As a New York contractor, staying on top of regulatory changes is crucial for managing your business effectively. One recent change affecting your bottom line is the new payroll cap for workers’ compensation calculations. Effective July 1, 2024, the payroll cap for workers’ compensation in New York is $1,757.19 weekly. Understanding how this cap impacts your premium calculations and ensuring compliance during audits can lead to substantial savings. This article will explore these aspects, providing examples and highlighting specific considerations for different employee categories.

Understanding the Payroll Cap

The payroll cap means that only a portion of an employee’s (contractors in field, not office staff) weekly wage, up to $1,757.19, is considered for workers’ compensation premium calculations. Any wages above this cap are excluded from the premium calculations. This regulation is designed to help reduce employers’ overall premium costs. Contractors must ensure that during audits, any payroll exceeding the weekly cap is accurately excluded from calculations.

Example 1: Employee Earning $2,000 Per Week

For an employee earning $2,000 per Week:

• Included in premium calculations: $1,757.19
• Excluded from premium calculations: $242.81

In this scenario, even though the employee earns $2,000 weekly, only $1,757.19 will be used to calculate your workers’ compensation premiums—the remaining $242.81 needs to be excluded, lowering premium charge for that employee.

Example 2: Employee Earning $2,500 Per Week

For an employee earning $2,500 per Week:

• Included in premium calculations: $1,757.19
• Excluded from premium calculations: $742.81

In this scenario, even though the employee earns $2,500 weekly, only $1,757.19 will be used to calculate your workers’ compensation premiums—the remaining $742.81 needs to be excluded, lowering premium charge for that employee. This payroll cap provides a significant saving on your workers’ compensation costs.

Example 3: Employee Earning $3,000 Per Week

For an employee earning $3,000 per Week:

• Included in premium calculations: $1,757.19
• Excluded from premium calculations: $1,242.81

In this scenario, even though the employee earns $3,000 weekly, only $1,757.19 will be used to calculate your workers’ compensation premiums—the remaining $1,242.81 needs to be excluded, lowering premium charge for that employee. This payroll cap provides a significant saving on your workers’ compensation costs.

Annual Payroll Calculations and Audit Considerations

Regarding annual payroll calculations, contractors need to ensure that each employee’s excess payroll is deducted from the gross payroll during audits. This means that for every employee earning above the weekly cap, the excess amount, when annualized, should be excluded from the workers’ compensation calculations.

For instance, for an employee earning $2,000 per Week, the excess of $242.81 per week translates to $12,621.12 annually. This amount should be deducted from the gross payroll for accurate premium calculations.

Special Considerations for Owners and Executives

Owners and executives who classify themselves as salespersons under class code 8742 or executive officers under class code 8809 and who do not perform any field work or supervision have a different payroll cap. For these individuals, the payroll cap is $2,650 per week or $137,800 annually. Any payroll above this cap is excluded from workers’ compensation premium calculations, which can lead to additional savings.

Example for Owners and Executives

If an executive officer earns $3,000 per Week:

• Included in premium calculations: $2,650
• Excluded from premium calculations: $350

This exclusion amounts to $18,200 ($350 x 52 weeks) deducted from the premium calculations annually, ensuring savings for the business.

Ensuring Compliance During Audits

Contractors need to ensure that payroll workers’ compensation caps are accurately excluded from premium calculations during workers’ compensation audits. This practice helps maintain compliance and manage costs effectively. Proper documentation and meticulous payroll records are crucial during these audits to identify and exclude all excess payrolls.

How BGES Group Can Help

Navigating the complexities of workers’ compensation insurance, especially with payroll caps, can be challenging. BGES Group specializes in construction insurance and has extensive experience helping New York contractors manage and reduce workers’ compensation premiums.

Our expert understands the unique needs of the construction industry and is dedicated to providing personalized service to help you find the best insurance solutions. By working with BGES Group, you can ensure that you are taking full advantage of the payroll cap and other cost-saving measures.

Comprehensive Services and Expertise

BGES Group offers a wide range of services tailored specifically for contractors, including:

• Detailed audit reviews to ensure compliance and accuracy.
• Strategic advice on managing workers’ compensation costs.
• Customized insurance solutions that fit your unique business needs.
• Ongoing support and consultation will help you stay ahead of regulatory changes.

We aim to provide you with the tools and knowledge to minimize workers’ compensation premiums while maintaining compliance with state regulations.

Contact Us Today

Don’t let changes in workers’ compensation laws catch you off guard. Contact Gary Wallach at BGES Group today to learn more about how we can help you lower your workers’ compensation premiums. Call 914-806-5853 or email bgesgroup@gmail.com for a consultation and start saving on your insurance costs now.

Staying informed and working with specialists like BGES Group can make a significant difference in managing your business’s insurance expenses. Let us help you navigate these changes and keep your costs under control.

By partnering with BGES Group, you can ensure that your workers’ compensation premiums are as low as possible, allowing you to focus on what you do best—running a successful construction business.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

Hundreds of construction workers suffer shock each year when handling electrical tools and equipment.

One of the big problems in understanding the dangers of electrical shock is the mistaken belief that only high voltages kill. It’s not the voltage that’s lethal but the amount of current that passes through the body. The condition and placement of the body have a lot to do with the chance of getting a shock.

Employers must train their workers about the basic facts regarding the causes of electrical shock when using these tools.

Water and electricity

Damp areas and metal objects can offer good shortcuts for electricity to reach the ground. If a worker’s hands are sweaty, socks and shoes are moist or damp, the floor is wet, or standing in a puddle of water; the moisture may allow more current to pass through the body.

Workers should recognize the hazards and take necessary precautions if work is to be done with metal objects or in damp areas. These include:

• Rubber gloves and boots,
• Rubber mats,
• Insulated tools and
• Rubber sheets that can be used to cover exposed metal.

Also, extra caution should be taken in rainy conditions when working with electrical equipment or near grounded objects.

Other precautions

It’s not just the presence of water that can cause a worker to be electrocuted. Electricity is always dangerous, and workers should take all precautions necessary to avoid injury or death.

It would help if you taught them the following:

• Treat every electric wire as if it were a live one.
• Inspect equipment and extension cords before each use.
• Take faulty equipment or plugs with bent or missing prongs out of service for repair.
• Only qualified electricians should repair electrical equipment or work on energized lines.
• If a plug or receptacle doesn’t have three prongs or three openings, make sure the tool is grounded in some other way before use.
• Never try to bypass an electrical system by cutting off the third prong of a plug.
• Turn off the power and report the smell of hot or burning plastic, smoke or sparks, or the presence of flickering lights.
• Stop using a tool or appliance if a slight shock or tingling is felt.
• Never disconnect an electrical plug by pulling on the cord.
• Whenever working on an electric circuit, it should be turned off and locked out at the circuit breaker or fuse box to prevent accidental turning on.
• Those who regularly work on or around energized electrical equipment should be trained in emergency response and CPR.

The takeaway

Electrical tools require additional precautions on the part of your workers. You must train them in proper usage and how to spot potential dangers of electrocution.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

In the competitive construction landscape of New York, property owners, and general contractors are increasingly requesting waivers of subrogation from the contractors they employ. These waivers are essential in general liability and workers’ compensation policies. A waiver of subrogation prevents an insurer from seeking reimbursement from a third party responsible for a loss after paying the insured’s claim. These waivers and how they benefit all parties involved are vital.

Importance of Waiver of Subrogation

1. Protection Against Legal Actions:

Property owners and general contractors require waivers of subrogation to shield themselves from potential lawsuits. These waivers are necessary for a contractor’s insurer to pay a claim, or else the insurer might sue the property owner or general contractor to recoup the payment. Waivers of subrogation ensure that these parties won’t face litigation or financial liability from the contractor’s insurer.

2. Streamlined Claim Processes:

Having a waiver of subrogation in place simplifies the claims process. It prevents the contractor’s insurance company from pursuing subrogation claims against the property owner or general contractor, leading to quicker settlements and reducing administrative burdens. This allows all parties to focus on project completion without the distraction of prolonged legal disputes.

3. Enhanced Working Relationships:

Requiring waivers of subrogation fosters trust and cooperation among property owners, general contractors, and subcontractors. It demonstrates a commitment to mutual protection and risk reduction, which can strengthen business relationships and lead to more successful projects.

Scenarios Highlighting the Importance of Waiver of Subrogation

1. Workplace Injury:

The insurer typically pays the claim if a subcontractor’s employee is injured and files a workers’ compensation claim. Without a waiver of subrogation, the insurer might sue the property owner or general contractor, alleging unsafe working conditions contributed to the injury. A waiver of subrogation prevents this lawsuit, protecting the owner and contractor from additional legal and financial burdens.

2. Property Damage:

Imagine a subcontractor accidentally damages the property they are working on. The subcontractor’s general liability insurance covers the damage. Without a waiver of subrogation, the insurer could sue the property owner or general contractor to recover the payout, claiming inadequate oversight or other contributing factors. A waiver of subrogation stops the insurer from taking this action.

3. Equipment Failure:

If a subcontractor’s equipment fails and damages the project site, the subcontractor’s insurance covers the loss. However, without a waiver of subrogation, the insurer might seek reimbursement from the property owner or general contractor, alleging negligence in project management. A waiver of subrogation ensures that the owner and contractor are protected from such claims.

How BGES Group Can Help

Navigating the complexities of insurance coverage and securing the necessary waivers can be challenging for contractors. BGES Group, specialists in New York construction insurance, are here to assist. They help contractors obtain the appropriate coverage, including waivers of subrogation, to meet the requirements of property owners and general contractors while providing robust protection.

For more information, contact Gary Wallach at 914-806-5853 or email bgesgroup@gmail.com. Let BGES Group help you secure the proper coverage.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

Navigating through New York’s labyrinthine workers’ compensation insurance requirements can be bewildering for contractors. This guide demystifies the process, ensuring you’re fully compliant and well-protected.

Overview of Workers’ Compensation Insurance in NY

Workers’ compensation insurance in New York is a mandatory requirement for most employers, designed to provide coverage for employees in case of work-related injuries or illnesses. This insurance is vital for both protecting workers and shielding employers from potentially crippling financial liabilities.

The state mandates strict adherence to its workers’ compensation laws, ensuring that workers receive medical treatment and compensation for lost wages promptly and efficiently.

Who Needs Workers’ Compensation Insurance in NY?

In New York, almost all employers are required to have workers’ compensation insurance. This includes contractors, regardless of their size or the number of employees. Even if you’re a solo contractor, New York’s regulations often require coverage to protect against individual injury on the job.

Requirements for Contractors in NY

Contractors in New York must ensure that their workers’ compensation insurance policy covers all employees, including part-time workers and family members employed by the business. Additionally, if subcontractors are used, contractors are responsible for verifying that the subcontractors have their own workers’ compensation coverage.

It’s also important for contractors to understand that certain exemptions apply, such as for sole proprietors without employees, but these are specific and should be discussed with an insurance advisor or the New York State Workers’ Compensation Board.

Failure to comply with these requirements can lead to severe penalties, including fines and possibly the cessation of business operations until compliance is achieved.

How to Obtain Workers’ Compensation Insurance

Contractors can obtain workers’ compensation insurance through a private insurance carrier, the New York State Insurance Fund (NYSIF), or through self-insurance. Choosing the right coverage involves evaluating factors like cost, the extent of coverage, and the insurer’s reputation.

Penalties for Non-Compliance

The consequences for not carrying workers’ compensation insurance in NY can be steep, ranging from monetary fines to criminal charges. Specific penalties depend on the length of time without coverage and the number of employees.

Frequently Asked Questions About Workers’ Compensation in NY

Some common questions include what to do if an employee gets injured, how to file for workers’ compensation, and how to appeal a coverage decision. Resources for answers include the New York Workers’ Compensation Board website and legal advisors specializing in workers’ compensation law.

Another frequently asked question is regarding the cost of workers’ compensation insurance. This varies widely based on the contractor’s industry, the company’s claims history, and payroll size.

Securing Your Future with Compliance

Understanding the nuances of workers’ compensation insurance in New York is crucial for any contractor looking to operate legally and responsibly. It’s not just about compliance; it’s about safeguarding your business and your team from unforeseen circumstances. With this guide, you’re now better equipped to navigate the complexities of insurance requirements, ensuring that your project flows smoothly and your workforce is protected.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

 

How long you wait to notify your workers’ compensation insurer of a workplace injury can significantly affect the cost of that claim.

When your premium is calculated, your carrier takes into account the cost and frequency of prior claims during the past few years.

In short, by improving your organization’s injury notification times, you can also positively affect the cost of the claim, which can help reduce your overall workers’ comp premiums going forward.

The numbers speak for themselves.

A National Council on Compensation Insurance study looking at the cost of a claim based on the delay between incidence and notification found that the longer an employer waits to file a workers’ comp claim, the costlier it becomes:

• A two- to three-week delay increases the cost by 13%,
• Four to six weeks increases the cost by 25%,
• Seven to 12 weeks ups the cost by 34%, and
• More than 12 weeks increases the cost by 91%.

Why does early reporting work?

The sooner medical treatment begins, the better the outcome.

For a workers’ compensation claim, the sooner your insurer knows about an injury to one of your workers, the sooner they can start collecting information and plan for appropriate treatment options.

If medical treatment is delayed, the more likely it is that costs will mushroom, both in terms of medical costs and lost time from work, which needs to be compensated.

If you notify your carrier when an injury occurs, and they can arrange for the worker to begin medical treatment, the length or severity of the treatment program will likely be less.

For the injured worker, this means a shorter recovery time, a better prognosis for general health and return-to-work outcomes, and a more positive attitude toward their injury and the workplace.

For you as the employer, this translates to less money allocated to covering wages and treatment for the injured worker and less disruption to your workplace to cover their duties.

Claims reporting tips:

• Develop internal procedures for reporting injuries. Ensure your staff knows the importance of reporting injuries immediately and your reporting procedures.
• Don’t question employees’ integrity when they report an injury.
• Understand the legal requirements for reporting workplace injuries.
• Report a claim immediately after learning about it.
• Encourage safe work practices and ensure employees know and practice proper safety techniques.
• If an injured worker has partial capacity, you can provide alternative duties while they heal. This can have a positive impact on potential disability levels and on the premium effect of lost time.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

In the bustling Tri-State area, contractors are the backbone of the skyline’s ever-changing silhouette. Working in this dynamic environment exposes businesses to unique risks and opportunities. Comprehensive insurance isn’t just a regulatory requirement; it’s the armor that protects your endeavors from unforeseen financial losses. Dive into the critical reasons why every contractor must secure robust insurance coverage.

Understanding the Basics of Contractor Insurance

Navigating the world of contractor insurance may seem daunting, but understanding its basics can illuminate why it’s indispensable in the Tri-State area. Contractor insurance encompasses various policies covering liability, property damage, and employee-related risks. With projects sprawling from urban high-rises to residential makeovers, having a tailored insurance plan ensures that your business’s specific needs are addressed, allowing you to focus on crafting the city’s skyline without the looming fear of potential liabilities.

The Risks Contractors Face Without Insurance

Imagine facing a lawsuit for a job-site accident or property damage without the shield of insurance. Such situations can not only bleed finances but also tarnish reputations, critical for maintaining a steady flow of projects in the competitive Tri-State area. Uninsured contractors risk everything from legal fees to compensation payouts, which can easily escalate into amounts capable of crippling a business. The story doesn’t end with financial loss; the domino effect can disrupt ongoing projects, strain client relationships, and deter potential opportunities.

Additionally, operating without proper insurance might contravene local regulations, leading to fines or even a cessation of your business operations. These risks highlight the importance of having comprehensive insurance coverage, serving as a vital lifeline in the high-stakes construction industry.

Types of Insurance Coverage Every Contractor Should Consider

A one-size-fits-all approach doesn’t apply to contractor insurance, given the varied nature of projects in the Tri-State area. General liability insurance offers a broad safety net, covering injury or damage claims made by third parties. Workers’ compensation is equally crucial, covering employees’ medical expenses and lost wages due to job-related injuries. Professional liability, or errors and omissions insurance, protects against claims of negligence or unsatisfactory work.

How Comprehensive Insurance Protects Your Business and Employees

A comprehensive insurance portfolio doesn’t just protect your financial assets; it secures your workforce—the heart of your operation. By covering medical treatments for job-related injuries, workers’ compensation insurance not only aids your employees’ recovery but also fosters a supportive workplace culture. This holistic approach to insurance safeguards your business’s reputation, ensuring project timelines and budgets aren’t derailed by litigation or accidents.

Moreover, insurance such as business interruption can be a savior in times of unexpected halts, covering lost income and helping your business stay afloat. In essence, a well-rounded insurance strategy is not an expense but an investment in your business’s resilience and in nurturing a loyal, secure workforce.

Navigating Insurance Requirements in the Tri-State Area

The Tri-State area, with its dense urban environment and complex regulatory landscape, presents unique challenges in compliance. Local laws can vary significantly, and staying informed is crucial to ensure your insurance coverage meets all legal requirements. Engaging with a knowledgeable insurance broker who understands the intricacies of the Tri-State area can streamline this process, ensuring your coverage not only complies with local laws but also provides comprehensive protection for your specific business risks.

Steps to Choosing the Right Insurance Provider

Selecting an insurance provider is a pivotal decision for any contractor. Look for companies with a solid reputation and a track record of supporting businesses in the Tri-State area. It’s essential to compare quotes and understand the nuances of each policy. Don’t hesitate to ask potential providers about their claims process; timely support in the event of a claim is invaluable. Remember, the right provider is a partner in safeguarding your business’s future.

Securing Your Legacy with Comprehensive Coverage

In the realm of construction and contracting, preparation and protection are as crucial as the foundation of a building. Comprehensive insurance offers a safeguard against the unpredictable, ensuring that both your business and the people who make it thrive can weather any storm. As the construction landscape evolves, especially in the highly competitive Tri-State area, being adequately insured is not merely an option—it’s a necessity for enduring success. Embrace comprehensive contractor insurance as the cornerstone of your business strategy, and build a legacy that stands the test of time.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

 

For business owners in New York, New Jersey, and Connecticut, managing workers’ compensation insurance efficiently is vital to ensure regulatory compliance and your business’s financial health. Partnering with BGES Group for workers’ compensation insurance through one of their Professional Employer Organization (PEO) programs can provide numerous benefits. This writing explores the critical advantages of having your workers’ compensation insurance through one of BGES Group’s PEO programs, helping you make an informed decision to enhance your business operations.

1. Significant Cost Savings

One of the most compelling reasons to consider BGES Group’s PEO programs is the potential for significant cost savings. BGES Group leverages its client base and forty four (44) years of relationships to negotiate great workers’ compensation insurance premiums. BGES Group’s PEO programs offer competitive rates allowing you to allocate your budget more effectively and invest in other crucial areas of your business.

Another area business owner’s can save is by having their “Group Health Insurance” through one of BGES Group’s PEOs.  Just when you thought there were no other group health insurance options.  Now there is!   

2. Streamlined Payroll and HR Administration

Managing payroll and human resources can be particularly challenging for small to mid-sized businesses. BGES Group’s PEO programs handle these administrative tasks, ensuring accurate and timely payroll processing and efficiently managing HR-related issues. This reduces the administrative burden on your team and allows you to focus on your core business activities, driving growth and improving productivity.

3. Enhanced Compliance

Navigating the complexities of workers’ compensation laws and regulations in New York, New Jersey, and Connecticut can be daunting. BGES Group’s PEO programs ensure your business complies with all relevant federal and state regulations, reducing the risk of costly fines and legal issues. Their expertise in employment law and workers’ compensation regulations provides a safety net, ensuring your business operates within the bounds of the law.

4. Comprehensive Risk Management and Safety Programs

BGES Group’s PEO programs offer access to comprehensive risk management and safety initiatives designed to create a safer work environment. These programs include safety training, workplace inspections, and expert guidance on best practices to reduce workplace injuries. By proactively addressing potential hazards, you can lower the incidence of workers’ compensation claims, leading to reduced insurance costs and a healthier, more productive workforce.

5. Efficient Claims Management

Handling workers’ compensation claims can be complex and time-consuming. BGES Group’s PEO programs provide dedicated claims management teams that oversee the entire process, from initial filing to managing medical care and facilitating return-to-work programs. This ensures claims are processed efficiently, minimizing downtime and reducing the impact on your business operations. Their expertise helps expedite claims resolution, providing your employees receive the care they need promptly.

6. Access to Enhanced Benefits Packages

Attracting and retaining top talent is crucial for any business. BGES Group’s PEO programs offer access to enhanced benefits packages, including health insurance, retirement plans, and other employee benefits that may be challenging to provide independently. Offering competitive benefits improves employee satisfaction and loyalty and positions your business as an attractive employer in a competitive job market.

7. Scalability and Flexibility

As your business grows, your workforce needs may evolve. BGES Group’s PEO programs provide the scalability and flexibility to adjust your workers’ compensation coverage and other HR services as required. This adaptability ensures that your insurance and administrative support align with your changing business requirements, whether expanding your operations or taking on new projects.

8. Access to Expertise

BGES Group’s PEOs employ professionals with extensive experience in workers’ compensation, HR, and risk management. You can access this expertise by partnering with BGES Group’s PEO programs without hiring additional staff. This can be particularly beneficial for smaller businesses needing more resources to employ full-time HR or risk management professionals. Their team of experts provides the necessary guidance and support to navigate complex employment issues effectively.

9. Focus on Core Business Activities

Outsourcing workers’ compensation insurance and HR functions to one of BGES Group’s PEO programs allows you to concentrate on your core business activities. By reducing the time and effort spent on administrative tasks, you can focus on growing your business, improving customer relationships, and enhancing your services. Concentrating on your core competencies can increase productivity and business growth.

10. Peace of Mind

Knowing that professionals manage your workers’ compensation insurance and HR functions provides peace of mind. Rest assured that your business complies with all regulations, your employees are well taken care of, and any claims will be handled efficiently. This peace of mind lets you confidently operate and focus on achieving your business goals.

Conclusion

Partnering with one of BGES Group’s PEO programs for your workers’ compensation insurance offers numerous advantages that can benefit your business in New York, New Jersey, and Connecticut. From significant cost savings and streamlined administration to enhanced compliance and access to expertise, BGES Group provides valuable support that can improve your operations and contribute to your success.

If you’re ready to explore the benefits of having your workers’ compensation insurance through BGES Group’s PEO programs, contact Gary Wallach at BGES Group. With his extensive experience and personalized approach, Gary can help you navigate the complexities of workers’ compensation and find the best solutions for your business. Contact Gary at 914-806-5853 for expert assistance and discover how BGES Group can support your business.

—

By leveraging the benefits of BGES Group’s PEO programs, you can streamline your operations, reduce costs, and focus on what you do best—growing your business and delivering exceptional services to your clients. Contact BGES Group today and take the first step towards a more efficient and practical approach to workers’ compensation insurance.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

As a contractor, managing your workforce efficiently while keeping costs under control is crucial for the success of your business. One of the most effective ways to achieve this is by partnering with BGES Group for your workers’ compensation insurance through one of their Professional Employer Organization (PEO) programs. BGES Group PEO programs offer a range of benefits that can streamline your operations, reduce administrative burdens, and ultimately save you money. This article will explore the key advantages of having your workers’ compensation insurance through one of BGES Group’s PEO programs.

1. Significant Cost Savings

BGES Group leverages its client base and connections to negotiate great workers’ compensation insurance rates for their contractor client’s. Many contractors have saved thousands, tens of thousands of dollars by having their workers’ compensation insurance through a PEO.  Contractors who have had a run of bad luck with losses or been without coverage for a period of time, one of BGES Group’s PEOs would be great place to obtain new coverage.  Are you unhappy with your group health plan?

Another area a contractor can save is by having their “Group Health Insurance” through one of BGES Group’s PEOs.  Just when you thought there were no other group health insurance options. Now there is!

2. Simplified Payroll and HR Administration

Managing payroll and human resources can be time-consuming and complex, especially for smaller contracting businesses. BGES Group’s PEO programs take on these administrative tasks, ensuring that payroll is processed accurately and on time and that all HR-related issues are handled efficiently. This allows you to focus on your core business activities without getting bogged down by administrative details.

3. Enhanced Compliance

Staying compliant with federal and state regulations is critical to avoid costly fines and legal issues. BGES Group PEO’S are experts in employment law and workers’ compensation regulations. They ensure that your business remains compliant with all relevant laws, reducing the risk of penalties and helping you navigate the complexities of workers’ compensation requirements. Their compliance expertise is invaluable, keeping your business on the right side of the law.

4. Comprehensive Risk Management and Safety Programs

One of the primary advantages of working with BGES Group PEO’S are access to comprehensive risk management and safety programs. BGES Group PEO’S can provide safety training, conduct workplace inspections, and offers guidance on creating a safer work environment. These initiatives can significantly reduce workplace injuries, lowering workers’ compensation claims and insurance costs. Their proactive approach to risk management helps create a safer, more productive workplace.

5. Efficient Claims Management

Handling workers’ compensation claims can be a daunting task. BGES Group’s PEO programs have dedicated claims management teams that hold the entire process, from filing claims to managing medical care and facilitating return-to-work programs. This ensures that claims are processed efficiently, reducing downtime and minimizing the impact on your business operations. Their expertise in claims management helps to expedite the resolution process, ensuring that your employees receive the care they need promptly.

6. Access to Enhanced Benefits Packages

BGES Group’s PEO programs often offer access to enhanced benefits packages that can attract and retain top talent. These packages may include health insurance, retirement plans, and other employee benefits that would be challenging for a small contractor to provide independently. Offering competitive benefits can improve employee satisfaction and loyalty, reducing turnover and the associated costs. These comprehensive benefits position your business as an attractive employer in the competitive job market.

7. Scalability and Flexibility

As your business grows, your workforce needs may change. BGES Group’s PEO programs provide scalability and flexibility, allowing you to adjust your workers’ compensation coverage and other HR services. This adaptability ensures that your insurance and administrative support align with your business’s evolving requirements. Whether expanding your operations or taking on larger projects, BGES Group’s PEO programs can grow with you.

8. Access to Expertise

BGES Group PEO’S employs professionals with extensive experience in workers’ compensation, HR, and risk management. You can access this expertise by partnering with BGES Group’s PEO programs without hiring additional staff. This can be particularly beneficial for smaller contractors needing more resources to employ full-time HR or risk management professionals. Their team of experts provides the necessary guidance and support to navigate complex employment issues.

9. Focus on Core Business Activities

Outsourcing workers’ compensation insurance and HR functions to BGES Group’s PEO programs allows you to concentrate on your core business activities. By reducing the time and effort spent on administrative tasks, you can focus on growing your business, improving customer relationships, and enhancing your services. Concentrating on your core competencies can increase productivity and business growth.

10. Peace of Mind

Knowing that professionals manage your workers’ compensation insurance and HR functions provides peace of mind. Rest assured that your business complies with all regulations, your employees are well taken care of, and any claims will be handled efficiently. This peace of mind lets you confidently operate and focus on achieving your business goals.

Conclusion

Partnering with BGES Group’s PEO programs for your workers’ compensation insurance offers numerous advantages that can benefit your contracting business. From significant cost savings and simplified administration to enhanced compliance and access to expertise, BGES Group provides valuable support that can improve your operations and contribute to your success.

If you’re ready to explore the benefits of having your workers’ compensation insurance through one of BGES Group’s PEO programs, contact BGES Group. With his extensive experience and personalized approach, Gary can help you navigate the complexities of workers’ compensation and find the best solutions for your business. Contact Gary at 914-806-5853 for expert assistance and discover how BGES Group can support your contracting business.

---

By leveraging the benefits of one of BGES Group’s PEO programs, you can streamline your operations, reduce costs, and focus on what you do best—growing your business and delivering exceptional services to your clients. Contact BGES Group today and take the first step towards a more efficient and practical approach to workers’ compensation insurance.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group

Contractors in New York face numerous challenges and risks in their daily operations, especially when working with subcontractors. Ensuring that all parties involved are adequately protected is crucial, and this is where a General Liability Insurance policy becomes essential. One of the critical components of such a policy is contractual liability, which can cover the contractor for certain liabilities assumed in a contract. This article will delve into how contractual liability works under a New York contractor’s General Liability Insurance policy, particularly in relation to subcontractors, and provide a practical example of an “action over” claim.

#### What is Contractual Liability?

Contractual liability refers to the obligations a contractor assumes in a contract that could result in liability. This often comes in the form of indemnity or hold harmless agreements where one party agrees to protect another from certain risks. Under a General Liability Insurance policy, contractual liability coverage helps manage these risks by covering the liabilities a contractor assumes through contractual agreements.

#### Importance of Insurance and Hold Harmless Agreements

For New York contractors, having insurance and hold harmless agreements in place when dealing with subcontractors is not just a good practice—it’s essential. These agreements ensure that subcontractors are held accountable for their actions and that the primary contractor is protected from potential liabilities arising from the subcontractor’s work. By requiring subcontractors to carry their own insurance and include the contractor as an additional insured, contractors can transfer some of the risks associated with their projects.

#### Example of an “Action Over” Claim

An action over claim is a scenario where an injured subcontractor’s employee sues the general contractor, despite receiving workers’ compensation benefits. Let’s break down how this works with an example:

1. **Injury on the Job Site:**

  Imagine a subcontractor’s employee is injured on the job site due to a fall from a scaffold. The employee files a claim and receives workers’ compensation benefits from the subcontractor’s workers’ compensation insurance.

2. **Lawsuit Against the Contractor:**

  Despite receiving workers’ compensation, the injured employee decides to sue the general contractor for additional damages, claiming that the contractor’s negligence contributed to the accident. This is where the “action over” claim comes into play.

3. **Contractual Liability and Hold Harmless Agreements:**

If there is a hold harmless agreement in place between the contractor and the subcontractor, the general contractor can tender the lawsuit back to the subcontractor’s liability insurance policy. The subcontractor’s General Liability Insurance policy would then respond to the claim, covering the general contractor’s liability arising from the lawsuit.

This example highlights the importance of having well-drafted hold harmless agreements and ensuring that subcontractors carry adequate liability insurance. Without these protections, the general contractor could face significant financial exposure from such lawsuits.

#### Practical Steps for New York Contractors

To protect themselves effectively, New York contractors should take the following steps when dealing with subcontractors:

1. **Insurance Requirements:**

  Require subcontractors to carry their own General Liability Insurance and workers’ compensation insurance. Additionally, ensure that subcontractors name the contractor as an additional insured on their policies.

2. **Hold Harmless Agreements:**

  Include clear hold harmless and indemnification clauses in all subcontractor agreements. These clauses should specify that the subcontractor will defend and indemnify the contractor against any claims arising from the subcontractor’s work.

3. **Regular Review:**

  Regularly review and update contracts and insurance requirements to ensure they comply with current laws and industry standards. Work with an insurance specialist to ensure all potential risks are covered.

#### How BGES Group Can Assist

Navigating the complexities of contractual liability and ensuring adequate protection requires expertise and personalized attention—this is where BGES Group excels. As one of New York’s premier construction insurance specialists, BGES Group operates like a mom-and-pop boutique, offering personalized service to select accounts. Unlike large agencies that manage thousands of accounts, BGES Group focuses on providing select accounts with responsive, reliable, and immediate service without charging extra ridiculous service fees.

Gary Wallach and his team understand the unique needs of New York contractors and can help them secure the necessary coverage to protect their businesses. By working closely with contractors, BGES Group ensures that all potential risks are covered, including those arising from subcontractor relationships. This includes helping contractors draft and review insurance and hold harmless agreements to ensure they are adequately protected.

For contractors looking to safeguard their operations against potential liabilities, BGES Group is the ideal partner. Call Gary Wallach at 914-806-5953 for expert guidance and support in obtaining the right General Liability Insurance policy that includes comprehensive contractual liability coverage. BGES Group’s personalized approach ensures that every client receives the attention and tailored solutions they need to thrive in New York’s competitive construction industry.

By partnering with BGES Group, New York contractors can rest assured that they have a dedicated team looking out for their best interests. This level of personalized service and commitment to client success sets BGES Group apart from the large agencies that service thousands of accounts. If you want responsive, reliable, and trustworthy insurance services without ridiculous service fees, contact Gary Wallach at 914-806-5853 today.

In the ever-evolving landscape of construction, contractors face numerous challenges that can impact their business operations and overall success. At BGES Group, we understand these challenges and are dedicated to providing comprehensive solutions that go beyond standard offerings. Our program, which BGES Group can offer contractors that are in New York, New Jersey, and Connecticut, is also available nationwide (our associate can offer you this program nationwide) and aims to streamline your operations, mitigate risks, and enhance your workforce’s well-being.

#### Streamlined Payroll Services

Managing payroll can be a daunting task, especially for construction companies with varying project sizes and workforce fluctuations. Our payroll service is tailored to meet the unique needs of contractors, ensuring accurate and timely payments to your employees. By automating payroll processes, we help you save time, reduce errors, and maintain compliance with state and federal regulations. Whether you’re a small contractor or a large construction firm, our payroll service adapts to your requirements, providing a seamless experience that lets you focus on what you do best—building and managing projects.

#### Competitive Workers’ Compensation

Workers’ compensation is a critical aspect of any construction business, offering protection to both employees and employers. At BGES Group, we specialize in workers’ compensation solutions for the construction industry. Our program offers competitive rates and robust coverage, even if you’ve experienced a run of bad luck with losses. We understand the intricacies of workers’ compensation claims and work diligently to provide you with the best possible coverage tailored to your specific needs. Our goal is to help you minimize risks and ensure the safety and well-being of your workforce, allowing you to operate with confidence.

#### Enhanced Group Health Insurance

A healthy workforce is a productive workforce. If you’re dissatisfied with your current health plan or looking for better options for yourself and your employees, our program may have the solution you need. We offer group health insurance plans designed to provide comprehensive coverage and improve the overall health and well-being of your team. Our plans are flexible and can be customized to suit the unique needs of your business, helping you attract and retain top talent while keeping your employees healthy and motivated.

#### Nationwide Availability

While our primary focus is on serving contractors in the Tri-State area, our program is available to contractors across the country. For those outside New York, New Jersey, and Connecticut, we have an associate who will assist in getting you a quote and ensuring you receive the same level of exceptional service. We believe in helping as many companies as we can, regardless of their location, and our nationwide availability reflects our commitment to supporting contractors everywhere.

#### Additional Support Services

In addition to payroll, workers’ compensation, and group health insurance, our program offers support with Human Resources (HR) needs. Whether you require assistance with HR compliance, employee relations, or training and development, our team is here to help. We understand the complexities of managing a construction workforce and provide the resources and expertise needed to handle HR challenges effectively.

#### Contact Us Today

At BGES Group, we pride ourselves on being construction workers’ compensation specialists in the Tri-State area. Our comprehensive program is designed to address the unique needs of contractors, offering competitive rates, tailored solutions, and exceptional support. If you’re looking for a partner who understands your industry and is committed to your success, look no further.

Contact Gary Wallach at BGES Group to learn more about our program and how we can help your business thrive. Phone #; 914-806-5853 Email: bgesgroup@gmail.com Together, we can build a stronger future for your company and your workforce.

For more information, visit [BGES Group](http://www.bgesgroup.com) or call us today. Let us be your trusted partner in navigating the complexities of the construction industry.

BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health.  Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.

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

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

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

email: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2024 – BGES Group