Workers’ compensation is designed as a trade off between the interests of employers and injured employees. In most circumstances, employers receive immunity from lawsuits by workers who are injured on the job or the survivors of those who are killed in work related events. In return, injured workers are not forced into an unpredictable system of lawsuits with long waiting periods for damages and no guarantee of compensation. They receive medical expenses and compensation for lost wages, or when work-related injuries or disease lead to death. Benefits are guaranteed to the worker’s survivors.

For the most part, the system works just as it was designed. There are a few exceptions, however, when courts allow workers who have on-the-job injuries or occupational disease, or their survivors, to pierce the employer’s immunity and file a personal injury lawsuit. As workers’ compensation is a matter of state law, the rules as to when courts permit these lawsuits will vary somewhat from state to state. Most importantly, they will be based on the unique facts of each case. Nevertheless, there are general circumstances that make courts more likely to find in favor of an injured worker, or his or her survivors.

The key issue the courts usually consider is whether the employer intentionally created a situation that would be, in the words of one court, “substantially certain” to lead to a worker’s injury or death. On this basis, an Oregon court held that an employer could lose its workers’ comp immunity by ordering an employee to perform a task that the employer knows is unreasonably dangerous, such as doing work without safety equipment, and thus is substantially certain to cause injury.

If evidence exists verifying the employer knew it was substantially certain employees could be seriously injured or killed, and then deliberately concealed the information from them, the courts are even more likely to permit an injured employee to sue. This is what happened with companies that manufactured or installed asbestos. Ordinarily, workers’ compensation would have been the employees’ exclusive remedy for lung disease and cancer caused by working with asbestos. But in some instances, workers were able to show that the employers had known about the diseases and nevertheless told them there was little risk or need for safety precautions.

In another example, a Florida employer occasionally and deliberately shut off a workplace ventilation system and misrepresented the potential harm of toxic fumes and the need for safety equipment. The court ruled that due to the employer’s deliberate misrepresentation, injured employees were not limited to workers’ compensation as their exclusive remedy, but could also sue. Similarly, a New Jersey court held that an employer lost the exclusive remedy protection of workers’ comp when it removed the warning labels and safety devices from machinery.

Liability for concealment of risks can even be based on an employee’s inability to read or understand warning labels or safety instructions, according to a South Dakota court. The court’s ruling held that if the employer does not clearly explain the hazards and safety precautions so that the employees understand them, it might lose workers’ comp immunity.

In certain cases, the employer can protect itself if it can show the worker fully understood the risks and decided to do the job anyway. In one case, a widow sued the employer after her spouse fell to his death on a construction job, arguing that the numerous citations the employer had received for failure to provide guard rails showed that the employer should be liable for her husband’s death. But a Florida appeals court rejected her claim, finding that the danger of working on an elevated construction site without a guardrail was, or should have been, obvious to an employee. Therefore, the deceased had chosen to accept the risk and the widow’s exclusive remedy was workers’ compensation benefits.

However, not all risks are obvious, and where they are not, courts are likely to find that the employer has a better understanding of the risks than the employee.

There is one other situation that almost always exposes the employer to potential lawsuits by injured employees: failure to maintain workers’ compensation insurance. If the employer doesn’t have insurance, injured workers or the survivors of those who die from job-related injuries have no barrier to filing a lawsuit, which can be a very costly proposition.

We can help you identify and manage potential risks, which may not be covered by your workers’ comp policy. Give us a call today for more information.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

Workers’ compensation insurance can be a large cost center for a business, and if your employees are regularly injured on the job those costs can quickly become a financial burden, even in this period of low rates.

Companies in industries with high rates of workplace injuries are especially vulnerable, particularly if an employee suffers permanently disabling injuries, or worse. But even a relatively safe business can see its premiums surge if it has a few costly claims.

Fortunately, employers can take steps to get a better handle on their workers’ compensation costs.

While the steps look easy on paper, they require management buy-in, a focus on preventing injuries and getting injured workers healed and back on the job. Here are three things that employers can do to better control their workers’ comp costs.

1. Focus on accident prevention

There are as many ways to keep a safe workplace as there are workplaces. However, certain components of a safety strategy are universal:

• Keep workspaces clean and free from clutter. Slips and falls can happen in an office, a factory or warehouse floor, a store or a construction site. Post warnings of slippery surfaces and immediately clean up spills. Ensure your floors are clear of power cords and computer cables. Don’t obstruct walkways and keep all work areas free from tripping hazards.

• Keep equipment in good condition. This is especially important on construction sites, where injuries can be particularly severe. Ladders, tools, power equipment and other materials should be maintained, in order to minimize the risk of injury.

• Provide appropriate protective equipment. This varies depending on the workplace. Workers should wear gloves and hard hats on construction sites, burn protection and slip-resistant shoes in restaurants, masks and gloves in medical offices, and so on.

• Train workers on safety. Make sure they know how to safely perform their tasks. Do this during new employee orientation and hold regular safety training or tailgate meetings. The more hazardous the work environment, the more frequent training you’ll need to provide. All workplaces where frequent injuries are occurring should also have them.

• Create a safety culture. Model safe work practices and let employees know they are expected to do likewise. Recognize and reward safe practices, but don’t discourage or retaliate against employees if they file a claim.

2. Limit claims costs

Ensure that the injured employee gets prompt medical attention. Be proactive and stay in contact with your worker and your carrier throughout the duration of the claim. Also, be sure to complete all required documentation in a timely manner to avoid unnecessary delays in the claims process.

Ask for second opinions on expensive surgeries or treatments. Have in place a return-to-work program to allow injured employees to work in lighter-duty roles until they are healthy enough to resume regular work.

3. Keep detailed employee records

Documentation is extremely important in workers’ compensation, the costs of which are based the number of employees, how much each of them are paid and what kind of work each worker performs.

You’ll need to keep detailed and accurate payroll records to back up the numbers you submit to your insurance company. If you don’t, they’ll find them through the regular audits they conduct and if you underreported, they’ll ask for additional premium.

Example: Suppose a business has 10 employees, with eight of them doing hazardous work and two of them administrative employees. Without records segregating the payroll of the clerical workers from the others, the insurer will assign the high-hazard classification to all 10 employees, forcing the business to pay more than necessary.

The takeaway

Workers’ compensation ensures that injured employees have a reliable and speedy source of funds to replace lost income, and that the medical expenses for their industrial injury or illness are covered.

Employers who don’t keep safe workplaces, are not engaged in their workers’ claims and keep sloppy records, end up paying more for coverage. Those that do the opposite, don’t.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are there and will help you!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

BGES Group offers all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

Go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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.

With the COVID-19 pandemic appearing to be behind us, employers that had allowed their staff to work remotely have been bringing them back to the office, but some firms have faced resistance and even lawsuits by employees who prefer to continue working from home.

Career assistance website Zippia reports that two-thirds of Americans are working remotely at least part-time, 92% work remotely at least one day per week, and 68% of workers would like to be remote full-time.

Many companies, rather than requiring staff to be back in the office five days a week, have adopted a so-called “hybrid” working model, where employees work on-site some days and remotely other days. Some may also permit selected employees to work remotely, while not allowing others to do so.

As an employer, you have the right to set your own work policies, which may include when and where people work. Some employers that have received pushback from employees, have threatened them with termination on grounds of job abandonment if they do not comply.

Still, even if it’s within your right, you could still face an employment practices lawsuit that includes allegations of:

Charges of bias and discrimination — Companies that treat different employees differently are vulnerable to discrimination claims. If the boss lets Jane work from home two days a week but doesn’t give Joanne the same ability, Joanne could see that as discrimination, especially if she is a member of a protected class (race, age, disability, etc.).

ADA issues — Some workers who are at higher risk of getting seriously ill or dying if they contract COVID-19, may file an Americans with Disabilities Act discrimination claim against their employer if forced to return to the office.

As with all workers who request accommodations for their disability, the employer is required to enter an interactive process with them to try to find a solution. Ignoring this important step can put you in a difficult position if sued.

Wrongful termination — Employers occasionally experience layoffs. If the bulk of people let go are also those who work remotely, they may believe they have been singled out and could sue.

Failure to promote — Similarly, if managers tend to promote those who are in the office every day instead of those who work remotely, discrimination lawsuits could result.

Other risks

Another issue that could pose problems is in the workers’ compensation insurance space. When employees work off-site, you lose all control over the physical environment. Some workers may be neat freaks who leave their work areas pristine, while others may be comfortable with clutter, dogs and cats.

Generally, an employee is covered under their employer’s workers’ comp insurance if they are injured while working from home, so long as they meet their burden of proving that the injury was work-related. If you are suspicious that the claim is fraudulent and your insurer agrees, the cost of the claim could skyrocket if the worker secures an applicant’s attorney to fight the claim rejection.

Also, employers lose some control over cyber-security risk management. This can be mitigated somewhat by clearly communicating policies about using secure methods when using the internet on company business.

How you can protect your business

There are steps businesses can take to reduce their risks:

Get expert help — Consult with human resources professionals or attorneys who specialize in labor and employment law. They can advise on industry best practices and relevant provisions to add to employee handbooks.

Update your handbook — Even if you do not hire an expert, updating your employee handbook is advisable if it has not been done since before 2020. Your workplace has changed in the last four years; your handbook should change along with it.

Buy employment practices liability insurance — If your business does not currently have this vital coverage, the time to get it is now. If you already have it, work with your insurance agent to make sure that the amounts of insurance and the policy provisions meet your needs.

You rely on the skills and talents of your staff to execute your mission. Keeping them happy while protecting your business is a tricky balance, but it is one you must find a way to strike.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

The stakes for companies who have been hacked are growing with each passing year, and the most common way a business’s database and vital information is exposed is due to employees clicking on malicious e-mail links.

Many attempts to get employees to open and click on dangerous links are crude and easily detectable. But cyber criminals have grown sophisticated and have started employing subject lines and content in the body of their phishing e-mails that looks legitimate enough.

The first line of defense for all organizations is their employees and all it takes is for one of them to click a link in a phishing e-mail that can expose their company to a host of cyber attacks, such as business e-mail compromise and ransomware attacks.

Many of these e-mails recycle the same subject lines again and again, and a recent report by KnowBe4, a cyber security training firm, found that 40% of phishing e-mail subject lines are human resources-related. Also, the body of the e-mail often creates a sense of urgency for the targeted worker to act quickly.

Danger signs

You can train your staff to beware if they receive an e-mail with one of these most common subject lines:

• HR: Vacation Policy Update

• HR: Important: Dress Code Changes

• Password Check Required Immediately

• HR: Your performance evaluation is due

• Weekly Performance Report

• LinkedIn: Who’s searching for you online?

• IT: Internet Report

• HR: Please update W4 for file

• Acknowledge Your Appraisal

• Employee Expense Reimbursement for [[e-mail]]

And the following are the most common bogus e-mail subjects that employees reported to their superiors as suspicious:

• Equipment and Software Update

• Mail Notification: You have 5 Encrypted Messages

• Amazon: Amazon – delayed shipping

• Google: Password Expiration Notice

• Action required: Your payment was declined

• Wells Fargo: Transfer Completed

• DocuSign: Please review and sign your document

• IT: IT Satisfaction Survey

• Zoom: [[manager name]] has sent you a message via Zoom Message Portal

• Microsoft: Microsoft account security code

Phishing e-mails are also growing more difficult to detect. According to KnowBe4, besides real-looking subject lines, cyber criminals will employ different techniques to lend legitimacy to their e-mails, including:

Spoofing the company’s domain — These e-mails appear to come from the user’s domain, either because someone has spoofed the domain or uses one that is almost identical to the company’s domain.

Branded  — The e-mail body includes the employer’s logo, name and address.

Credentials landing page — A phishing link directs the employee to a data entry or log-in landing page that mimics their employer’s page by using the company’s logo, colors and images.

Most of these e-mails will launch malicious code if the recipient either clicks on a link or opens an attached file, typically a pdf.

Training is paramount

When criminals target an organization for attack, they will often start by doing a deep search online for employees’ e-mail addresses. Sometimes companies will have nearly everyone one of their employees’ e-mail addresses on their website. The more workers a company has, the more susceptible they are to attack.

According to KnowBe4, once they have those e-mails they can start sending the employees e-mails that “supposedly coming from Human Resources, the CEO or perhaps the mail room, and social engineer your users to click on a link.

Besides firewalls and other safety protocols, you should prioritize training your staff to detect and report any suspicious e-mails. First and foremost, they should avoid clicking on links or opening attachments unless they are sure that the e-mail is from a trusted source.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

Insurance concept, Businessman holding red umbrella on falling rain with protect with icon business, health, financial, life, family, accident and logistics insurance on city background

As businesses use more and more devices in their operations, their vulnerability to cyber attacks increases exponentially.

Some employees may have a work smartphone, a laptop for the road and a desktop unit for when they work in the office. And there may be other systems and assets that are connected to the company network and the internet.

That’s why it’s important for all organizations to have a thorough inventory of everything that may be connected to their network. Every device is essentially another door for hackers to exploit.

Not only that, but you likely subscribe to multiple cloud services, which can also be used to gain entry into your database.

If you don’t have a full accounting of all your connected devices and services, you leave your business exposed to a cyber attack. You may be slow to detect an attack, as well — and the longer you wait to respond, the more damage the hackers can cause.

To protect your organization, you can start by making a list of all of the following that may be connected to your network and the internet:

• Computers and other hardware

• Software

• Devices like smartphones and tablets

• Data

• Cloud services like storage and accounting systems

• Internet of Things devices

• Industrial IoT devices.

Once you have a full inventory of the above, you can take steps to secure them and set up each device and service for monitoring. For example, you can ensure that each service and device is up to date on its latest security updates and patches.

Obstacles

It may seem like a simple task to put your list together, but it’s important to understand the factors that can result in gaps, such as:

Employee turnover — If you are not thorough and fail to retrieve all of the devices a former employee was assigned, you may have items out there that still have access to your network.

Also, if you allow employees to use their own devices, you’ll need to take steps to ensure they can’t access your database after they leave. Additionally, failing to disable an outgoing employee’s accounts also leaves you vulnerable to a possible attack.

Remote work — With more employees working from home, more company-owned devices are away from the office. And you may not know who is accessing your system from those devices.

Additionally, remote workers are more likely to connect to an unsecured network and send company data to their personal e-mail, computer or smartphone.

Lack of resources — Many companies may not have the personnel or the time to monitor and analyze each device and service they have out there. And some tools for monitoring devices can be expensive.

What you can do

The most straightforward way to keep track of a business’s network devices is to do it manually, but this is only an option for small firms that don’t have many connected items. Walk around the office and take note of each device that is on the network.

You’ll know too which employees have company smartphones or which ones are connecting to your database using their own phones.

The main benefit to manually managing network devices is that you get to save money, but it can often get tedious. If you want to check the detailed status of a network device, then you’ll have to do so directly through the computer that it is connected to.

Larger firms with multiple devices and accounts can use software that monitors all connected devices. The software will regularly scan all of devices connected to the organization’s network and will catalog all of them. This can be extremely efficient for companies that have many items connected to the networks.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

It might be hard to fathom any type of audit being beneficial, but when your insurer conducts a premium audit for your account, it can just as important to you as it is to your carrier.

When you were first issued your policy, the carrier looked at the estimated sales figures or payroll data that you provided to them. It calculated your premiums based on this information. Now that you have real numbers under your belt and actual experience, the information can be reassessed to determine the correct premium amount.

Depending on how your business operates and the size of your policy, there are several methods your insurance carrier can use to conduct your premium audit, including:

Mail — Your insurer will mail you an audit form and the instructions to complete it. Once completed, you will return the form by mail to your carrier.

Phone — Your carrier will hire an independent audit company to conduct your audit over the phone.

Physical — Your insurance company will usually conduct the audit at your business, but it could be conducted at an alternative location, such as your certified public accountant’s office.

Regardless of the method, the audit will typically include your disbursements and payroll journals, ledgers, tax and Social Security reports, state unemployment forms, and other accounting records being inspected. Depending on the audit, other documents could be involved.

The data is then used for determining and adjusting premium amounts (either higher or lower). If it’s higher, you may be asked to pay back premium for the months that you underpaid for coverage.

Be prepared

The best way to handle these audits is to be prepared, and that means keeping track of certain documents and records and having them conveniently accessible so you can produce them at a moment’s notice.

The most commonly audited policies are liability and all workers’ comp policies. The
audits collect exposure information estimated when the policy was written and compare it to the actual numbers.

Here are the main records you will need to produce:

Liability policies

• Gross company sales

• Independent contractor costs (insured and uninsured)

• Payroll for certain types of exposures.

Workers’ compensation policies

• Actual employee payroll

• Cost of independent contractors if no certificate or proof of other coverage is provided.

  If you are notified that you will be audited, you can make the whole process easier and less stressful and hopefully end on a positive note if you follow these tips:

How to prepare

Once you’ve been notified that you’re up for an audit, there are a number of steps you can take before the auditor arrives:

• Find out what the auditor will be reviewing by looking at their worksheets and past audit billing statements.

• Determine which of your employees would be best suited to work with the auditor. Look for someone that’s both knowledgeable about the accounting records that will be used in the audit and about what work is done by various employees and departments.

• Collect all the accounting records that will be used during the audit.

• If you use subcontractors, make sure that you have their certificates of insurance on hand. Ensure that your documentation shows all the contractors have their own general liability insurance and workers’ compensation coverage.

• Check that your payroll documents include a breakdown of wages according to class code, department and employee.

The day of the audit

• Make sure you have all the applicable records easily available to the auditor. You might request the audit be conducted at your place of business.

• Ask the auditor to explain any points that aren’t clear to you.

• Request a hard copy of the auditor’s findings.

After the audit

Carefully assess the audit billing statement, comparing it to your original policy. Discuss the findings with us for assistance and advice.

Don’t agree to pay any additional premium dollars until after you have talked to us, you’ve made a list of all changes and discussed any problematic areas with the auditor.

Knowing what to expect and how to prepare is the key to a successful audit. Even if you end up being charged back-premium, it could be worse if you don’t keep accurate records. By regularly updating records that your insurer would ask for, you’ll be ahead of the game and you may identify changes that may affect your premium.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are there and will help you!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

BGES Group offers all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

Go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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.

The auditors are busy working in the office.

As more and more people start their own businesses, many of them start small and run the business from home.

In the beginning, it might just be a side hustle to earn a little bit extra on top of their day job salary, but as it grows, your homeowner’s or renter’s insurance may not cover damage to your business assets. Some 40% of small businesses lack adequate business insurance, according to the Insurance Information Institute.

If you are running a small business or working freelance from home, and if the loss of machinery, tools, data or IT equipment would seriously impair your ability to make money, you want to make sure you have the right coverage.

To safeguard your data, equipment and operations, you may want to follow these tips:

Check your insurance

If you are running a home based business or need more protection for business property that is in your home, you may want to consider purchasing additional coverage.

Depending on your needs, you may have a few different options for protecting your business property.

Rider to a homeowner’s or renter’s policy
The most inexpensive home-based business insurance is an add-on or rider that expands a homeowner’s or renter’s policy to cover the company.

The cost of such a rider is minimal – often a few hundred dollars per year – but it generally provides about $2,500 of additional coverage. This type of insurance may be appropriate for a one-person business without a lot of valuable equipment or many business-related visitors, and unlikely to suffer a major loss if unable to operate for a while as a result of fire or other disaster.

In-home business policy
An in-home policy covers a broader spectrum of contingencies, including loss of critical documents or theft of funds being taken to the bank for deposit. Such a business policy, issued by a home insurer or a specialty firm, usually is a plan against injury or theft covering as many as three employees.

You may be able to buy additional coverage to increase the protection your homeowner’s insurance policy provides for business supplies. Some insurers may allow you to increase the limit up to $10,000. Adding this coverage may help cover inventory, such as cosmetics or kitchen supplies, temporarily stored in your home as you’re preparing to sell it or deliver it to customers.

Business owner’s policy

Business owners who need more than $10,000 of coverage should pay for a business owner’s policy. This comprehensive policy is the most common type for small business and covers:

• Damage to or loss of business equipment and other assets

• Liability for customer injuries

• Loss of critical records

• Malpractice or professional liability claims, and

• Loss of income or a business interruption in the case of a power outage or a natural disaster.

Other coverages

Depending on your business, you may need additional coverage. If you have employees, you’ll need to secure a workers’ compensation policy.

If you provide professional services, like graphic design, legal services, architecture, etc., you’ll also likely need a professional liability policy.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are there and will help you!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

BGES Group offers all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

Go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 is one of tri-state’s “Construction Insurance Specialists” who represent all the best programs and 50+ other insurance companies.

Here’s what we can do for you:

1. Market your account to our very large network of insurance companies and programs to get you better contractor liability and umbrella liability coverage and lower rates.

2. Design coverage to fit your needs. Insurance company commercial general liability policy wording IS tricky. They have a lot of exclusions, restrictions, warranties and conditions.  It is important you work with someone who knows what they’re doing.  We do!

3. By customizing the design of your policy, we can cut out extra cost to save you money!

4. We have an incredible pulse on the New York construction market place and know which companies offer the best coverage and rates.

5. We have new Umbrella Liability markets whose pricing and coverage seem to be better than companies that have been offering umbrella liability coverage this past year.

6. Due to volume of business and strong agency-insurance company relationships, we can usually get you better coverage and rates than most brokers. For those of you having renewal issues due to claims, give us a try because we get jobs done that most others can’t!

7. We can help any contractor from electricians and plumbers to asbestos, restoration, demolition and roofers.

8. Help you screen sub contractor’s insurance which is important because a lot of insurance companies have “Hammer Clauses” in their liability policies which means if your subs don’t carry the right coverage you can be without coverage in the event of a claim.

9. Help you with a “Subcontractor Insurance and Hold Harmless Agreement.”

10. Help you with a written “Safety Manual.”

11. Help you with contract review of insurance requirements.

Here are the coverages we offer:

Property

Contractor Equipment

Builders’ Risk

General Liability

Umbrella Liability

Business Auto

Workers’ Compensation

New York State Disability

Bid & Performance Bonds

Group Health

Like a Business Associate Referring Us To You, Check Out What People Say About Us On “Google.”

Kinga Stys

I highly recommend Gary Wallach! He is a great guy. Down to earth and extremely nice. The best insurance broker you can find. Highly recommend doing business with him. He will listen to you and you won’t be disappointed.

Anthony D.

I’ve known Gary Wallach for over 20 years. Great Insurance Broker and a super nice guy. It’s always a pleasure to deal with him. If you need someone, he’s your man. A++++

Nils W.

Great operation that you can rely on for your construction insurance needs.

Kimberly E.

I have known Gary since childhood. He is a wonderful and kind man. A true Gentleman.  A GREAT Insurance Broker!

Auslander K.

Gary Wallach is very reliable and trustworthy.  Do business with him! I strongly recommend him to anyone looking for insurance.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal 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.

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Most employers look at workers’ compensation as just another necessary evil and unavoidable cost of doing business. It’s usually one of those out of sight, out of mind things when rates are low. It’s not until an employer is hit with a rate hike that they really start to give some thought to their workers’ compensation rates.

Employers need to constantly look at workers’ compensation as a tool to improve their business’s bottom line, and they certainly need to make an effort to keep their low rates over the long-term so that they can take advantage of some significant savings.

Here are four common mistakes made by employers that frequently deter their workers’ compensation savings:

1. Assuming that lower rates equate to lower costs.

Don’t make the faulty assumption that your cost will automatically go down just because your rates have been reduced. Workers’ compensation insurers use an experience modification factor to examine the actual losses incurred by the insured company and establish cost. The actual losses are compared to other industry-alike companies. If the insured company’s past losses are below average, then the insurer gives the company a credit rating lowering their premium, but an added surcharge is applied to the premium if the insured company’s past losses are above average.

2. Believing that employers have little control when it comes to the expense of workers’ compensation.

Employers know they’ve got to have workers’ compensation insurance. However, this acknowledgment shouldn’t lend to an employer thinking they’ve got to pay excessively for it; employers don’t and shouldn’t.
Cost reduction starts at the hiring process. Initiate effective interview techniques and background checks to help ensure the right people are hired for the right jobs. That said, there’s no way to completely eliminate the possibility of injuries in a workplace. Therefore, it’s equally important to have an effective return-to-work program in place to simultaneously assist injured workers return to work as soon as possible and reduce the cost of their claims.

3. Neglecting or de-emphasizing cost containment and injury management during low rate periods.

Safety should be an unyielding focus at all times. This will not only help a company reduce their claim numbers, but also keep their rates low over the long-term. Employers need to keep an eye on the issues that frequently impact the costs of claims, such as medical care costs and lost wages. Also, remember that open claims mean escalating costs and negative impacts to the company’s modification factor. Of course, this causes an increased cost for coverage.

4. Not making the association between cost containment and worker retention.

Studies have shown that fewer accidents occur among skilled workforces, but even skilled workers can have an accident. A large part of whether or not an injured skilled employee returns to work is based on how their employer responds to them during and after recovery. An important part of an employer’s response will be in having a return-to-work program that includes maintaining constant contact with all injured workers and their health care providers to monitor how they’re recovering and when and how they can get back to work as soon as possible. Skilled employees that are kept in the loop with a return to work program’s periodic phone calls about what workplace changes are occurring in their absence are more likely to return. On the other hand, skilled employees that feel forgotten, undervalued, and disconnected aren’t very likely to return.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are there and will help you!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

BGES Group offers all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

Go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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.

If you had to close your doors or stop taking orders for two weeks or two months, what would happen? Would you be able to recover? Would you be able to meet your payroll?

Would you be able to keep up with tax, insurance, lease, rental and mortgage payments for that long? Or would you lose key workers who would be very difficult or impossible to quickly replace?

Thousands of businesses face a similar crisis every year as a result of a natural disaster, man-made disasters, civil unrest, supply chain interruptions and a variety of other factors, including the COVID-19 pandemic that brought commerce to a near standstill in 2020.

About 25% of all businesses do not reopen after a disaster, according to the Federal Emergency Management Administration, and only a fraction of small firms get back on their feet after surviving an interruption of only a few weeks. The costs to their owners, and in some cases employees, can be enormous.

Insuring against business interruption

Business interruption insurance compensates businesses for income lost as a result of a covered disruption in business operations, or damage to the firm’s premises.

For example, if you are forced to cease operations for 90 days as a result of a fire or flood, your fire or flood insurance policy will cover your material loss (over and above your deductible and subject to policy limitations).

They will cover your building and its contents, for instance. But only business interruption insurance will replace the income you lost while you were getting your business back on its feet.

Definition of business income

Business interruption insurance covers the operating expenses for a company due to a problem covered by the policy. The covered perils for business interruption insurance are generally theft, wind, fire, lightning and falling objects.

Covered operating expenses may include:

• The revenue your firm would make if it were open for business.

• Monthly mortgage, lease and rent payments for the business space.

• Loan payments for the business.

• Taxes.

• Payroll.

• Relocation costs if you have to move to a temporary location.

• Training costs for employees to learn new equipment.

Mitigation provisions

In many cases, insurance carriers will help you with costs you incur to mitigate income loss.

For example, if you can reduce the amount of your lost income by leasing an alternate office space while you get your business back on its feet, your carrier may help you with that expense as well, if it means reducing your overall covered loss.

Loss period calculation

Most policies begin calculating benefits 72 hours after the interruption begins, or the damage to the premises actually occurs.

Benefits will end as of the date the business resumes normal operation, or as of the date the lost equipment and facilities should have reasonably been replaced or repaired to enable full resumption of business activity.

If you decide to spend more or wait longer because you decide to make improvements to your facility that take longer to accomplish, that part would not normally be covered in a business interruption policy. The policy is simply designed to protect you against the negative impact of a loss of income.

The takeaway

Considering the volatility in the last few years with the COVID-19 pandemic, increasing natural catastrophes, massive supply chain disruptions and other events, now more than ever firms need business interruption coverage.

It can be the difference between your firm resuming operations or fading away for good.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are there and will help you!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

BGES Group offers all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

Go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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.