Business Compromise Scams Continue Climbing

While companies scramble to protect themselves against cyber criminals and malicious attacks on their servers, there is a growing amount of business compromise crime that uses both technology and a human touch to extract funds from businesses.

Businesses have lost millions of dollars to social engineering scams, where attackers impersonate a company president or executive who is authorized to approve wire transfers to trick employees into transferring funds into a fake client or vendor account.

In other social engineering scams, employees may actually get a phone call from the criminal who tells them he is an accountant for a client company or a manager in order to get them to transfer funds or divulge banking information.

According to the FBI’s Internet Crime Complaint Center, in 2019 U.S. businesses were hit with an estimated 23,775 business e-mail compromise scams that resulted in aggregate losses of $1.7 billion. Figures for 2020 are not yet available.

Vishing — or voice phishing — attacks have been growing, but the COVID-19 pandemic put it into overdrive. The FBI in January 2021 warned of an increase in vishing attacks targeting employees working remotely in the pandemic, and of the heightened risks companies face when network access and broadening of online privileges may not be fully monitored.

Remote workers are good targets because they are more isolated and distracted. Also, they do not have onsite support and are often less vigilant about cybersecurity than when they are working in the office.

How to train employees

Providing practical employee phishing training is key to keeping your company safe. The following are activities and tips to help you train employees to stay vigilant.

The FBI and CISA advise companies to:

  • Consider instituting a formal process for validating the identity of employees who call each other,
  • Restrict VPN connections to managed devices only (meaning not on employees’ personal devices),
  • Restrict VPN access hours, and
  • Employ domain monitoring to track the creation of or changes to corporate brand-name domains.

Remote workers should be more vigilant in checking internet addresses, more suspicious of unsolicited phone calls and more assertive in verifying the caller’s identity with the company.

When training staff, you should:

  • Explain what exactly vishing and phishing is, how it happens, and what risks it poses on a personal and company level.
  • Explain the different methods of phishing attacks, including but not limited to those listed above.
  • Train your workers in identifying signs of phishing attacks, like e-mails with erroneous spelling and grammar, incorrect e-mail addresses (for example BobS@Startbucks.com), and fraudulent URLs.
  • Train your staff in recognizing phishing links, phishing attachments and spoofed e-mails. Additionally, your employees should know what steps to take after they identify a threat.
  • Conduct phishing simulation training during which employees are sent fake phishing e-mails. The results should be shared with them to show them how they fell for the scam and the damage that being duped into clicking on a malicious link can cause.

Insurance

As vishing and business e-mail compromise scams increase, more employers are seeking to add coverage in their commercial crime policies. Typically, these policies have been used to cover losses for internal theft, but lately about 50% of claims are for losses related to phishing and vishing scams.

The price of social engineering coverage varies by risk and limit, but it can often be added to a crime policy as a rider.

One thing though: social engineering coverage will often have lower limits than a typical commercial crime policy because of the risk of much larger financial losses than a company could expect from internal theft or white-collar crime perpetrated by an employee.

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.

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.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

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 – 2021 – BGES Group

Eight Insurance-cost Saving Tips for New Year

As March, 2021 gets underway, now is a good time to review your home safety and insurance plans for the rest of the year.

Make sure this year that you make your home safety a priority, and also ensure that you get the most bang for the buck with your insurance coverage.

You can follow these tips:

Home security system

If you don’t have a home security system, you should seriously consider getting one to protect your hard-earned assets and home investment. The good news is that if you get one that is monitored by a central station, or that is tied directly to a local police station, you don’t only protect your home, as you may also receive a discount on your homeowner’s insurance premium.

Install additional smoke alarms

As with a home security system, you can also reduce your insurance premium by installing smoke alarms, not to mention saving your life in case of a fire. Installing them in older homes can shave 10% or more from your premiums.

Some insurance companies will also give further discounts if you install additional smoke detectors.

Raise your deductible

You can reduce your insurance premium by raising your deductible if you are confident you can absorb the cost of paying that out-of-pocket expense if you incur a claim.

Multiple policy discounts

Many insurance companies will extend a discount of 10% or more to policyholders that have multiple policies with the insurer (such as auto and homeowner’s). Ask us for a quote for other types of insurance from the company that writes your homeowner’s policy.

Plan wisely for expansion

If you plan to build an addition to the home or a structure adjacent to the home, like a gazebo, know that you’ll pay more for your insurance, depending on how it’s built. Wood-framed structures cost more to insure because they are flammable. If you go with cement or steel-framing, you’ll pay less since they are less susceptible to damage from fire and bad weather.

Costly fun 

Pools and trampolines can have a significant impact on your insurance costs and add 10% or more to your premium.

Consider coverage type

If you purchase “guaranteed replacement value” homeowner’s insurance, your insurance will cover the entire cost of rebuilding your home after a covered calamity. Coverage limits on such a policy increase as the cost of construction and materials rises.

Make or update a home inventory

A comprehensive home inventory catalogue allows your home and belongings to be recovered, rebuilt and replaced after a loss. While this won’t help you save on your premium, it will prepare you in case you have to file a claim. With a home inventory, you’ll know exactly what you have lost in a fire, for example.

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.

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.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

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 – 2021 – BGES Group

OSHA, Workers’ Comp Implications for Telecommuting

As more Americans work from home than ever before, many employers are wondering about their obligations under OSHA as well as how to reduce the chances that workers may be injured while telecommuting.

Obviously, the chances of an injury when working from home are small. The most common issue that is likely to arise is long-term injuries from poor workstation design, which can result in carpal tunnel syndrome and other stress and ergonomic injuries that develop over time.

For the most part, employers should approach workplace safety for telecommuting workers as they would safety for office workers, particularly workstation design and arrangement (ergonomics) as well as work scheduling and distribution.

Duties under OSHA

OSHA’s General Duty Clause applies to any place an employer has staff working, be that at the company’s facilities or worksites, at a customer’s worksite, or even if they work from home.

Under the clause, employers have a general duty to “furnish to each of his employee’s employment and a place of employment which are free from recognized hazards that are causing or are likely to cause death or serious physical harm to his employees.”

Fortunately, most workplace safety specialists say that employers have little responsibility in ensuring a safe workplace. In fact, OSHA has issued guidance stating that it:

  • Won’t inspect employee’s home offices
  • Won’t hold employers responsible for safety in home offices, and
  • Does not expect employers to inspect home offices.

Workers’ comp still in play

While that is good news, employers are still responsible for any injuries an employee suffers while working from home under workers’ compensation laws.

For an injury to be considered work-related it must:

  • Have happened while the employee is on the clock, and
  • Occur while the worker is performing their work tasks.

With that in mind, employers do have an obligation to ensure that a home worksite is safe in order to prevent injuries, even if OSHA does not require it.

The international law firm of Foley & Lardner, LLP recommends that employers:

  • Provide assistance and guidance to employees regarding the setup of the home worksite. Consider developing a YouTube video or written handout giving instructions pertaining to the setting up of equipment in an ergonomic fashion, electrical setup (i.e., only plug in two electrical devices in an outlet, etc.).
  • Establish a hotline or other communication mechanism for remote employees to call if in need of assistance.
  • Develop a checklist addressing safety and productivity issues and have employees complete the checklist every six months or so.
  • Train employees on a recurring basis (such as annually) as to remote employees’ obligations to report alleged work injuries and/or illnesses, and how to report such injuries and/or illnesses.

Specific tips

  • The desk, chair, keyboard, mouse, terminal, and other accessories should all be at the appropriate heights to reduce strain on the eyes, neck, and wrists:
    • The keyboard and mouse should be at the right height where wrists are in a neutral position.
    • The chair should be at the right height to ensure the employee can type without strain on the wrists and so that they are looking directly straight ahead at the terminal.
    • The terminal should be placed at eye level.
    • The desk should be at the right height to ensure all of the above. A kitchen table or counter would usually not be suitable.
  • Ensure that the equipment is sturdy. For example, the desk should be appropriate height and sturdy enough to handle the weight of any peripheral equipment that your work may place on it (e.g., computers, printers, fax machines, scanners, etc.).
  • Ensure that lighting is properly arranged: there should not be reflections on or glare from the computer monitor.
  • Make sure extension cords and cables are in good condition and do not present a tripping hazard.

The takeaway

While you as an employer are not required under OSHA regulations to inspect your workers’ home’s for compliance, it is a good idea to give them guidelines for how to set up their home office and also work with them to supply any needed furniture or accessories they would need to safely carry out their work tasks.

You may also want to consider asking them to install a smoke alarm in their home and that they have a plan to evacuate in case of fire or other emergency. Also if they have a lot of electrical equipment, there should be sufficient ventilation.

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.

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.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

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 – 2021 – BGES Group

Insurers Expected COVID-19 Workers’ Comp Surge; It Never Came

COVID-19 workers’ compensation claims have not been as widespread as insurers and ratings agencies around the country had predicted when the pandemic first started in early 2020.

Also, a large chunk of COVID-19 workers’ compensation claims filed by workers nationwide have been rejected, with insurers often citing lack of proof that the illness was contracted in the workplace.

The insurance industry was bracing for a deluge of workers’ comp claims when the seriousness of the pandemic became evident. This was especially true more as states passed laws requiring that essential workers be eligible for workers’ compensation benefits if they contracted the coronavirus. The laws introduced the presumption that if an essential worker came down with the disease, they had contracted it on the job.

Hundreds of thousands of COVID-19 claims were filed by workers around the country last year, but insurers were never overwhelmed. That’s because the number of other, more typical workers’ compensation claims tumbled dramatically as more employees were asked to work from home, while others were laid off in droves as plants shut down or business slowed.

With fewer people working on-site, the number of other workplace injuries and illnesses dwindled, experts say.

In the nine months ended Sept. 30, workers’ compensation payments and liabilities fell 7.6% from the same period of 2019, according to the National Council on Compensation Insurance (NCCI), which is the rate-making agency in more than 30 states.

Rejected claims

As mentioned, a significant percentage of COVID-19 workers’ compensation claims have been rejected. For example:

  • In California, which has a law that extends the presumption that a case was contracted at work for anybody working on-site, 26% of the 93,470 COVID-19 claims filed in 2020 were denied.
  • In Texas, which has no presumption for COVID-19, 45% of the 32,000 related workers’ comp claims were denied, despite those workers testing positive.
  • In Florida, which has given front-line workers who are state employees a presumption of eligibility, 22% of state employees’ coronavirus-related workers’ comp claims were denied last year, compared to 56% of cases for workers in the private sector. The NCCI also noted that fewer than 2% of COVID-19 workers’ compensation claims cost more than $10,000.

Payouts lower than expected

Another factor is that even COVID-19 claims that were accepted, often did not end up costing the insurers as much as they expected to pay out because the majority of sick workers did not require any hospital stays or treatment. The percentage of workers requiring treatment was smaller than expected.

Insurers also say that many claims were likely never reported in the first place, particularly when workers had mild or no symptoms.

That’s backed by the NCCI, which recently issued a report showing that:

  • 20% of COVID‐19 medical claims had an inpatient stay.
  • Of those claimants with an inpatient stay, 19% were in an ICU for some portion of their time in hospital.
  • The average length of inpatient stays for COVID‐19 medical claims was 7.5 days.
  • The average cost per day was $5,400, totaling on average $38,500 per inpatient stay.
  • COVID‐19 medical claims requiring an ICU visit tended to incur longer and more expensive inpatient stays, at 11.5 days and $67,300 per inpatient stay, respectively.

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.

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.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

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 – 2021 – BGES Group

Seven Ways to Reduce Your Homeowner’s Premiums

Everybody wants to save money on their insurance premiums. If you own a home, you actually have a number of options for getting discounts on your homeowner’s coverage.

There are some obvious ways, like installing fire-resistant siding and smoke detectors in the home. You can also get discounts if you purchase your car insurance from the same company that insures your home.

But there are many other credits available to reduce the costs of homeowner’s insurance that you may not be aware of. Here are seven ways that many homeowners don’t know about:

  1. Gated community credit – If you own a home within a gated community, you may be able to save 5% to 20% off your premium, according to Bankrate.com. The discount falls under loss mitigation, as the extra security of such a location makes your property a less attractive burglary target.
  2. New wiring credit – According to the National Fire Protection Association (NFPA), U.S. fire departments respond to an average of 44,880 home structure fires involving electrical failure or malfunction annually. These fires result in 440 civilian deaths, 1,250 civilian injuries and $1.3 billion in direct property damage. If you own an older home, you may qualify for a 10% credit on your insurance premium if you replace the wiring.
  3. Impact-resistant roofing credit – Roofs are damaged from rain, hail and wind, which can lead to significant home insurance claims. As a result, many insurers offer homeowners a 5% to 10% discount on premiums if they upgrade to an impact-resistant roofing material.
  4. Claims-free credit – If you haven’t filed a homeowner’s claim in the last 10 years, the insurer may be willing to knock as much as 20% off the annual cost of your coverage, according to Bankrate.com. If you’ve been with the same company for years but have had a claim or two in the past, you may still qualify for a long-term customer discount.
  5. New home/home renovation credit – Buy a new home and the insurer may reward you with a discount on your premium. You may be able to get the same discount if you renovate an older property. However, check with us for suggestions on maximizing credits before you begin.
  6. Non-smoker credit – In 2011, an estimated 17,600 smoking-material home structure fires caused 490 civilian deaths (19% of all home structure fire deaths), 1,370 civilian injuries and $516 million in direct property damage, according to the NFPA. While insurers generally raise their rates if there is a smoker in the household, many will also give you a 5% to 15% discount if you don’t have one.
  7. Retiree credit – Retired homeowners tend to spend more time at home, and this means they are more likely to be able to prevent an emergency such as a gas leak or broken pipe from going from bad to worse. If your household includes an adult who is 55 years or older and retired, you may qualify for a discount of 10% to 25%, according to <i>Bankrate.com</i>.

Homeowner’s insurance costs vary based on many factors, including your location and the coverage you select. Contact us today to review your policy and learn if you qualify for any of these cost-reducing credits.

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.

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.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

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 – 2021 – BGES Group

Unhappy With Your Insurance Agency/Broker? Feel It’s Time For a Switch or at Least Speak To Someone Else and Explore Your Options?

In the 39 years we’ve been in business we come across a lot of different insurance agencies and brokers. Most are caring, well intentioned however quite a few are incompetent, order takers who write policies then forget you.

We want you to know our office offers “Boutique Service” where you deal with one person, the owner, who has 39 years experience, is text book and street smart. When you call in seconds you get him on the phone, your issues are dealt with immediately, he does not fee you to death and offers “IBM” service. In addition, he has 50+ insurance companies to shop your account with so you get excellent coverage at GREAT rates.

Questions:

  1. How often does your broker come see and review policies with you? How often do they make coverage recommendations?                                —
  2. Does he/she shop your insurance regularly or roll over your policies each year with the same companies?                                                              —
  3. Do you like your broker, trust him/her?  The reason we mention this is because we’ve met quite a few brokers over our lifetime they know more than their customers but are idiots dressed in suits.  Hope we made you laugh!                                                                                                                     —
  4. Who services the day to day on goings of your account?  Is it one person or do you get a different person each time?  Does your account get bounced from one person to the next?  Do you have to deal with a call center?   Alert: Most Customer Service Personnel are nice people but they have 50, 100, 150+ accounts to service so plenty of mistakes are made.   Our office on the other hand is like a “Rodeo Drive” boutique. You deal with the “Top Person” and never have to wait for anything!                     —                                                                                       
  5. Does your broker have the right expertise for your industry?   For example, if you’re a New York Contractor who has their General Liability with a Surplus Lines insurance company, do you believe they know the policy exclusions, restriction, ins and outs of each policy form? Let us assure you these type policies are NOT written to pay claims so it’s very important they be designed by a “Construction Insurance Expert” and this person really knows what they’re doing.                                                                                                —                           
  6. How easy is it to get them on the phone? I personally find it so annoying to call, get an answering machine, push buttons and leave a message.  Then with everyone working remotely, not hearing back from them for hours, days, sometimes ever.                                                             —
  7. If you require certificates of insurance, how quickly do you get them back? Is it minutes, hours or days?  Do they often have mistakes? Do you have to pay a fee for each certificate?                                                                —
  8. Do they fee you for everything?  Hundreds, thousands per policy?  For instance some organizations charge up to a 10% service fee to service your Worker’s Compensation coverage. That is a very high fee to add to a very costly coverage.

Well that’s it for this article! If you’re unhappy with your present agency/broker, please call 914-806-5853 and speak with Gary Wallach.  He is one of the most caring, helpful and knowledgeable brokers we’ve come across in a while. He is responsive, operates like doctors did in the 60’s that made home calls and had very personal relationships with their patients (client’s).

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) Replacing policies that are 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.

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 – 2021 – BGES Group

Malingering, the Gray Area in Workers’ Comp Fraud

Nearly 25% of all lost-time workers’ compensation claims are exaggerated, according to the National Insurance Crime Bureau.

While only a small percentage of workers’ comp claims are fraudulent, quite a few include employees staying away from work even after they’ve been cleared to return by their doctor and when they feel able to work. The term for this is malingering and it can cost an employer a lot of money.

When injured workers malinger, the claim lasts longer than the medical disability. The employee has recovered enough to return to work, but has not gone back.

This can be due to employee intent, a medical provider’s lack of knowledge about the job requirements, employer disinterest, or other reasons. As you can see, it’s not always the employee’s fault.

When an employee malingers and doesn’t return to work when they are able to, the cost of the workers’ compensation claim will continue to rise, counting against the employer’s claims experience. Additionally, malingering can evolve into a self-perpetuating cycle: the longer someone stays away from work, the less likely it is they will ever return.

While it’s not a good idea to spy on your workers at home, you also don’t want one of them drawing out the claim to both your and their detriment. However, there are signs indicating that an injured worker may be malingering.

20 Indicators of Malingering or Fraud

  1. Tips from neighbors, relatives, friends or co-workers that a claimant is actually more active than alleged.
  2. The injury coincided with a company’s reduction of the workforce.
  3. Nurse case manager, doctor and therapist report a healthier and more active claimant than what is alleged.
  4. The lack of organic basis for the disability; most of the complaints and allegations are subjective.
  5. Premature or excessive demands for compensation.
  6. The claimant works in a seasonal occupation.
  7. The claimant often misses their therapy and/or doctor appointments.
  8. Having “dueling doctors,” with one physician stating that the claimant is disabled while another reports a completely different prognosis indicating they are not disabled.
  9. No witnesses to the reported accident.
  10. The claim was reported after the claimant was terminated, suspended or had resigned.
  11. The claimant had only been employed for a short while when the alleged accident occurred.
  12. The claimant is not home when you try to contact them.
  13. The claimant is disabled longer than is normally associated with the reported injury.
  14. The claimant has a history of workers’ comp claims or short-term employment.
  15. The claimant’s job performance has been below average, or they were disciplined at some point.
  16. The claimant’s Facebook or other social media page shows they are more active than they claim they can be.
  17. The claimant has financial problems.
  18. The course of treatment seems to be too much for the injury, like extensive treatment and testing for a minor injury.
  19. If it was a car accident, the damage to the vehicle is inconsistent with the claimed injuries.

The documentation of treatment is suspect — for example, photocopies of bills, no

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.

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. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

 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 – 2021 – BGES Group

Losing Everything Due to Inadequate Auto Liability Coverage

All states set minimum coverage levels for drivers, but if you are involved in a serious accident, minimal coverage may not get you off the hook for the full extent of damages.

Your state’s goal is to make the required insurance affordable, but in many cases the established minimum coverage is not adequate to cover the liability costs if you are found to be at fault in a costly accident.

Even limits that are several tiers above the minimum may not be adequate for some drivers, because once those limits are exhausted, any remaining damages must be paid out of pocket.

This is important to consider as the cost of automobile claims has been rising rapidly during the past 10 years for a few reasons:

  • More distracted driving has caused in increase in deadly accidents.
  • The cost of medical care to treat injured people has skyrocketed.
  • Modern vehicles have loads of expensive technology, which if damaged, is costly to replace or repair.

Bankruptcy is the first thought that comes to mind for people trying to avoid paying excess damages, but bankruptcy does not come without problems. It will probably hurt or even eliminate your chances of getting credit in the future; even if credit can be obtained, it will cost you a lot more and come with conditions.

Because the costs and lost opportunities that result from bankruptcy are significant, it’s not an option most people want to or should choose. For that reason, let’s instead look at your obligations and how to minimize your risk of having to pay for damages that could be covered by higher liability limits.

Consider the following example: You have an auto policy with a liability limit of $100,000. One afternoon, your cars brakes fail and you rear-end the car in front of you with very high impact, paralyzing the driver.

Once your limit has been paid by the insurance company, it becomes your obligation to pay for any further damages. In the example above, if the injured party is justified in asking for $3 million, your insurance company would pay the $100,000 for which you are covered, and you would then be expected to pay the remaining $2.9 million.

Alternatively, the injured party could take you to court, which could easily cost you hundreds of thousands in legal fees in addition to any judgment granted to the plaintiff. Even if you file bankruptcy at that point, if you have assets, you would have to pay what you have and possibly lose everything. Your wages also may be garnished to pay any judgment.

In any case, not having adequate liability, let alone minimum limits set by the state, is not really a solution.

What you can do

The smart choice is to opt for an auto policy with higher limits. Premiums in most cases are not significantly more for higher liability limits. Another option is an umbrella policy, which is available in increments of a million dollars that would cover liability for all the vehicles in your household for one low premium.

With such options available, why risk damaging your future with a bankruptcy or, worse yet, losing everything you own because you did not plan in advance to set up coverages that would protect you?

It doesn’t cost you anything to discuss the options with us. We can walk you through the various options for increasing your auto policy’s liability or secure an umbrella policy that would cover your entire household ― as well as other non-auto related liability claims, such as someone injuring themselves at your home.

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.

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. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

 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 – 2021 – BGES Group

Are Injuries on Commute or in Parking Lot Covered?

Are Injuries on Commute or in Parking Lot Covered?

When employees are injured on the job, they are eligible for workers’ compensation benefits, but not if the accident occurs on their commute to or from work — in most cases, at least.

But how about if an employee is injured in your parking lot, or while running an errand for you after work? There are two rules that govern at which point a worker is eligible for benefits if they sustain an injury:

The ‘coming and going’ rule

Typically, workers’ comp benefits won’t be paid for injuries sustained during a daily commute. This is known as the “coming and going” rule.

Exceptions consider whether the worker’s travel was a benefit to the employer, and related to their job duties. There are four main exceptions:

  1. No fixed work site — The employee travels to multiple job sites. If a worker travels to multiple sites in one day and gets injured en route even to the first one, injuries would typically be compensable.
  2. Off-site work — This could include if the employee is injured while on a business trip. The worker is deemed to be acting in the scope of his or her employment the whole time while away on business, even at the hotel.
  3. Special assignment — If during their regular commute the employee also is performing a special errand or “mission” for their employer.
  4. Traveling worker — When an employee must travel in order to accomplish their job duties, the coming and going rule does not apply.

The ‘premises’ rule

If an employee is injured on the premises of your place of employment, they are more or less “at work” and should qualify for benefits.

Premises are not limited to areas owned or leased by the employer, and include areas under their control.

Various courts have held that employment starts when an employee arrives at a parking lot owned, maintained or used by the employer.

The takeaway

A recent case dealt with these issues. A worker was injured while driving to work inside an Air Force base, where his private military contractor employer operated multiple worksites. He was on the base, but still 3 to 5 miles away from his worksite.

A California appellate court ruled that he was eligible for benefits under the workers’ comp premises rule.

This and other cases show that there are off-site dangers to workers that employers cannot account for, particularly on public roads.

Still, other dangers on your premises — think icy walkways — can be minimized with proper risk management, by alerting your landlord (if you rent) if there are such dangers, or having it fixed if you own the property.

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.

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. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

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) Replacing policies that are 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.

 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 – 2021 – BGES Group

Homeowner’s Five Coverages You May Not Know You Need

When you own a home, you may have extenuating circumstances and/or own property that your insurance may not cover.

There are a number of extra coverage options you can add on to your policy, which are known as endorsements.

They are essentially riders that you purchase separately but tack on to your homeowner’s coverage as a policy extension.

In fact, there may be risks in your home that you never thought of and that won’t be covered by your homeowner’s policy.

Here are five endorsements that you should be aware of, according to the insurance trade publication National Underwriter.

‘Additional Insured Residence Premises’ 

This endorsement is specifically for people who have an ownership interest in a property but don’t live there.

This could come in handy for you if you are helping your adult children out when buying a home and you want to protect your part of the investment should the house be damaged or destroyed in a calamity.

‘Other Members of Your Household’

This coverage is becoming more and more important as more people cohabitate.

While you may own a house and live with a boyfriend or girlfriend (not a spouse) and consider them a member of the household, the insurance company would not consider them insured.

An additional insured cannot be a guest, household employee, tenant or boarder. Whomever you intend to cover must me identified by name on the endorsement.

‘Other Structures Increased Limits’

Maybe you’ve built a new man cave – a small cottage in the back yard outfitted with a giant plasma TV, nice sound system and bar.

However, since it’s a detached structure, your homeowner’s policy will not likely cover the entirety of the loss, should it burn down or suffer some other damage or theft.

Besides sheds and your man cave, “other structures” can also include gazebos, patios, barbeque pits, swing sets and other items in your backyard.

Under the typical homeowner’s policy, other structures are covered at 10% of the policy limits. So if your home is insured for $200,000, your other structures would be insured for 10% of that – $20,000.

If you’ve got pricey stuff in your backyard, you may want extra coverage.

‘Mechanical Breakdown’

This endorsement was only issued for the first time in 2014 and it covers the mechanical failure of household appliances like: central air conditioning, central vacuums, chairlifts and elevators, electric vehicle charging stations, heating systems, including water heaters, home automation and security systems, saunas, hot tubs, therapeutic baths, swimming pool pumps and filtration systems, stoves, wall ovens, refrigerators, well-water pumps, and sump pumps.

The basic limit is $5,000, but you can buy higher limits.

‘Water Back-up, Sump Discharge/Overflow’

While your policy will cover damage from a sump pump back-up or overflow, it won’t cover the cost of a sump pump that breaks down. This endorsement will cover that.

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) Replacing policies that are 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.

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 – 2021 – BGES Group