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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

Don’t Get Caught Holding the Bag If Your Company Is Sued

There is no set formula regarding how much liability insurance a business needs. However, the more coverage you have, the more bulletproof your company becomes.

If you are running a very successful business, you will probably want minimal disruption if an incident occurs in which you may be seen as liable. Therefore, the more coverage you have, the greater the likelihood that your company will not be affected by such an incident.

Conversely, if you don’t have enough coverage, the incident may result in you paying hundreds of thousands — if not millions — of dollars out of pocket. For many companies, that would be a death knell.

Hitting your limits

Your liability coverage will usually be included in your company’s property insurance as well as commercial auto policies. You may also have errors and omissions coverage for professional services.

The problem with not having enough liability occurs when you are faced with a legal situation where the injured party or parties don’t want to settle for the coverage amount you have purchased.

For example, if you have a $2 million liability policy and the combined parties will not settle for anything less than $4 million, then you have a problem on your hands.

If you go to court and your insurance company agrees to pay your limit to the other parties, then you are probably going to be on your own to cover your legal costs at this point.

Multiple plaintiffs are not uncommon

Oftentimes when a liability occurs, it affects more than one person. Take the 2015 explosion at a fertilizer plant near Waco, Texas. About 15 people died and over 100 were injured, many seriously.

While your business may not have the risk potential of a fertilizer manufacturer, there are always potential dangers that can affect more than one individual. Your liability limit is not in any way a per-person limit.

Understanding the numbers

In most cases, you will see two numbers on your liability policy:

  1. Your occurrence limit. This refers to any single accident/incident and to subsequent related incidents. For example, in the Texas fertilizer plant incident, the blast constituted an occurrence. So, any death, injury or property damage from that accident is only covered by this occurrence limit.
  2. The annual aggregate. This limit is if there are multiple and unrelated accidents or incidents. For this reason, the occurrence limit is extremely important and is the number you should look at as your coverage amount.

The ultimate backstop

There are a number of ways you can purchase higher limits. Some insurers will allow you to increase your liability limits on each of your policies. However, you may be capped at a certain limit, depending on the policy type, the size of the policy and the company.

The best solution is to purchase an umbrella policy. This will extend the limits on all or most of your policies. For example, if you have a $2 million occurrence limit, the coverage amount in an umbrella policy will pick up any coverage thereafter.

Umbrellas can be purchased in increments of a million dollars. It’s not unusual for a business to purchase $10 million or more of this excess coverage.

Deciding on limits

There are a few good ways to determine how much liability coverage you need. We can help determine how much you should have.

Liability limits should be taken seriously because your business is your livelihood. Any liability incidents are not pleasant, especially when they put your business or your assets at stake.

Robust insurance policies help neutralize these incidents and are crucial to the ongoing success of a business, especially when an undesirable incident occurs.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

How to Avoid Having Your Cyber Claim Denied

As online threats continue growing, businesses need to consider securing cyber insurance policies that can help defray the costs of an attack on their network or a theft of their employees’ or clients’ personally identifiable information. For some companies coverage is an absolute necessity.

Businesses are faced with increasing threats and cyber criminals are constantly working to devise new ways to infiltrate organizations’ databases and extract information or find some way to monetize their hacks, like in the case of ransomware.

Cyber insurance can help your business recover from these events, but as with all insurance, there are risks that are covered and those that aren’t – and you often will have a certain amount of time to file a claim once you’ve incurred damage.

Your claim may be denied if you file too late, don’t understand your coverage, don’t understand your exclusions or don’t get the insurance company involved early enough, according to the insurance news website PropertyCasualty 360.

In order to best ensure that your claim gets paid, you should do the following:

 

  1. File your claim on time

Most cyber policies are written on a “claims made” basis, meaning they will only cover claims that are made when the policy is in effect. If someone files a claim against your company after the policy expiration, it would likely be rejected.

Some policies may include language that allows claims to be made for a few months after the policy expires, but not all policies contain this language.

Also, if your organization experiences a cyber event that may eventually lead to a claim, it’s important that you notify your insurer during the policy period. This is really important because if you fail to alert the insurer about it early in the process, they may deny the claim.

You need to communicate to your staff (particularly any information technology personnel) that they need to alert management about any suspicious activity on your networks. Make sure that you create a policy for staff to report all suspicious activity so that it can be investigated further to see if it merits reporting it.

 

  1. Understand the depth of your coverage

Because cyber policies are a relatively new phenomenon and continuously evolving, coverage will often vary from insurer to insurer.

It’s important that when purchasing a policy that you sit down with us to discuss your exposures (such as if you store client credit card information on your servers). This can help us find the right coverage for your organization.

Coverage will vary depending on the type of business you are running, the technology you are using and what data or company intellectual property you want to protect.

Some policies will also require that you have specific protocols and software in place to reduce the chances of your data being hacked. For example, policies will require that the policyholder applies security patches, uses encryption technology and has a secure-socket layer to protect credit card data.

If you fail to have this in place when your policy is in effect, the insurer may reject your claim if your systems are breached.

Other areas that cyber policies will often differ on include:

  • Paying for any potential legal costs after a breach.
  • Paying for tools to remediate any exposure.
  1. Understand what’s not covered

All insurance policies have exclusions, and cyber policies are no different. There are many exclusions in cyber policies, but again, they vary from insurer to insurer. Examples of exclusions include:

  • If your data is compromised when sharing it with a vendor, such as a payroll provider.
  • If you have a system pipeline into a client’s network and the network is hacked.
  • Fraudulent entry into certain parts of your network systems.
  • Patent or copyright infringement.

Again, it’s crucial that you read your policy before signing and that you evaluate whether any existing or future contracts with vendors or clients fall outside the policy’s coverage area.

Two of the major areas of coverage you may want to look for in exclusions are:

  • Will the policy cover data that is stored outside of your network, either on the cloud or on a vendor’s network?
  • Will externally generated data be covered if a breach occurs within your system?
  1. Get the insurer involved early

Sometimes a breach is not readily apparent. You or an employee may notice that some programs are not performing as usual.

When in doubt, reach out to us or the insurance carrier if you think you’ve had a breach. Even if it’s just asking questions or trying to clear up your uncertainty, it’s better to contact the insurance company so that the event rises to its radar.

It’s better to reach out early because it will give the insurer a chance to investigate the matter and determine if there has been any exposure.

This will give you peace of mind that you will be protected should the matter rise to the level of a genuine claim.

The worst thing you can do is to wait until after you’ve started receiving complaints from customers, vendors or regulators. At that point your insurer will have a much more difficult task on its hands.

Getting the insurer involved early will let it get ahead of the claim, which makes managing it easier – and it can limit the amount of fallout.

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 60+ 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 – 2022 – BGES Group

Construction Firm Tips for Avoiding Insurance Disasters

When you’re in the construction industry you already have lots to worry about: Keeping your workers safe in one of the most dangerous industries, uninsured or underinsured subcontractors, and finding experienced employees from a shrinking pool of talent.

Not only that, but lawsuits lurk in any project, exposing you to serious losses that can threaten the survival of your business. For these reasons, it’s important that you understand your insurance coverages and that you know how to address any deficiencies that may exist in your risk management strategy.

To make sure that you are not left exposed, we recommend the following:

Choose the right insurance company  We can help you find an insurance company with the experience in writing policies in your industry and the resources to tailor coverage to your needs. Remember, some large projects and lenders require that you are covered by only an A-rated insurer.

Don’t buy the cheapest policy If the policy price is significantly lower than other insurers, that may be a red flag. Make sure the insurer will be covering what the project owner, your lenders and other stakeholders require. If you find out your policy is deficient after you’ve purchased it, you’ll have to cancel it and buy a new one. There go your profits.

Understand your policy  All policies have exclusions and you should understand what the insurance company will cover and what it won’t. We can sit down with you and review every line of your policy, including any additional insured endorsements or exclusions, so you know exactly what’s covered and what isn’t.

Don’t buy insurance you don’t need  We can do a thorough review of your business and its risks with your help. It’s important your coverage meets your needs and that you don’t carry coverage for risks you’re unlikely to face.

Use the correct class codes  It’s easy to misclassify certain employees, and if you err it can come back to haunt you. When it’s time for renewal, go through your books and make sure you have job descriptions for all of your employees. Keep track of your staff so that you get it right the first time.

Also, keep track of new employees that you hire (or let go) during the course of the year, so that adjustments can be made to your policy.

Avoid the independent contractor trap  During the last few years, the IRS, the Department of Labor and a number of state agencies across the country have been cracking down on the practice of worker misclassification.

There are many implications for classifying someone who is an employee as a contractor, and all of them are costly. You could be looking at back taxes, owing additional workers’ comp premiums, lawsuits, and more.

Don’t understate payroll If your insurer audits your business and they find that your numbers just don’t add up, you could end up having to pay additional premium or risk policy cancellation.

Understand how ‘claims-made’ coverage works  “Claims-made” policies have lower up-front and ongoing costs and they only let you make a claim during the policy year during which a project is being built.

The biggest drawback of these policies is that if you have to file a claim years after the project is completed, you may be out of luck especially if you’ve switched insurance companies.

Check your subcontractors insurance certificates  Know whether or not your policy will cover subcontractors or if they need to carry their own liability coverage. Verify that any subcontractors you use have valid and current certificates of insurance.

Keep your policies current and up to date  Many factors should prompt you to revisit your insurance policy: Hiring new employees, buying new equipment or vehicles, or opening a new office. These types of changes should prompt you to review your coverage with us to ensure you stay fully protected.

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 60+ 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 – 2022 – BGES Group

N.Y. Contractors! Looking for Better Business Insurance Rates, Coverage or Service?

NEW YORK CONTRACTORS

We Offer Just About Every Conceivable Construction Insurance Program Available in New York State So if You’re Looking for Lower Rates, Better Coverage or Much Better Service all You Have To Do is Pick Up The Phone and Call Gary Wallach at 914-806-5853!

Why Call:

  1. We represent just about ALL THE BEST New York construction insurance programs (most insurance agencies are generalists and do not offer all the programs we do).
  2. We are one of tri-state’s leading construction insurance specialists.
  3. We have incredible marketing muscle as well as strong relationships with insurance companies. That translates into GREAT coverage and pricing for YOU!
  4. We offer VERY PERSONAL SERVICE so when you call you’ll get us on the phone in seconds and not have to wait for help ever!
  5. We offer one-stop shopping for:
    1. Property
    2. Equipments and Tools
    3. Builders Risk
    4. General Liability
    5. Umbrella Liability
    6. Bid & Performance Bonds
    7. Business Auto
    8. Worker’s Compensation
    9. New York State Disability
    10. Group Health
  6. We can help you with contract reviews.
  7. We can help you with screening subcontractors insurance coverages.
  8. No more phone tag. No more waiting for responses to emails.  No more waiting hours/days for certificates.

 

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.

Here is What Customers Think About Us:

In the middle of the busy season we received a letter from our old carrier that they no longer service NY, only NJ. We had only 60 days to find a new company. We got in touch with Gary who is very knowledgeable, friendly and experienced, assured us that he will take care of our insurance and he did.  It has been now more than 5 years without an issue.  Glad we found them and looking forward continuing working with Gary and the group.

We have used BGES Group for our insurances for over 20 years and had an amazing relationship with Gary Wallach. Gary is always looking for the lowest cost insurance, the highest quality, and his speed at providing certificates cannot be matched by anyone.

I’ve known Garry Wallach for many years and he’s always been very Professional each time we’ve worked together. He’s always willing to take that extra step to help me resolve any of the insurance issue’s that …More

Gary from BGES Group is by far the most responsive insurance broker i have ever met. He does an outstanding job with advising our small plumbing company on all the ins and outs of big insurance companies and he personally handles getting …More 

I’ve worked with Gary for a few years now for workers comp and I would recommend him to anyone needing a new agent. He is very easy to speak to, responsive and always provided great advice and customer service.

I have been working with Gary for over 10 years and find him to be one of the most professional, responsive, knowledgeable and hard working people in the business. You are making a mistake if you do not give BGES a shot at your business. You will not be disappointed!

Gary and his team are phenomenal, they care about every single client as if they would be the only client!

Gary Wallach is the best insurance broker out there. He has been in the business his entire life. I trust Gary completely. He is reliable knowledgeable courteous and responsive to any questions I have. I get my certificates of insurance within minutes after requesting them. Go with Gary and you will see how your business improves.

Gary was a tremendous help in provide information and explaining the details of the worker’s compensation and insurance options for my construction business. Gary is very knowledgeable, I highly recommend BGES Group Insurance. Give Gary a call, I’m confident he will take good care of you insurance needs.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency specializing at Construction Insurance and Worker’s Compensation for any type of business.  We offer, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

Looking for a New Worker’s Compensation Policy?

If You are Sick of Dealing with Computer Systems and Inexperienced Customer Service People Who When You Call Take Minutes to Hours to Get on a Phone, You Will Love Working With Us!  We Work Like a Brain Surgeon Who Specializes in One Thing!  Now You Can Have It all Including “PRICING” and “Best In Coverage!”  Read On–>

Here’s What We Can Offer You:

  1. 42+ Years Experience – You know the old saying “You Get What You Pay For?” When you work with us you get:
  2. To work with a very sharp Worker’s Compensation Specialist
  3. Who answers your call within seconds
  4. Who knows how to speak to people
  5. Whatever you need is taken care of right away
  6. You’ll probably never have to wait for anything
  7. Is always available to talk day or evening even weekends
  8. Who is a smart, helpful, kind, likeable person who you’ll end up trusting because he always does what he says.
  • Low RatesAfter 42 years of being a “Tri-State Worker’s Compensation Specialist” we know which companies offer the lowest rates and represent them as well.
  • The Right Coverage – Each state has their own Workers Compensation Benefit Laws. We offer policies that cover you properly in multiple states.   WARNING! Failure to have “The Right Coverage” can expose you to large, uncovered financial losses.  YOU will be responsible and one loss can knock you out of business.  Getting “The Right Coverage” is critical!                                                                                
  • Proper Payroll Classification – We are “Encyclopedias of Knowledge” when it comes to classification of payrolls.  Having payrolls assigned to wrong class codes can cost you thousands extra!  That’s where our expertise comes in.  Relying on insurance companies and their auditors can be “Hazardous To Your Wealth.”  In May 2022 we reduced a contractor’s audit by $10,000!  Went from $27,000 to $17,000.  That’s why using us is “Beneficial To Your Wealth!”
  • Four (4) Programs:
  1. Stand-a-Lone Worker’s Compensation Policies. We can insure any type of business.
  2. Special Discounted Worker’s Compensation/Payroll Program for the following classes of business (This Program is Different In That Our #1 Carrier Owns it’s Own Workers Compensation Insurance Company):
    1. Auto Service
    2. Contractors – This is the only program we know that has been offering contractors stable coverage for 23+ years!
    3. Limousine Services
    4. Local Truckers

3. Professional Employer Organization (PEO) – Being cancelled due to poor loss experience?  Without coverage?  Come to us for help!

4. State and Assigned Risk

                                           SPECIAL PROGRAM

Get Back Up to $500,000 from Past Worker’s Compensation Companies (Can Go Back 7 Years)!  Savings Can Be Up to 40%!  This Is a True Win Situation for YOU, Nothing Less!  We Do all The Work!

Workers’ compensation premiums can be a large portion of an overall insurance program, as well as a large percentage of operating costs. Most businesses aren’t aware that it is quite possible they are being overcharged for their workers’ comp premiums, without fault of their broker or even their insurance carrier.

The fact is, workers’ compensation insurance costs are a result of many different factors, which include but are not limited to: labor class codes, experience modifications, claims history, WC rating worksheets, loss cost multipliers, and several other factors.

For more information call Gary Wallach at 914-806-5853 Today!

  • Cover You In Multiple States – If you operate in multiple states you need to be insured with a company that can cover you in each state.  State and Assigned Risk Plans usually pay according to the Workers Comp Benefit Laws of their home state.  We have companies that can cover you in multiple states with “The Right Protection.”
  • Pay as You Go – For those of you whose payroll varies from month to month, we have programs where you pay less when payrolls are lower and more when higher.  Cash flow wise, this can be a big help.
  • Payroll Caps Automatically Applied – As an example if you are a New York contractor, payroll caps apply to certain class codes.  Some of our programs automatically apply payroll caps so you do not overpay each month.
  • No Annual Renewal Deposit – We have programs that eliminate annual renewal deposits.                                              —
  • No Service or Policy Fees – There are agencies that charge $500, $1,000, $2,500+ policy fees or up to 10% Service Fees.  Unless our program does not pay us, we DO NOT charge you these additional fees.
  • Issue Your own Certificates On-Line – Some of our programs allow you to issue your own certificates on-line so you never have to wait.

Here is What Customers Think About Us:

In the middle of the busy season we received a letter from our old carrier that they no longer service NY, only NJ. We had only 60 days to find a new company. We got in touch with Gary who is very knowledgeable, friendly and experienced, assured us that he will take care of our insurance and he did.  It has been now more than 5 years without an issue.  Glad we found them and looking forward continuing working with Gary and the group.

We have used BGES Group for our insurances for over 20 years and had an amazing relationship with Gary Wallach. Gary is always looking for the lowest cost insurance, the highest quality, and his speed at providing certificates cannot be matched by anyone.

I’ve known Garry Wallach for many years and he’s always been very Professional each time we’ve worked together. He’s always willing to take that extra step to help me resolve any of the insurance issue’s that …More

Gary from BGES Group is by far the most responsive insurance broker i have ever met. He does an outstanding job with advising our small plumbing company on all the ins and outs of big insurance companies and he personally handles getting …More 

I’ve worked with Gary for a few years now for workers comp and I would recommend him to anyone needing a new agent. He is very easy to speak to, responsive and always provided great advice and customer service.

I have been working with Gary for over 10 years and find him to be one of the most professional, responsive, knowledgeable and hard working people in the business. You are making a mistake if you do not give BGES a shot at your business. You will not be disappointed!

Gary and his team are phenomenal, they care about every single client as if they would be the only client!

Gary Wallach is the best insurance broker out there. He has been in the business his entire life. I trust Gary completely. He is reliable knowledgeable courteous and responsive to any questions I have. I get my certificates of insurance within minutes after requesting them. Go with Gary and you will see how your business improves.

Gary was a tremendous help in provide information and explaining the details of the worker’s compensation and insurance options for my construction business. Gary is very knowledgeable, I highly recommend BGES Group Insurance. Give Gary a call, I’m confident he will take good care of you insurance needs.

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, Workers Compensation Insurance, Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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

Copyright © 2022

© – Copyright – 2022 – BGES Group

Get Back Up to $500,000 from Past Worker’s Compensation Companies!

Get Back Up to $500,000 from Past Worker’s Compensation Companies!  Savings Can Be Up to 40%!  This Is a True Win Situation for YOU, Nothing Less!

Examples of Refunds:

Large kitchen manufacture in NJ $500,000

Elevator company in NY $230,000

Structural steel in NY $150,000

Electrical contractor in NY $190,000

HVAC contractor in NJ $40,000

Plumbing contractor in NY $50,000

General contractor in NJ $300,000

Painter in NY $15,000

Workers’ compensation premiums can be a large portion of an overall insurance program, as well as a large percentage of operating costs. Most businesses aren’t aware that it is quite possible they are being overcharged for their workers’ comp premiums, without fault of their broker or even their insurance carrier.

The fact is, workers’ compensation insurance costs are a result of many different factors, which include but are not limited to: labor class codes, experience modifications, claims history, WC rating worksheets, loss cost multipliers, and several other factors.

Q & A:

We are insured with one of the State Fund’s safety groups. They review our policies. Why do we need your services?

In fact, a large percent of the savings we facilitated were for safety group policyholders.

We are already getting a discount from our carrier. What more is there for you to do?

Your workers compensation policy is multi-faceted. In addition to the discount, there are various other issues; such as, modifiers, classifications, pap credits, territory differential, as well as overcharges and fraudulent claims and reserves, which need to be taken into account. Though you are receiving a discount, your carrier may be overlooking some other issues.

I’m busy running my business and really don’t have extra time for this, how much of my time will I need to set aside to obtain these credits?

In most cases, there will be minimum time required from you. The work will be handled by our professional and experienced staff.

 

How far back can you change our policies and facilitate refunds?

That depends on the error we find, it ranges from one to seven years.

Bottom Line: What kind of premium savings are you talking about?

Savings can be as much as 40% of the annual Workers’ Compensation premiums.

We work on a contingency fee basis and only get paid if we get you back money!

There are NO up front fees!

There are NO gimmicks!

This is 100% legal!

We cover New York and New Jersey!

Associates Testimonials

Through your persistence and hard work you secured a refund on our policies that totaled over $150,000! The Workers Compensation manual rules are extremely complex. It is through your expertise and extensive knowledge of the rules, that we were able to recoup monies that were rightfully ours. As promised, your highly professional staff did most of the work and we reaped the benefits. This is a service that every business should sign up for. 

Thank you to you and your staff on a job well done! The process was simple, it did not require anything more than 3 documents signed on my behalf. The results were incredible! We received $34,355 in overpaid premiums, monies that would have never come back to us otherwise.

Thank you for the work your company performed on our behalf. Recently I received our mod revision check from the State Fund. With little effort by me you were able to revise our experience modification and I actually received money back from The State Insurance Fund!

Since 2002 your organization has been a valued partner. We appreciate your thoughtful and thorough approach to consistently reducing our worker’s compensation premiums. You have provided extended value to our donors and ticket buyers by reducing the administrative costs, which allow us to extend our mission.

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, Workers Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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

Protecting Your Firm as an Additional Insured

In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party’s insurance policies.

This is often done to make sure that your own insurance is not depleted by defense and indemnification costs for losses for which you may be legally liable as a result of the business relationship you have with the other party, and that are not due to your own firm’s direct negligence.

An additional insured is defined as an individual or entity that is not automatically included as an insured under the policy of another, but for whom the named insured’s policy provides a certain degree of protection.

When to opt for additional insured status


There are many instances when you may want your firm included as an additional insured on another’s policy. Here are just a few examples:

  • If you are a building owner, you want to be an additional insured on the property and general liability insurance of your tenants in case one of them damages your building or in the event that a visitor to the property is injured.
  • If you are the owner or a contractor on a construction project, you want to be an additional insured on the general liability insurance of your contractors and subcontractors in case there is an injury to one of their employees.
  • If you are a distributor or a retailer, you may want to be an additional insured on the insurance programs of the manufacturers of the products that you sell.
  • If a contractor comes onto your property to perform work of any type, including erecting displays or other maintenance or structural work, you will want to be named as an additional insured on their policy in case the display falls on someone, or someone is injured due to the work they are performing. You don’t want to be held responsible for any dangers or injuries created by the contractor’s work.

If you are to become an additional insured on another company’s policy, you need to confirm that the other party has indeed named your company as an additional insured with its insurance company. Their word alone is not good enough.

You should demand a copy of the policy that explicitly lists your company as such. You want to see a copy of the policy and not the certificate of insurance, which is not sufficient proof that your company has been added.

Additional insured status is effectively conferred through an additional insured endorsement to the other party’s original insurance policy. An endorsement essentially serves as an amendment to the terms of an insurance policy that is incorporated into the relevant insurance policy.

These amendments can take the form of an endorsement that specifically names a particular additional insured, or a general endorsement that identifies some class of parties as additional insureds.

But, if there is ever a dispute about your company’s status as an additional insured, you will want to have in hand not only the other party’s certificate of insurance, but also a copy of the policy itself and the endorsement that makes your company an additional insured.

Ensuring your status is properly secured

There are a few best practices that you can implement to help make certain your firm’s status as an additional insured has been properly secured:

  • At a minimum, always insist on receiving a copy of the relevant additional insured endorsement, as this is the instrument that establishes additional insured status;
  • An additional insured endorsement does not, however, state an insurance policy’s terms and conditions. In order to avoid being surprised by unexpected policy terms (such as strict notice requirement or unfavorable notice of cancellation provisions), you should ask for and receive a copy of the entire insurance policy under which you are an additional insured, and be sure to read it; and
  • Retain additional insured endorsements and the relevant insurance policies for as long as there is any potential that claims triggering those policies might be made.

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 60+ 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 – 2022 – BGES Group

Two Real-World Lawsuits and Lessons Learned for Contractors

Things go wrong on a regular basis on construction projects. That’s why contractor’s liability insurance exists – to protect everyone involved.

The policy holder is assured that an honest mistake or oversight will not destroy a thriving business, and the client and other stakeholders are assured that no matter what foreseeable event might come to pass, there is enough liquidity on the table to compensate them for damages incurred.

Contracts contribute to damages

There is the occasional straight-ahead case, but in most cases, determining a single party to be at fault is extremely difficult. Often, the actions or oversights of multiple parties create the conditions for damage to occur.

Even then, these conditions must sometimes be combined with an act of God to create an actionable claim. In some cases, the drafters of the contract itself can unwittingly push contractors into a corner where they are financially incentivized to make unsound decisions.

For example, in one case, according to construction and business research firm Longwoods.com, a general contractor hired a roofer to put a roof on a building.

The overall arrangement was a design-build contract that provided the general contractor with a bonus schedule based on meeting a series of completion milestones. But the contractor had to forfeit damages if construction ran behind schedule.

Bad weather hampered progress on the roof, and the roofing contractor recommended holding off on work until weather improved.

The general contractor insisted that work move forward. Furthermore, the general contractor was providing many of the roofing materials in the project.

The roofing materials were not fitting together well, however, and while both the general contractor and the subcontractor knew of leak problems, they weren’t able to fix the issue prior to the owner taking delivery. The building occupant later reported that “moisture damage” was in excess of $1 million.

So what happens now?

Well, the general contractor has liability for leak damage, sure. But perhaps something else caused the moisture damage.

What could have caused the damage?

Moisture damage could have been caused simply by the overall humidity and climate in the area. It could also be moisture wicking upward through the concrete from the ground.

The goods the occupant claimed were damaged could have already had damage, or the packaging could already have had significant moisture that then led to the damage.

Furthermore, at first glance, a roofing company should be assigned primary responsibility for its own roofs. Its work on the roof would be a more proximate cause to any faults in the end product, but in reality, there are externalities that mitigate the roofing company’s liability; the general contractor provided the faulty materials and ignored the recommendation of the subcontractor to halt work until weather improved.

The case is still in litigation, but among the lessons learned:

• Document your recommendations to change the method, timetable or scope of work, as well as any other party’s refusal to accept your recommendations.
• Don’t needlessly micromanage the operations of subcontractors if you can avoid it. Had the general contractor left it to the subcontractor to select the roofing materials, the general contractor may be held to a lower degree of culpability. The assumption, of course, is that the subcontractor knows more about roofing than the general contractor.

Don’t roll over too soon

In another case involving accusations of contractor negligence, a California homeowner accused a contractor of leaving her bathroom in an “unsafe condition.”

According to the plaintiff, the contractor’s negligence caused her to trip and fall, and caused her to break her foot and ankle, resulting in the need for multiple surgeries. She sued, claiming total damages of over $700,000.

The contractor didn’t roll over, though, and their counsel and their insurance carrier’s counsel insisted on checking on her background and claims and medical history.

Through this discovery process, the defendants tore the plaintiff’s claims apart. They found that the plaintiff had already experienced a similar injury. They also found that the plaintiff was partially at fault for the slip and fall. The case was settled in mediation for just $37,500.

The moral of the story: Don’t buy everything the plaintiff tells you, and don’t be quick to admit fault before you have spoken with an attorney.

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 60+ 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 – 2022 – BGES Group

Workers’ Comp May Not Adequately Protect Your Workers Anymore

No employer wants to see an employee hurt on the job. And all certainly want the existing workers compensation system to take good care of workers who are legitimately injured on the job, get them rehabilitated and returned to work quickly. In the meantime, nobody wants injured workers’ families to be driven to bankruptcy. After all, that’s what businesses pay those workers compensation insurance premiums for.

Unfortunately, workers compensation benefits are coming under increasing pressure in many states – and injured workers may face significant unreimbursed damages, even when they are receiving workers compensation benefits.

Here’s why:

States are coming under intense competitive pressure to attract businesses and employers. For many employers, workers compensation premiums are a key factor in where they locate. Some states impose much higher premiums on employers than others – and in turn provide more generous benefits to injured workers. Others, however, have been slashing benefits to workers in order to cut premiums to employers.

As a result, workers in some states are exposed not just to substantial workplace safety hazards in the course of their jobs, but they and their families are more exposed to the financial costs as well.

For example, according to a recent report from ProPublica, Oklahoma recently slashed its maximum workers compensation benefit from $801 per week to $561 per week. This is not adequate to sustain a lifestyle or make workers whole when many skilled blue-collar workers, with overtime and bonuses, are making $1,000 to $2,000 per week and more.

But Oklahoma is not alone: Benefits have been slashed in California, West Virginia, North Dakota, restricting benefits to two years, regardless of the injured workers’ medical condition or whether more medical treatment is needed. Florida, New York and Tennessee have all slashed benefits for certain workers by 20 percent or more.

Under workers compensation, employees cannot sue their employers for damages. They essentially give up the right to sue their employers in exchange for the promise of quick claim settlements. Otherwise injured workers would have to wait years for their lawsuits to be litigated – a crushing burden for the vast majority of working families.

The Solution

The problem isn’t going to go away any time soon. The cost pressures employers face are real, and there will continue to be downward pressure on benefits for the foreseeable future.

Employers can, however, help protect workers and their families efficiently and affordably by ensuring workplace benefits are up to snuff. For example, as workers compensation benefits are eroded, you may consider beefing up your long-term disability insurance benefits. Long-term disability provides an income to replace what an injured worker can’t earn anymore – up to a specific percentage of the workers’ pre-disability income.

Some employers provide this insurance for workers. Others make it available as a voluntary benefit, which costs employers little or nothing out of pocket. Workers can purchase their own coverage, and employers simply deduct the premium and forward it to the carrier.

Insurance bought this way is portable. Any premiums paid by the employer are deductible as employee compensation.

You may not be able to prevent every tragic workplace injury. But by increasing the available disability protection available to employees, you’ll be doing your part to make sure that their family doesn’t face economic devastation on top of the injury.

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 60+ 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 – 2022 – BGES Group