclusion of the audit, ask the auditor for the audit worksheet. Then ask us to review the accuracy of the final audit.

You have a legal right to ask for a corrected audit anytime you think there were any errors. If any overpayment was made under the last three preceding audits, you also have a legal right to recover it.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.  

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer mechanisms.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

Contractors Make More Sales – Close more sales with easy, affordable financing options for your customers.  Everything can be done from your phone.  Thirteen banks to get financing from.  No hidden fees. Click here to learn more.

Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft.  This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of.  Under our program you can protect yourself, spouse and children.  Anyone you know can purchase this protection though our plan!  Click here to learn more or sign up.

Soon To Be The Best Artificial Intelligence Technology Marketing Platform In The World To Get You New CustomersSick and tired of paying social media experts thousands of dollars to do your marketing?  Paying Google, Facebook, Linkedin hundreds/thousands of dollars for lousy results?  How would you like to dominate your business niche?  How would you like get in on the ground floor and earn a massive new cash flow every month?   Click here to learn more.                

 

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group