Architects, engineering firms, graphic design businesses and other service providers are increasingly being sued for alleged poor work quality, contract breach or missing deadlines — and jury awards are rising.

The costs of defending against a lawsuit of that type could quickly mount, even if you come out victorious in the end.

But a commercial general liability policy won’t help pay for your defense. You’ll specifically need a professional liability insurance to help cover the costs of litigation, settlements or judgments. Without a policy, the costs can quickly sink a small firm.

The unfunded lawsuit

Here’s a scenario that could leave you scrambling for funds. You run an engineering firm and a manufacturer sues your business after one of the machine parts that you designed failed, causing one of the client’s machines to seize up, resulting in $58,000 in damage to the machine and production downtime.

The lawsuit accuses your firm of negligence. Your business could be facing serious financial hardship as the suit asks for the cost of repairs and the lost production.

Here’s what you’re looking at:

• Attorneys’ fees — Depending on where you live, these can range from $150 to $400 an hour, or more if you go with a topflight law firm.

• Court expenses — Fees for copying, filing and other miscellaneous tasks all add up.

• Other legal fees — You may need to call expert witnesses, as well.

• Damages or settlements — Even if you try to reach a settlement with your client, they may opt to take the case to trial in hope of winning the full amount of the damages they are claiming.

You can see how the costs can quickly mount and if it gets to a damages or settlements stage, the costs will increase significantly.

You should know too that even if the case was frivolous, you’d still have to pay attorneys to defend it and file motions to have it tossed out of court. That alone could run you at least $5,000 in legal fees — a lot of money to pay out of pocket.

In fact, the U.S. Small Business Administration estimated in a recent study that legal costs for litigation ranged from $3,000 to $150,000, and only one-third of small business owners reported spending less than $10,000.

And there can be other fallout, as well. Perhaps word has gotten out about the lawsuit, damaging your reputation and ability to attract new clients and retain existing ones.

And if one client has sued, others who may have held off and had similar experiences could also file suit.

Professional liability insurance

A professional liability policy could have saved you from these significant expenses. The coverage, which is relatively inexpensive, is what’s known as “claims-made” coverage.

That means your policy must be active when the alleged incident occurred and when the claim is filed, in order to receive your benefits.

Client allegations that your work caused them a financial loss are often covered by a professional liability policy.

This type of insurance can cover errors and oversights with your work, as well as legal fees and the cost of settlements or judgments.

Cost: The average yearly cost of professional liability insurance for a small firm, regardless of the limits chosen or the industry of the business, was $985 in 2015, according to the Insurance Information Institute. The median was $758.

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 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

Businesses hit by wire transfer scams are increasingly finding it difficult to get their claims paid under their insurance policies unless they have either a crime or cyber insurance policy that covers “computer fraud.”

Wire fraud occurs when an employee is duped by someone posing in an e-mail as a company executive or trusted client into wiring funds into the fraudster’s account. Courts around the country have held that this type of fraud is covered under the computer fraud portion of policies, which is a big win for policyholders.

If you want to ensure that you are covered against this increasingly common crime, you should review your insurance policies, particularly if you have crime or cyber insurance. If you don’t have one these policies, you may be out of luck if your company has funds stolen in this manner.

How wire transfer fraud works

1. Criminals identify the individual in the company who can authorize a wire transfer, such as a senior manager or owner. They may also identify a person in one of the company’s trusted clients.

2. Once they know who can authorize a transfer, they will work to compromise their e-mail account through malware or other means so they can hijack it and send e-mails from it. Alternatively, they may set up an e-mail account with an address that closely resembles that of the authorized individual.

3. The scammers then use the e-mail account to send messages to employees and instruct them to wire funds to a designated account, and — poof — the money’s gone after the employee complies.

What the courts are saying

Courts have mostly found that computer fraud provisions under cyber and crime insurance policies cover this type of fraud, according to a recent blog by two partners at the law firm of Cohen Ziffer Frenchman & McKenna in New York. They noted that:

• In 2018 and 2019, the Second, Sixth and 11thS. District Courts all found in three separate cases that an insurer’s computer fraud coverage must pay for the losses of policyholders who have been hit by this type of crime.

The courts rejected insurers’ arguments the computer fraud portion of their policy was negated when employees took specific action to initiate the wire transfers.

• In 2022, the Ninth U.S. District Court found that a $200,000 loss suffered by a property management company was the result of computer fraud and was hence covered under two parts of their insurance policy: under the computer fraud and funds transfer fraud provisions.

• Also in 2022, the U.S. District Court in Alaska found that the city of Unalaska’s crime insurance policy’s computer crime and “impersonation fraud” provisions would both cover a $638,000 million loss the city suffered in a wire-transfer fraud event.

The insurer had contended that only the impersonation fraud coverage (which had a limit of only $100,000) applied and not computer crime coverage, which had a $1 million limit. The court disagreed and ordered that the insurer pay the entire claim of $638,000, minus the $25,000 deductible.

Cohen Ziffer writes: “The Unalaska decision represents a significant win for policyholders who seek coverage for wire fraud losses beyond their policy’s “social engineering” or “impersonation” coverages and reaffirms the long-held rule that these types of losses fall squarely within the “computer fraud” coverage provided by many crime and cyber policies.”

What you can do

If you have cyber insurance, you should sit down with us so we can help you review your policy to see if and how it would cover this type of attack. A policy may specifically cover wire transfer fraud under separate social engineering or impersonation fraud coverage, which often will have lower liability limits than the computer fraud portion of the policy.

Also, premiums have been rising quickly for cyber insurance and some insurers may scale back coverage for wire transfer fraud as these crimes grow. It’s doubly important that you know what your policies will cover. For some companies a robust cyber-crime policy may be enough.

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, Workers Compensation Insurance, 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes; 5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan. We represent many and know who offers excellent service.  

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

wire transfer insurance

Commercial insurance companies are raising rates in most of their lines to account for increasing claims as well as the cost of claims, but another factor is forcing them to increase their rates further: reinsurance.

When insurance companies underwrite policies, they will often not retain all of the risk. They will purchase reinsurance, which kicks in when claims reach what is considered a “catastrophic level.”

These global reinsurance giants have seen their profits erode substantially in the last few years due to the rising cost of natural catastrophes around the world, forcing them to increase what they charge insurance carriers.

These moves are trickling down into the primary insurance market in the form of further rate increases.

Property catastrophe reinsurance rates in the U.S. have risen by almost 15% in 2022 from the year prior, according to the Guy Carpenter U.S. Property Catastrophe Rate-on-Line Index.

Another report found that reinsurance rates for general and professional liability insurance has also been on the rise, averaging nearly 13% so far in 2022.

What’s happening

Reinsurance is a vital part of the insurance industry. It helps insurance companies pass on the cost of expensive claims by “ceding” — or paying — part of the premium you pay to the reinsurer. In exchange, the insurer agrees to take on the cost of claims. Insurance companies buy reinsurance for most lines of coverage including property, liability, workers’ comp and cyber insurance.

Reinsurers are taking steps to mitigate their exposure after being pummeled by a confluence of factors including:

• Increasingly large natural catastrophe claims payouts,

• Increasingly large jury awards in liability cases,

• Geopolitical uncertainty from the war in Ukraine,

• Liability payouts resulting from the COVID-19 pandemic,

• Skyrocketing inflation around the world, and

• Significant investment losses due to stock market volatility this year (reinsurers’ capital dropped by 11% in the first half of 2022 to $647 billion, hurt by financial market declines, according to broker Gallagher Re).

Reinsurers have responded in different ways:

Raising rates — A survey of insurance executives by Moody’s Investor Service predicts that reinsurance rates for property risks will increase between 7.5% and 10% at the Jan. 1, 2023 renewals.

Limiting capacity — Some reinsurers are pulling back and not taking on as much risk as they have in the past. They may limit exposure by capping the amount of policies or amount of coverage they are willing to underwrite. Some have pulled out of underwriting policies for properties in high-risk areas.

Increasing attachment points — Many reinsurers are raising the attachment point for coverage, which is essentially like your insurance company raising your deductible. That means the insurance company will be on the hook for a larger portion of claims costs. That in turn may prompt the insurer to raise its own rates.

What it means for you

When reinsurers raise both rates and their attachment points, it trickles down to primary policies such as yours.

This compounds the effects that higher claims costs are already having on commercial policies. There are signs that reinsurance rate hikes may accelerate in 2023. The insurance rating firm of A.M. Best Co. says that reinsurance rates have been lagging behind increases in primary insurance rates since 2018 and are now catching up.

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 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan. We represent many and know who offers excellent service.

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

Are you a New York contractor (we cover the tri-state area) who is sick and tired of getting hit with large rate increases every year?

We are “Construction Insurance Specialists,” started in 1981 and service the states of New York (Our Office is in Westchester County), New Jersey and Connecticut.

–> We just saved a New York contractor more than $50,000 on their Contractor Liability and Contractor Umbrella Liability policies.  They were paying $72,000 for their general liability.  We reduced it to $38,000.  They were paying $64,000 for their umbrella liability.  We reduced it to $23,000.

Here’s What We Can Offer You and We are All About Helping YOU:

1. Access to GREAT construction insurance programs

2. Premium savings of up to 40%+

3. Quality coverage

4. Expert advice from great construction insurance specialists

5. When you call, you’ll be treated like a $10 million dollar account…V.I.P.!

6. You’ll never having to wait on hold when you call

7. Quick turn around for certificates

8. Quick response to emails

9. Quick response to texts

• We can help you screen subs insurance

• We can help screen your client’s insurance requirements

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.

About Other Agencies:

1. A lot of agencies have become too big for their bridges

2. They have constant employee turnover

3. Most account executives rarely market client’s accounts

4. They wait till the last minute to give you your renewal quotes

5. Their employees work like “Sleppers” and take their time getting you what you need

6. It’s hard to get someone on the phone

7. You may have an account executive who has a bad attitude

8. A lot of account executives have so much work they can’t service your account properly. For example, does anyone ever make a coverage recommendation?

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.

About The BGES Group:

1. We offer boutique service

2. We have book smarts

3. We have street smarts

4. We have incredible marketing and pricing leverage with companies

5. We know which companies best fit your needs

6. We fight every renewal so you pay the least amount possible and get the best coverage for your money

7. We don’t sell crap

8. We are very trustworthy

9. We are very reliable

• You want to work with someone whose always helpful and there for YOU? Whose one of the most reliable people you’ll ever want to deal with? Who when they say something they do what they say?

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.

These days it’s a good idea to be aligned with smart, reliable, non flaky, always pleasant, street fighters who are honest, decent people and who know what they’re doing and care about YOU the client.

Note: A lot of agencies have been acquired by others and have turned into factories with people revolving in and out their doors.  In our opinion, they are “Hazardous to Your Wealth!”

CONTRACTOR ALERT!  Looking for a Pay As You Go Workers’ Compensation Program with no annual audit?  If you have experienced a terrible audit, try our market that will take away this headache!  Call Gary at 914-806-5853 and get a quote today!

Here’s What People Have to Say About Us:

Sarah S.

Gary is a considerate and honest guy. I have nothing but respect for him and 5 stars isn’t enough.

Nick S.

Over 20 years of excellent relationship that has met all our insurance needs.

Steve S.

My previous Workers Comp insurer was always trying to reclassify employees to put them in higher risk groups to raise the premium (despite no claims in over 5 years). Broker at the time wasn’t helping. Gary was recommended by a friend and did a phenomenal job. Found new insurer for less money who then, a year later, further reduced premium after the audit! I’m now paying 40% less than I used to and only 1/4 of what my old insurer wanted to jack the rate to.

SANJA C.

Gary is a great, responsible, professional…someone you can rely on. I would highly recommend him.

George K.

Since I transferred my insurance policy to BGES Group I have saved a lot on the rates and service is a first class. Always get immediate response to all my needs. It’s a A Plus from me.

Elena E.

My broker, Gary Wallach, is the BEST!  He’s professional and a pleasure to deal with. Always has the answers for me and is quick to respond to my emails and phone calls. This is one reason I remain a loyal BGES Group customer. Good Rates on all my insurance needs too!

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, Workers Compensation Insurance, 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

A recent study has found that injured workers are often left feeling frustrated and fending for themselves after they file a workers’ compensation claim.

The survey of injured workers by researchers at the University of Waterloo in Ontario, Canada found that workers reacted in a number of ways when experiencing “procedural” unfairness, frustration in how their claim is being handled, or poor communications from their claims adjuster or employer. Some give up, some react confrontationally, others quit.

The study confirms what other studies have shown: Employers need to be actively involved in helping workers navigate the workers’ comp system, keep in touch with them to lend assistance and provide support, including a feasible return-to-work program.

Otherwise, they risk having a disgruntled injured worker who may take longer to recover or secure the services of a lawyer. And once lawyers enter the picture, the more likely it is that their injury will drag out and the cost of the claim will increase substantially.

The claims process can be confusing and unfair to injured workers. The amount of money they receive when they are not working and on the mend is less than their paycheck, and poor communications often leave them languishing and wondering when they can return to work.

Negative feelings

Many claimants have a number of negative emotions when embroiled in the workers’ comp claims process, including feeling:

• Confused,

• Angry,

• Frustrated,

• Unsupported,

• Abandoned

• Disappointed, and

• Wary.

Others did report some positive emotions, including determination and optimism.

Issues that caused negative feelings include:

• Uncertainty about how to access work compensation programs.

• Reluctance to speak up about their claim for fear of losing their jobs.

• Not receiving adequate modified work so they can return to work early.

• Receiving inadequate medical care.

• Their employer trying to suppress the claim.

• Unresponsive claims adjusters.

What you can do

Throughout the recovery process, communication is the key. Maintaining contact with your employee and keeping in touch with the attending physician about available work will help reduce anxiety about returning to work.

For many workers that may mean modified work with restriction to avoid reinjury. You may also consider having them work from home, if feasible.

Encourage an injured employee to follow through with recommended care to avoid long-term complications whenever possible.

If your worker is not getting a response from their claims adjuster, offer to assist them.

Check in with your worker regularly and let them know their colleagues miss them and are hoping they’ll soon be back on the job.

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, Workers Compensation Insurance, 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation insurance, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

As a result of the significant damage in Southwest Florida caused by Hurricane Ian, many tri-state contractors will be assisting with storm clean-up and repairs.

Please note the State of Florida does not recognize the “ All States  Endorsement” on  Workers’ Compensation policies, so to protect your interests, if you decide to work in Florida, YOUR Workers’ Compensation policy needs to be endorsed to specifically include the state of Florida.

If you have coverage through a state plan, coverage cannot be extended to cover Florida for weeks or months at a time.  Therefore, you will need a policy that can cover both states or a new policy to cover just Florida.  The only issue you may have is both Workers’ Compensation companies picking up the same payrolls.   Check with your insurance companies as to what documents they need to avoid this from happening.

We have a Workers’ Compensation program to cover you in both states.

To ensure that you are adequately covered under your Workers’ Compensation policy, Florida will need to be added to section 3A of the policy.

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, Workers Compensation Insurance, 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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 

—> We just saved an upstate demolition contractor $30,000+ on their General and Umbrella Liability coverage.  They were paying $100,000+, our quote $61,000+ (with umbrella)!

—> We represent a new program that if we can get you into, can save you a lot of money and better your coverage too!  Call 914-806-5853 and get a quote today!

–>  Looking for a Pay As You Go Workers’ Compensation Program with no annual audit?  If you have experienced a terrible audit, try our market that will take away this headache!  Call Gary at 914-806-5853 and get a quote today!

Does Your General & Umbrella Liability Policies Have:

1. High rates

2. Coverage problems with customers

3. Height restrictions

4. Subcontractor restrictions

5. Labor Law and employee injury exclusions

6. Strict restrictions on type of work you can perform

7. Strict restrictions on residential or commercial work you can perform

8. Exterior work restrictions

Would you Like a Liability Policy That:

1. Coverage is accepted by most if not all customers

2. Has no height endorsement

3. Covers subcontractors without strict conditions

4. Covers “Contractual Liability” properly

5. Covers “Additional Insured’s” properly

6. Certificates are usually issued in an hour or less

BGES Group are New York Construction Insurance Specialists.  We have 50+ insurance companies to market your account to.  We have programs that if we can fit you into one, offer “Great Coverage,” “Great Rates,” Great Service” and “Great Advice” from a “Construction Insurance Specialists!”  Our new program can save you a ton of money and better your coverage too!

Here’s What People Have to Say About Us:

Sarah S.

Gary is a considerate and honest guy. I have nothing but respect for him and 5 stars isn’t enough.

Nick S.

Over 20 years of excellent relationship that has met all our insurance needs.

Steve S.

My previous Workers Comp insurer was always trying to reclassify employees to put them in higher risk groups to raise the premium (despite no claims in over 5 years). Broker at the time wasn’t helping. Gary was recommended by a friend and did a phenomenal job. Found new insurer for less money who then, a year later, further reduced premium after the audit! I’m now paying 40% less than I used to and only 1/4 of what my old insurer wanted to jack the rate to.

SANJA C.

Gary is a great, responsible, professional…someone you can rely on. I would highly recommend him.

George K.

Since I transferred my insurance policy to BGES Group I have saved a lot on the rates and service is a first class. Always get immediate response to all my needs. It’s a A Plus from me.

Elena E.

My broker, Gary Wallach, is the BEST!  He’s professional and a pleasure to deal with. Always has the answers for me and is quick to respond to my emails and phone calls. This is one reason I remain a loyal BGES Group customer. Good Rates on all my insurance needs too!

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, Workers Compensation Insurance, 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 50+ insurance companies to market your contractor general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

A new survey has found that most small businesses greatly underestimate the recovery costs after a company is hit by a cyber attack, as well as the time it takes to recover.

Nationwide Insurance’s “Agency Forward” survey found that 40% of small business owners estimate that a cyber attack would cost their organization less than $1,000, and 60% said it would take less than three months to fully recover. Those are significant underestimates, and it reflects how little most owners know about the true effects of these increasingly sophisticated attacks.

The rose-colored view is complicated by the fact that small businesses are now the main target of cyber attacks, particularly those involving ransomware. As a result, many companies are not taking the appropriate steps to guard against attacks, and may also forgo securing cyber insurance.

And that can be a mistake as the average cost of a cyber-attack claim is between $15,000 and $25,000, according to Nationwide. Additionally, the average recovery time for a business after an event is 279 days, according to the insurer. But many never recover. Most small businesses fail within six months of an attack.

Nationwide found that about 28% of small business owners said they have cyber coverage, compared to 71% of middle-market businesses.

Cyber-attack costs can mount quickly. After an attack and assessing the damage, a business may be faced with a number of expenses for:

• Systems and operational recovery,

• Data restoration,

• Addressing reputational damage, and

• Legal costs.

Worse yet, most small companies have not installed safeguards to protect against attacks. The survey found that:

• Only 48% of small business owners said they felt prepared to prevent a cyber attack (compared to 83% of mid-sized firms).

• 56% said they conducted cyber-security training at least once a year (94% of mid-sized firms hold training).

Protection against attacks

Malware is the largest threat, with the small business sector accounting for 50 to 70% of attacks. Malware is software — such as viruses and ransomware — intentionally designed to cause disruption and damage to a computer or network, or to gain unauthorized access to private information.

You can thwart the criminals by:

Educating your employees — Regularly update your staff on new security protocols. The more your employees know about cyber attacks and how to protect your data, the safer your business will be. Send out regular reminders not to open attachments or click on links in e-mails from people they don’t know or expect.

Implementing safe-password practices — Have employees use complicated passwords and change them regularly every 60 to 90 days.

Using robust security platforms and protocols — That includes installing web application firewalls and using secure payment gateways if you accept credit cards online. Your website hosting company should regularly patch security vulnerabilities, and you should ensure that all computers have antivirus software installed.

Regularly backing up all data — That includes databases, financial files, human resources files and accounts receivable and payable files.

Cyber insurance

Even with the protections in place, companies still can suffer an attack. If it’s a ransomware attack, your systems may be unusable until the ransom is paid.

Fortunately, cyber insurance can help pay for the costs associated with an attack, including expenses related to recovery, lawsuits and ransoms. Coverage will differ from one carrier to another, so it pays to call us to discuss your options.

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 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

Here’s What We Can Offer YOU:

1. Since we’ve been New York Workers’ Compensation Specialists since 1981, we represent major companies in the tri-state area.  We know pricing, coverage and which companies are good fits for your business. We take the hassle out of getting coverage.

2. Immediate help when you call.  Dial 914-806-5853 and we answer Monday through Sunday 6:30 AM till 10 PM.  No more leaving messages, being placed on hold or dealing with inexperienced customer service representatives. With us, you ALWAYS deal with our #1 expert.

3. We are encyclopedias of knowledge.  We know all areas including coverage, companies, pricing, billing and claims.  Whatever your concerns, we can help.

4. Sick of waiting for certificates?  We process them in 5 minutes or less.

5. We offer boutique service.  We treat everyone like $10 million dollar accounts.  You’ll deal with a smart, pleasant, helpful, responsible, trustworthy person who when you call, HELPS!

6. Looking to get away from BRUTAL Workers Compensation audits?  We have a way for you to do so.

7.  We have special programs for the following industries:

1. 1. Auto Service

   2. Construction – We have great programs for New York contractors (we cover the tri-state area).  We have programs for Asbestos, Demolition and Roofing contractors too.

   3. Limousine Service

   4. Manufacturers

   5. Local and Long Haul Trucking

   6. Any company that falls into Logistics

Problems We Can Help You With:

1. Pricing

2. Getting you a new policy

3. Getting you a new policy if you are a new business or been without coverage for a while

4. Being cancelled or non renewed

5. Poor loss experience – We can help you find a new company

6. Feel you’ve overpaid on your past policies?  We can help you get your money back (we can go back up to 7 years)

7. Getting you a company that does not do invasive, annual audits

8. Operating in multiple states (If you are in a state program, you may not have the right coverage)

9. Setting up your policy on a “Pay as You Go” basis

10. Eliminating annual deposits

11. Looking for a payroll/workers compensation plan?  We represent several

12. Eliminating 10% service fees or $500 to $2,500 policy fees

13. Whatever your problem, we can help!

If you “Google Review” us, you’ll see we have 71 5 Star reviews.  Listed below are what the last 6 people have to say.

Sarah S.

Gary is a considerate and honest guy. I have nothing but respect for him and 5 stars isn’t enough.

Nick S.

Over 20 years of excellent relationship that has met all our insurance needs.

Like

Steve S.

My previous Workers Comp insurer was always trying to reclassify employees to put them in higher risk groups to raise the premium (despite no claims in over 5 years). Broker at the time wasn’t helping. Gary was recommended by a friend and did a phenomenal job. Found new insurer for less money who then, a year later, further reduced premium after the audit! I’m now paying 40% less than I used to and only 1/4 of what my old insurer wanted to jack the rate to.

SANJA C.

Gary is a great, responsible, professional…someone you can rely on. I would highly recommend him.

George K.

Since I transferred my insurance policy to BGES Group I have saved a lot on the rates and service is a first class. Always get immediate response to all my needs. It’s a A Plus from me.

Elena E.

My broker, Gary Wallach, is the BEST!  He’s professional and a pleasure to deal with. Always has the answers for me and is quick to respond to my emails and phone calls. This is one reason I remain a loyal BGES Group customer. Good Rates on all my insurance needs too!

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, Workers Compensation Insurance, 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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We can help contractors set up proper risk transfer. We offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening and numerous 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 money; 2) Finding a new company; 3) Replacing coverage when you are being cancelled or non renewed; 4) Workers Compensation Audit disputes;  5) Lowering high experience modifications factors; 6) Misclassification of payrolls; 7) Lowering or eliminating renewal deposits;  8) Getting coverage when you’ve been without for a few months; 9) Covering multiple states under one policy; 10) Eliminating 10% service or policy fees; 11) Timely issuance of certificates; 12) Always being able to get someone on the phone when you need to; 13. Finding you a new payroll/workers compensation plan.  We represent many and know who offers excellent service.

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

Office and commercial building vacancies have exploded since the COVID-19 pandemic hit, leaving many buildings completely empty of tenants or partially occupied.

According to the website Statista.com, the average vacancy rate for offices nationwide in the first quarter of 2022 was 12.3%, which is an improvement from 17.4% in the first quarter of 2021.

Unfortunately, when buildings stand vacant they become susceptible to a variety of problems. Vacant properties receive little or no maintenance, attention or security. This can lead to costly problems and loss of insurance coverage.

The dangers

There are roughly 31,000 fires in vacant buildings annually, resulting in dozens of deaths, hundreds of firefighter injuries, and an average $642 million in property damage.

When vacant buildings receive little or no attention or security, it can lead to problems such as:

• They become a target for vandals. Vacant buildings can wind up with broken windows and graffiti-covered walls.

• Fixtures and materials inside the building, such as copper piping, may attract thieves.

• They can become convenient hangouts for young people or shelters for the homeless; they also can become centers of criminal activity, such as drug-dealing.

• Trespassers smoking on the premises, decayed wiring, arson, and production of illegal drugs like methamphetamines may cause fires in vacant buildings. In addition, automatic sprinkler systems may be shut off, allowing fires to spread, and lack of security prevents early detection.

• Toxic substances remaining on the premises may leak and contaminate soil and groundwater.

Insurance implications

If a building is actively occupied and someone conducts business there, the risks of vandalism and what insurers term “malicious mischief” against that property are relatively low. But if nothing is going on in the building, then it’s an invitation for vandalism and malicious mischief.

In response, property insurance policies typically state that if a building is vacant or unoccupied for a certain period — typically 30 or 60 days — then the policy won’t cover certain losses, such as damage done to the building by vandalism and malicious mischief. In some cases, the policy may be cancelled if it’s vacant for a certain period of time.

If you are faced with the possibility that one of your properties is going to suddenly be vacant, you should take a look at your property insurance policy to see if it has a vacancy exclusion and if so, what it says. Some levels of vacancy may be acceptable in some policies.

If the building will stay vacant or unoccupied, you should notify the insurance carrier. That notice will probably lead to a repricing of the coverage, but the insurer may also change or cancel the coverage.

For example, if a building is largely vacant, the standard commercial property insurance policy reduces loss payments by 15% for most causes of loss and will not cover some specific losses, such as:

• Vandalism,

• Water damage,

• Fire,

• Glass breakage, and

• Theft.

If you have concerns about a vacant property and what your next step should be, feel free to call us.

Protecting your property

Finally, besides revisiting your coverage, you should also take steps to protect the property:

• Visit the property at least weekly, or hire a property management company to do so.

• Clear the exterior of the building of scrap wood, paper, cardboard and brush.

• Remove any toxic substances that could contaminate the area or harm police or firefighters.

• Maintain sidewalks and parking areas in good condition and clear them of snow and ice.

• Erect obstacles to keep vehicles and pedestrians out of parking areas.

• Hire security guards to watch the building at night, and have exterior lighting turned on.

• Maintain heat or drain the plumbing system to keep pipes from bursting, but keep at least a minimum temperature in areas protected by automatic sprinkler systems.

• Maintain electricity supply to emergency lighting and exit signs.

• Shut off utilities, except where necessary to power desired lighting and alarm systems.

• Maintain fire detection systems and link them to a central station monitoring service.

A vacant building is never a good situation, but with the proper precautions, the owner can maintain its value and keep it secure until new tenants move in.

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 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 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 – 2022 – BGES Group

Insuring vacant buildings