As a New York contractor, protecting your business from liability is critical. Commercial General Liability (CGL) and Umbrella Liability insurance provide essential coverage to safeguard your operations from claims arising out of accidents, property damage, and legal disputes. However, not all policies are created equal, and understanding the key elements of your coverage is crucial to ensure that your business is adequately protected. Here are 10 things to look for when buying commercial general and umbrella liability insurance:

1. Adequate Coverage Limits

One of the most important aspects of both CGL and umbrella liability insurance is ensuring you have enough coverage to protect against major claims. CGL policies typically come with limits for bodily injury, property damage, and products-completed operations, but these limits may not be enough for larger claims. Make sure your coverage is sufficient based on the size and risk level of your projects.

2. Products-Completed Operations Coverage

For contractors, a significant risk occurs after a project is completed. Products-completed operations coverage protects your business if work you completed causes injury or property damage down the line. It’s vital to ensure this is included in your CGL policy and that coverage continues after the project is finished.

3. Contractual Liability Coverage

Many New York construction contracts require contractors to assume liability for certain risks. Contractual liability coverage under your CGL policy protects you against claims related to liabilities you assume through written contracts, such as indemnifying the project owner or general contractor. Be sure this provision is included and that it aligns with your contractual obligations.

4. Coverage for Subcontractors

If you hire subcontractors, your CGL policy should address liability arising from their work. It’s common for policies to exclude claims related to subcontractor work, so it’s essential to either ensure your policy covers subcontractors or require subcontractors to carry their own insurance and name you as an additional insured.

5. Primary and Non-Contributory Coverage

New York contractors often work under agreements that require their liability insurance to be primary and non-contributory. This means that, in the event of a claim, your insurance will respond first, without seeking contribution from the additional insured’s coverage. Verify that your policy includes this provision, as it’s often a requirement for working with certain project owners and general contractors.

6. Defense Costs Coverage

Legal defense costs can quickly escalate during a lawsuit, even if the claim is frivolous. Look for policies where defense costs are covered outside of the liability limits. This ensures that legal fees do not erode the total amount available for settlements or judgments, keeping more coverage available for paying claims.

7. Exclusions and Endorsements

Be sure to carefully review the exclusions and endorsements on both your CGL and umbrella policies. Common exclusions for construction contractors include certain types of work, pollution claims, and professional liability. Additionally, make sure endorsements are appropriate to your needs and add necessary coverages, such as additional insured status for project owners.

8. Umbrella Policy Compatibility

Your umbrella policy should seamlessly extend coverage beyond the limits of your CGL policy. Ensure that it mirrors the terms and conditions of your underlying policies, as discrepancies between policies could lead to coverage gaps. It’s crucial that your umbrella policy “follows form,” meaning it applies the same terms and exclusions as your CGL policy.

9. Employer’s Liability Coverage

While your workers’ compensation policy covers injuries to employees, employer’s liability coverage—often included in CGL policies—provides protection for claims that fall outside the scope of workers’ compensation, such as third-party over claims or claims by employees alleging unsafe working conditions. Be sure this coverage is included, especially if your employees work in high-risk environments.

10. Claims-Made vs. Occurrence Policies

Another critical factor is whether your CGL and umbrella policies are claims-made or occurrence-based. Occurrence policies cover incidents that occur during the policy period, even if the claim is filed later. Claims-made policies only cover claims filed while the policy is in effect. Contractors typically prefer occurrence-based policies for the broader protection they offer.

BGES Group: Your New York Construction Insurance Experts

Navigating the complexities of commercial general and umbrella liability insurance can be daunting, but BGES Group is here to help. We specialize in providing comprehensive insurance solutions tailored to New York contractors. Whether you need help understanding policy limits, endorsements, or additional insured requirements, we’ll guide you through the process to ensure your business is fully protected.

If you need assistance in purchasing the right commercial general or umbrella liability insurance, contact Gary Wallach at BGES Group today. We offer expert advice and personalized service to ensure you get the coverage you need at competitive prices.

Reach out to Gary Wallach at 914-806-5853, via email at bgesgroup@gmail.com, or visit our website at www.bgesgroup.com for more information.

As a New York business owner, you’re no stranger to the complexities of managing workers’ compensation insurance. Perhaps your premiums have skyrocketed, or your claims are being mishandled. Maybe you’re feeling overlooked by an insurance company that doesn’t prioritize your business needs. If you’re dissatisfied with your current workers’ compensation provider, it’s time to explore a better option.

At BGES Group, we specialize in workers’ compensation insurance, providing personalized service and expert solutions to business owners throughout New York. With years of experience and a dedicated team of specialists, we understand the unique challenges you face and can help you resolve them swiftly and effectively. Our boutique-like service ensures you get the attention you deserve, helping you protect your employees while keeping your costs in check.

Here Are 10 Issues BGES Group Can Help You Solve:

1. High Premiums: We assess your current coverage and help reduce premiums by optimizing your policy to match your business needs.

2. Claims Handling: If you’re struggling with slow or ineffective claims processing, we step in to ensure claims are handled quickly and fairly, preventing costly delays.

3. Employee Classification: Incorrect employee classifications can result in inflated premiums. We help correct classifications to ensure you’re paying only what’s necessary.

4. Experience Modification Rate (EMR) Issues: A high EMR can drive up your premiums. We’ll help you develop strategies to lower your EMR and reduce your workers’ comp costs over time.

5. Lack of Coverage Options: If you’re stuck with limited policy options, BGES Group provides access to a wide range of coverage options tailored to your industry.

6. Audit Discrepancies: Workers’ comp audits can sometimes result in inaccurate assessments and surprise costs. We assist in preparing for and contesting audits to prevent unexpected expenses.

7. Compliance Problems: Struggling to stay compliant with New York State workers’ compensation laws? We’ll make sure your policies meet state requirements and avoid penalties.

8. Communication Gaps with Your Insurance Carrier: If your current insurer isn’t responsive, we provide direct access to our specialists who offer timely and clear communication, keeping you informed every step of the way.

9. Claims Prevention Strategies: Beyond just managing claims, we help you implement safety programs and loss prevention strategies to reduce workplace accidents and future claims.

10. Renewal Hassles: When it’s time to renew, we proactively work on your behalf to ensure you’re getting the best rates and coverage, saving you the stress of last-minute decisions.

If you’re tired of dealing with a workers’ compensation provider that doesn’t deliver, BGES Group is here to help. We offer expert advice, personalized service, and solutions that make a real difference in your business.

Contact BGES Group Today:

Gary Wallach

Workers’ Compensation Insurance Specialist

Phone: 914-806-5853

Email: bgesgroup@gmail.com

Don’t settle for less—let us show you how easy and affordable it can be to get the right workers’ compensation insurance for your business. Reach out today!

When it comes to renewing your insurance policies, staying informed is critical for New York contractors. Both commercial general liability (CGL) and workers’ compensation insurance are essential to protecting your business from costly claims and lawsuits. Here are ten important things to keep in mind during the renewal process:

1. Labor Law Coverage is a Must

In New York, Labor Laws 240 and 241 expose contractors to high liability risks for construction accidents. It’s crucial to have labor law coverage included in your CGL policy to protect against claims stemming from falls and other worksite injuries. Without this coverage, you may be personally liable for damages.

2. Review Additional Insureds Requirements

Most contracts require contractors to list the project owner and general contractor as additional insureds on their liability policies. Ensure your policy meets these requirements and provides adequate primary and non-contributory coverage.

3. Audit Adjustments in Workers’ Compensation

Workers’ compensation premiums are often subject to audits, where your payroll and classification codes are reviewed. Make sure your payroll records are accurate and that all employees are correctly classified to avoid unexpected premium hikes or penalties.

4. Subcontractor Coverage Verification

If you hire subcontractors, ensure they carry their own workers’ compensation and general liability insurance. You may be held liable if a subcontractor’s employee is injured on your job site and they are uninsured or underinsured.

5. General Liability Policy Limits

With rising construction costs and legal risks, confirm that your general liability limits are high enough to cover potential claims. Consider increasing your policy limits or purchasing an umbrella liability policy for additional protection.

6. Know the Impact of Loss History

Insurance carriers look closely at your loss history when renewing policies. A history of frequent claims can lead to increased premiums or even non-renewal. It’s important to implement safety protocols and risk management strategies to minimize claims and improve your renewal terms.

7. Ensure Adequate Coverage for Action Over Claims

Action over claims occur when a subcontractor’s employee is injured, files a workers’ compensation claim, and then sues the general contractor or project owner. Make sure your CGL policy covers action over claims, as these lawsuits can lead to significant payouts.

8. Beware of Exclusions and Gaps in Coverage

Examine your policy for any exclusions that could leave you vulnerable, such as exclusions for certain high-risk activities like roofing or demolition. Ensure your policy fully covers your scope of work, including any niche services your business provides.

9. Verify Compliance with State Regulations

New York has specific insurance requirements for contractors, especially regarding workers’ compensation. Non-compliance can lead to fines, stop-work orders, or lawsuits. Review your coverage to ensure it complies with state laws and contractual obligations.

10. Work with a Specialist Broker

Not all insurance brokers understand the complexities of New York construction insurance. Working with a broker who specializes in contractors’ insurance can help ensure you get the right coverage at competitive rates, avoid costly mistakes, and stay compliant with state regulations.

BGES Group: New York’s Contractor Insurance Specialist

Renewing your general liability and workers’ compensation insurance doesn’t have to be a hassle. BGES Group, led by industry veteran Gary Wallach, specializes in helping New York contractors secure the right insurance solutions. With years of experience and deep knowledge of the construction industry, BGES Group understands the unique challenges contractors face, including labor law coverage, subcontractor verification, and audit preparation.

Whether you’re looking to renew your current policies or explore new options, BGES Group offers personalized service and tailored solutions to meet your needs. Let us help you protect your business and reduce your insurance costs.

Contact Gary Wallach at BGES Group today:

• Phone: 914-806-5853

• Email: bgesgroup@gmail.com

• Website: bgesgroup.com

Get in touch with us to ensure your business has the coverage it needs to thrive in the ever-challenging New York construction industry.

In the world of demolition, unforeseen risks and challenges are a daily reality. Demolition contractors insurance is essential for protecting your business from the myriad of liabilities that can arise. In this article, we’ll explore some crucial ways this insurance can safeguard your operations, so you can focus on what you do best.

1. Shielding Against Property Damage

Demolition projects can inadvertently cause damage to nearby structures or landscapes. Insurance ensures that such incidents do not lead to financial ruin. For instance, if a wrecking ball accidentally damages a neighboring property, the financial repercussions could be substantial. With the right demolition contractors insurance in place, you are covered for these potential liabilities. Importantly, this type of coverage not only takes care of the damages but also includes legal fees associated with any claims. This means your focus remains on your current project rather than unexpected legal battles.

Moreover, insurance can assist with onsite liabilities that might not immediately be visible. Consider hidden utility lines that are accidentally struck during a demolition. Fixing such issues can be costly, but the right insurance policy helps cover these repairs. Essentially, your demolition contractors insurance acts as a financial safety net, safeguarding your business from significant setbacks Demolition Contractors Insurance.

2. Protection from Legal Liabilities

Legal claims can arise from multiple directions, whether it’s an injured bystander or a disgruntled client. The right insurance provides legal defense and settlement support. Imagine a scenario where a pedestrian is injured by debris on the site; demolition contractors insurance steps in to cover medical expenses and legal costs. In an industry fraught with potential litigation, having monetary support for legal affairs is invaluable. This makes insurance not just a protective measure, but a strategic component in managing your business Demolition Contractors Insurance.

Errors and omissions can also lead to unwanted legal situations. Should you face a lawsuit regarding professional negligence, insurance can cover your defense and settlement fees. Especially in high-stakes demolition work, even minor oversights can spark significant disputes. With comprehensive coverage, you can navigate these legal challenges with assurance, ensuring your business remains stable and secure.

3. Safeguarding Against Equipment Breakdown

High-grade demolition equipment is costly to repair or replace. Insurance covers breakdowns, ensuring minimal disruption to your operations. Consider the financial impact if a critical piece of machinery, like an excavator or crane, becomes inoperable. Without insurance, the cost of repair or leasing alternative equipment could greatly strain your budget. However, demolition contractors insurance helps alleviate this burden, covering the expenses to get your machinery back up and running swiftly.

The benefit here also extends to safeguarding tool transit. Equipment and tools are often transported between sites, adding another layer of risk. Inland Marine Insurance, also known as Contractor’s Tool and Equipment Insurance, specifically protects these items while in transit or stored, ensuring that any damage or theft does not leave your operations in disarray. So, whether your tools are on-site or en route, they are well protected with the right insurance policy Demolition Contractors Insurance.

4. Worker Injury and Compensation Coverage

Insurance addresses medical costs or lost wages arising from on-the-job injuries, keeping your workforce healthy and operational. Given the nature of demolition work, the risk of injury is a significant concern. Workers’ compensation coverage not only protects employees by covering medical expenses and rehabilitation but also safeguards your business by minimizing the risk of expensive lawsuits. This coverage is necessary, especially since it can also alleviate tensions between employer and employee by ensuring financial support in times of need Demolition Contractors Insurance.

Furthermore, a solid workers’ compensation policy fosters employee trust and morale. When your team knows they are covered by comprehensive insurance, it creates a safer, more motivated working environment. This enhances productivity and ensures your projects remain on-schedule despite unforeseen injuries, ultimately benefiting both workers and management alike.

5. Protecting Completed Operations

Even after a project is completed, issues can arise. Insurance ensures long-term protection from claims related to completed work. Post-demolition, unseen structural instabilities might emerge, causing problems that lead to client dissatisfaction or legal claims. Through completed operations coverage, you shield your business from such retrospective claims. This specific insurance aspect is tailored to cover any problems associated with past work, giving you peace of mind and the opportunity to focus on current projects Demolition Contractors Insurance.

Beyond structural issues, environmental concerns may surface post-demolition. If allegations about improper waste disposal or contamination arise, your insurance policy can cover legal defense and potential environmental remediation costs. Thus, investing in robust insurance not only protects ongoing operations but also the integrity of activities long completed.

6. Coverage Against Natural Disasters

From unexpected storms to earthquakes, natural disasters can halt operations. Insurance mitigates these risks, helping you recover and rebuild swiftly. Mother Nature is unpredictable, and when disasters strike, demolition sites are particularly vulnerable due to their open nature and active machinery. Coverage for natural disasters ensures that clean-up, repair, and operational costs are handled without draining company reserves.

Including coverage for natural disasters in your insurance plan amplifies your business resilience against environmental challenges. This provision is crucial for maintaining project timelines and reducing the financial burden of disaster recovery, allowing you to resume work promptly and reduce client dissatisfaction due to delays BGES Group Insurance.

7. Financial Stability and Peace of Mind

Ultimately, having comprehensive insurance means you’re prepared for the unexpected, allowing your business to thrive without constant worry. By ensuring each facet of your operation—be it legal liability, employee safety, equipment functionality, or post-completion issues—is covered, insurance provides a buffer against otherwise devastating financial impacts. This stability is pivotal in maintaining your business’s reputation and operational continuity.

Furthermore, securing demolition contractors insurance elevates your standing with clients and partners. Demonstrating comprehensive coverage underscores your professionalism and commitment to best practices, fostering trust and long-term partnerships. It’s not just about mitigation; it’s about positioning your business as a leader in the demolition industry, prepared for any challenge BGES Group 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 want 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
 

When it comes to commercial general liability (CGL) insurance for New York businesses, the additional insured endorsement is a critical provision. This endorsement determines when and how liability coverage extends to third parties involved in a project, such as general contractors, property owners, or subcontractors. A key factor in shaping the wording of this endorsement is whether privity—a direct contractual relationship—is required between the insured and the additional insured.

This article will explore the differences in endorsement wording based on whether privity is required or not, and explain why this distinction is important for New York businesses.

Privity and Additional Insured Endorsements

Privity refers to a direct contractual relationship between two parties. In the context of CGL insurance, privity often determines who qualifies as an additional insured under a policy. For example, a subcontractor might be required by contract to list the general contractor or project owner as an additional insured on their CGL policy. Whether this coverage is extended depends on whether the parties have a direct contractual relationship (privity) or not.

The language in the additional insured endorsement will reflect this distinction.

Wording of Additional Insured Endorsement if Privity is Required

When privity is required, the additional insured endorsement will only extend coverage to those parties who have a direct written contract with the named insured. This means that for a general contractor or project owner to be covered under the subcontractor’s policy, there must be a formal contractual agreement between them.

Sample Wording (Privity Required):

        “The person or organization shown in the Schedule is an additional insured, but only with respect to liability for ‘bodily injury,’ ‘property damage,’ or ‘personal and advertising injury’ caused, in whole or in part, by your acts or omissions, or the acts or omissions of those acting on your behalf, in the performance of your ongoing operations, but only if the person or organization has a direct written contract with you requiring such coverage.”

This language clearly limits coverage to entities with privity, ensuring that only those with a direct contract can be added as an additional insured.

Wording of Additional Insured Endorsement if Privity is Not Required

On the other hand, if privity is not required, the endorsement can be broader, extending coverage to parties who benefit from the insured’s work even if they do not have a direct contractual relationship with the insured. This is common in complex construction projects where a subcontractor’s work may impact multiple parties, such as general contractors, property owners, and even other subcontractors.

Sample Wording (Privity Not Required):

        “The person or organization shown in the Schedule is an additional insured, but only with respect to liability for ‘bodily injury,’ ‘property damage,’ or ‘personal and advertising injury’ caused, in whole or in part, by your acts or omissions, or the acts or omissions of those acting on your behalf, in the performance of your ongoing operations, whether or not the person or organization has a direct written contract with you.”

This version of the endorsement allows for a wider range of entities to be covered, providing additional flexibility for general contractors and property owners who may not have a direct contractual relationship with every subcontractor on a project.

Why the Distinction Matters

The distinction between privity and non-privity endorsements is critical for managing risk in New York’s construction industry. If privity is required, businesses may limit their exposure to third parties, restricting additional insured coverage to only those with direct contracts. This can help control premium costs and reduce liability. However, requiring privity may leave some parties without coverage, which could lead to disputes or gaps in protection.

Conversely, non-privity endorsements offer broader coverage, making it easier for general contractors and property owners to be protected. This may increase premiums but can provide peace of mind by ensuring more comprehensive risk management.

BGES Group: Your Tri-State Construction Insurance Specialists

Navigating the complexities of additional insured endorsements and other insurance provisions can be challenging, especially in the construction industry where liability risks are high. That’s where BGES Group comes in. As specialists in construction insurance, we understand the unique needs of contractors, developers, and business owners across the Tri-State area. Whether you require workers’ compensation, general liability, or specialized coverages, we are here to provide expert guidance and competitive rates.

For more information on how we can help protect your business, contact BGES Group today:

        •         Website: www.bgesgroup.com

        •         Phone: 914-806-5853

        •         Email: bgesgroup@gmail.com

Let BGES Group ensure you have the right coverage to safeguard your projects and your 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 want 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

As a business owner in New York, New Jersey, or Connecticut, navigating the complexities of workers’ compensation insurance can be overwhelming. With rising premiums, ever-changing regulations, and the challenges of balancing payroll and employee benefits, finding the right insurance provider is crucial. At BGES Group, we specialize in workers’ compensation insurance, and we’ve helped countless businesses in the Tri-State area find better coverage at competitive rates. Whether you need a new policy or want to explore cost-saving opportunities, BGES Group is here to guide you every step of the way.

10 Problems BGES Group Can Help You Solve

    1.       High Premiums: If you’re dealing with skyrocketing workers’ compensation premiums, BGES Group can analyze your current policy and help you find more affordable options that meet your needs.

    2.       Coverage Gaps: Worried that your current policy doesn’t fully protect your business? We can identify any gaps in your coverage and recommend policies that offer comprehensive protection.

    3.       Compliance Issues: Ensuring compliance with state workers’ compensation laws can be tricky. BGES Group will help you stay compliant to avoid costly penalties and fines.

    4.       Difficulty in Handling Claims: Struggling with managing workers’ compensation claims? We provide expert guidance to help you streamline the claims process and minimize disruptions to your business.

    5.       Managing Payroll Alongside Insurance: If managing payroll and insurance feels overwhelming, we offer a solution: our program combines payroll services with workers’ compensation insurance to simplify administration.

    6.       Rising Healthcare Costs: Employee healthcare is a major expense, but our programs can include group health insurance plans that can lower costs by up to 30%. These plans are offered by well-known national carriers, but our special arrangements can offer lower rates.

    7.       Lack of Customization: Many insurance providers offer one-size-fits-all solutions. At BGES Group, we tailor policies to meet the unique needs of your business, ensuring you only pay for what you need.

    8.       Unfamiliar with High-Risk Insurance: High-risk industries like construction or manufacturing require specialized coverage. BGES Group has extensive experience working with high-risk businesses, ensuring you get the right protection.

    9.       Changing Workforce Needs: If your workforce is expanding or contracting, we can adjust your policy to keep your insurance costs aligned with your business’s needs.

    10.     Limited Access to Competitive Plans: Many small and medium-sized businesses struggle to access competitive insurance plans. Our program offers exclusive arrangements with national carriers, ensuring you get the best rates and comprehensive coverage.

Our Comprehensive Program: Payroll + Workers’ Comp + Group Health Insurance

At BGES Group, we’re proud to offer a program that combines payroll services, workers’ compensation insurance, and even group health insurance. This program provides significant savings—up to 30%—while simplifying your business’s administration. By bundling these essential services together, you not only save money but also reduce the administrative burden of managing separate services for payroll, workers’ comp, and employee benefits.

Our group health insurance plans are provided by trusted national carriers, but thanks to our program’s unique arrangements, the rates can be significantly lower than what you’d find elsewhere. It’s a win-win for your business and your employees.

Why Choose BGES Group?

BGES Group is dedicated to helping businesses in New York, New Jersey, and Connecticut secure the best workers’ compensation coverage at the best rates. With our industry expertise, personalized service, and specialized programs, you can trust us to protect your business while saving you money. Whether you’re a small business or a larger company, we have the solutions to meet your insurance and payroll needs.

Contact BGES Group for More Information

If you’re ready to explore better workers’ compensation insurance options or want to learn more about how BGES Group can help you save up to 30% through our combined services program, don’t hesitate to reach out.

Contact Gary Wallach Today:

        •         Phone: 914-806-5853

        •         Email: bgesgroup@gmail.com

        •         Website: www.bgesgroup.com

Let BGES Group provide you with the expert guidance you need to protect your business and your employees.

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 want 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

As a New York contractor, you already know how volatile the construction industry can be. One year, your insurance premiums seem manageable, and the next, you’re blindsided by a massive rate hike. This year, liability insurance rates are surging by 20% or more, and without the right approach, your broker may not be doing everything they can to ensure you’re getting the best deal. Now, more than ever, it’s crucial to bring BGES Group into the fold when getting your liability and workers’ compensation quotes.

Here’s why you need BGES Group on your team this renewal season:

1. Keep Your Current Broker On Their Toes

By bringing BGES Group in to provide a quote, you ensure that your current broker won’t get complacent. Competition drives performance, and with BGES Group as a strong contender, your broker will be forced to step up their game to earn your business.

2. Specialized Focus on New York Contractors

BGES Group specializes in providing liability and workers’ compensation insurance for New York contractors. We understand the unique challenges you face, such as compliance with strict local regulations like Labor Laws 240 and 241, and can tailor your coverage accordingly.

3. Proven Expertise in Liability Insurance

In a market where liability rates are skyrocketing, you need an insurance expert who can navigate these turbulent waters. BGES Group has years of experience securing competitive liability insurance, even in the face of steep rate increases.

4. Access to Top Insurance Markets

As a boutique firm, BGES Group has access to top insurance carriers that might not be available through your current broker. This ensures that you’re getting the best possible pricing and coverage options that suit your specific needs.

5. Personalized Service

Unlike large, impersonal agencies, BGES Group offers a boutique experience where you’re treated like a valued client. We take the time to understand your business, assess your risks, and provide customized solutions to protect your operations.

6. Dedicated Support for Labor Law Coverage

New York’s Labor Laws 240 and 241 pose significant risks to contractors. BGES Group specializes in securing the right general and umbrella liability insurance that includes critical labor law coverage, protecting you from costly claims and lawsuits.

7. Workers’ Compensation Expertise

Workers’ compensation is one of the biggest costs for contractors, and BGES Group knows how to minimize those expenses. Our expertise ensures that you get the best workers’ compensation coverage at competitive rates, helping you save on this essential coverage.

8. Aggressive Negotiation on Your Behalf

We don’t just submit applications—we aggressively negotiate with carriers to get you the best possible terms. With our knowledge of the insurance marketplace, we’re able to push for better pricing and coverage, even in a hard market.

9. Transparent Communication

BGES Group prides itself on clear, transparent communication. We’ll keep you informed every step of the way and ensure that you fully understand your options, risks, and the coverages you’re purchasing.

10. Comprehensive Solutions, Not Just Insurance Policies

With BGES Group, you’re not just getting an insurance policy. You’re getting a comprehensive risk management solution that looks at all angles of your business. From safety recommendations to insurance compliance tips, we provide you with the tools you need to protect your business and minimize risk.

This renewal season, don’t let your current broker get lazy while your premiums soar. Get BGES Group in there for a second opinion, and see how our boutique service, competitive pricing, and specialized expertise can make all the difference in protecting your business. With rates increasing by 20% or more, now is the time to take action and ensure that your insurance coverage is both comprehensive and affordable.

Contact BGES Group Today

Gary Wallach, President

Phone: 914-806-5853

Email: bgesgroup@gmail.com

Website: bgesgroup.com

Get in touch with us today to request your liability and workers’ compensation quotes, and let us help you secure the protection your business needs.

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 want 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

Navigating the world of contractor insurance can be complicated, especially in New York. With a myriad of options and requirements, it’s crucial to understand what coverage you need to protect your business. This guide aims to simplify the basics of contractor insurance in the Empire State.

What is Contractor Insurance?

Contractor insurance is a form of coverage designed to protect contractors and their businesses from a variety of risks. These risks can range from accidents at the worksite to unexpected property damage or client lawsuits. Understanding the different types of policies available is essential for selecting the right coverage for your business.

Imagine you’re working on a new project when an unexpected accident occurs, causing injury or property damage. Without the appropriate insurance, your business could face significant financial strain. This is why contractor insurance is not just a regulatory requirement in New York but a necessity for safeguarding your business against unforeseen circumstances. It acts as a protective barrier, covering costs that might otherwise jeopardize your business’s survival.

Contractor insurance also extends beyond mere damage or injury coverage. Policies can be tailored to include protection against loss of equipment, theft, or even public liability claims. In the bustling landscape of New York, where construction projects range from high-rise buildings to historical renovations, having a comprehensive insurance plan ensures you stay protected in various operational scenarios, enabling you to focus more on quality delivery and less on potential mishaps.

Types of Contractor Insurance and Their Benefits

There are several types of contractor insurance that cater to different needs. General Liability Insurance covers third-party bodily injury and property damage, while Workers’ Compensation protects employees. Other insurances, like Professional Liability and Commercial Auto Insurance, offer additional layers of protection. Knowing what each policy provides can help you make informed decisions.

General Liability Insurance is a staple in the construction industry. It protects you from the financial fallout of accidents that result in injury or damage to property, an essential buffer in the litigious climate of New York. With the city’s skyscrapers and complex projects, the slips and errors on a job site can be costly. As highlighted by experts at Allen Thomas Group, having strong insurance safeguards your business assets and reputation.

Workers’ Compensation is crucial in ensuring the well-being of your employees while protecting your business from the financial burden of workplace injuries. This coverage ensures that medical expenses and lost wages are covered, reducing the likelihood of employee lawsuits, a significant concern highlighted in the Top Contractor Insurance Mistakes to Avoid in New York.

Understanding Contractor Insurance Costs in NY

The cost of contractor insurance in New York is influenced by several factors including the size of your business, the nature of the projects you undertake, and the coverage limits you choose. It’s important to obtain multiple quotes and consider the specifics of your operations when evaluating insurance costs.

Insurance premiums in New York can be high, driven by the state’s unique risks and stringent regulatory environment. These costs can vary significantly based on factors such as the scale of construction activities and historical claim records. As noted by the Allen Thomas Group, having a comprehensive evaluation can help you tailor a policy that both meets legal requirements and suits your operational needs without overspending.

Mitigating costs involves actively engaging in loss prevention strategies. By enhancing workplace safety and training, you not only ensure the well-being of your workforce but also position yourself as a low-risk clientele, which can effectively reduce insurance premiums. Regular policy reviews, as advocated by BGES Group, help maintain alignment with your evolving business needs, ensuring cost-effective insurance protection.

Legal Requirements for Contractor Insurance in New York

New York State has specific legal requirements for contractors when it comes to insurance. Understanding these regulations is crucial, as non-compliance can lead to fines, legal issues, and damage to your business’s reputation. Staying updated with state laws ensures you maintain the necessary coverage levels.

Contractors must secure Workers’ Compensation, Disability, and General Liability Insurance to comply with New York laws. This comprehensive shield is not just a legal formality but a necessity considering New York’s dynamic and sometimes litigious construction environment. Many contractors mistakenly opt for the bare minimum coverage, which can be risky given the varied nature of projects within the state.

Compliance is more than meeting baseline requirements. As advised in resources like the New York Department of Financial Services, keeping up with legal mandates and adapting your coverage to include optional enhancements like Environmental Liability or Builder’s Risk Insurance can offer robust protection against unforeseen challenges.

Tips for Choosing the Right Insurance Policy

Selecting the right contractor insurance involves assessing your business’s specific needs and risks. Consulting with insurance professionals, comparing policy features, and reading client reviews can guide you towards making the best choice. Additionally, regularly reviewing and updating your coverage ensures continuous protection as your business evolves.

Start by identifying the common risks associated with your projects. Analyzing factors like the size of your workforce, the complexity of your operations, and historical loss data will direct you towards a policy that aligns with actual needs rather than hypothetical ones. This ensures not only compliance with legal mandates but also enhances business resilience.

Partnering with experienced insurance agents, like those at the BGES Group, can provide invaluable insights into the intricacies of New York’s construction insurance landscape. Their expertise in aligning coverage with specific business needs ensures robust protection without unnecessary costs. It’s not just about filling checkboxes; it’s about strategically securing your business future.

Making Informed Insurance Decisions for Your Contracting Business

In conclusion, contractor insurance is a fundamental part of running a successful contracting business in New York. By understanding the different types of coverage, factors that affect cost, and the importance of compliance, you can better protect your business and focus on delivering quality work to your clients.

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 want 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
 

A new study has found that the fastest-growing cost associated with cyber incidents is businesses interruption, reinforcing the need for businesses to have in place robust response and data restoration measures, particularly after a ransomware attack.

Between 2019 and 2023, the average cyber insurance claim that involved business interruption ended up costing 450% more than claims that had no lost income, according to the “2024 NetDiligence Cyber Claims Study.”

Business interruption can occur if a cyberattack like ransomware fully or partially disables a company’s operations or if a vendor suffers a cyberattack that forces the client company to suffer a loss or inability to operate.

The latter, known as “contingent business interruption,” can occur if a cyberattack cripples a supplier’s factory from producing a part that’s crucial for another company’s production operation.

The study also found that if business interruption is involved, the cost of all parts of a claim, such as crisis services and recovery costs, also increase.

For claims with no business interruption losses, the average cost of a cyber claim for small and mid-sized enterprises (SMEs) between 2019 and 2013 was as follows:

• Crisis services: $96,000
• Regulatory and legal: $24,000
• Total incident cost: $205,000

However, for SME claims with a business interruption component during the same period, average costs were*:

• Business interruption: $487,000.
• Crisis services: $279,000
• Recovery expense: $115,000
• Total incident cost: $995,000

* There was no information on regulatory and legal costs for these types of claims.

For large companies, the average business interruption cost was $26 million, with total incident costs averaging $36 million in 2019-2023.

What you can do

First: Ensure that you have in place systems, policies and training to reduce the chances of your organization being hit by a cyberattack.

One of the study authors noted that many companies he deals with are woefully unprepared for a cyber event-caused business interruption.

“We continue to see SME clients transform their businesses to be more reliant on digital systems while failing to understand the inherent risks that come from complex digital ecosystems,” said Alden Hutchison, principal of global consulting firm RSM US LLP. 

“This becomes very evident during the recovery process for a client where it’s clear they haven’t planned for resilience in their digital platform nor practiced operating their business processes during a crisis scenario,” he explained.

Experts recommend:

Disconnecting all networks. As soon as a threat is discovered, disconnect every vulnerable device from your network in order to keep the attack from spreading.

Regular back-ups. Back up critical data to a secure, offsite location to enable swift recovery in case of a cyberattack. Even better: Download your data on a daily basis to a hard drive that is not connected to you database or the internet.
But beware: Ransomware can have dwell times as long as six months, so malware might have been included in your archival backups. Before restoring, run an anti-malware package on all systems and drives.

Detailed planning. Create a detailed plan outlining response procedures to a cyberattack, including roles, responsibilities, and data recovery and restoration strategies. Also, prioritize in advance what data or systems needs to be recovered first, and when.

Continuous monitoring. Continuously monitor network traffic for suspicious activity to detect potential threats early and before they spread and threaten to take your entire system down.

Cyber coverage

Finally, you should have in place a cyber insurance policy. Most policies include coverage for both business interruption due to an event on your systems and contingent business interruption for a cyber event at a vendor or supplier.

You can often work with us to tailor-make your cyber policy to ensure it would cover your business’s specific needs.

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 want 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
###

As a New York contractor, you’ve got enough headaches to deal with—delayed deliveries, tight deadlines, and that one worker who somehow always manages to drop a hammer on his foot. But if your workers’ compensation insurance company is giving you more grief than the entire crew combined, it’s time to make a change. Let BGES Group step in and find you better coverage with less stress. Here are 10 funny but totally solid reasons why.

    1.       Your Current Agency Doesn’t Answer Their Phones

Let’s face it: nothing says “great customer service” like getting voicemail every time you call. If you’re starting to wonder if your insurance company even owns a phone, let BGES Group handle it. We actually answer our phones, and yes, real people (not robots) will be on the other end!

    2.       Their Staff is as Green as Freshly Poured Concrete

You asked a basic question about your policy, and they responded with, “Let me Google that for you.” If your current agency’s staff is still figuring out the difference between a general contractor and a sub, it’s time to switch to BGES Group, where insurance expertise is as strong as your job-site foundations.

    3.       They Add More Fees Than a Manhattan Restaurant

“Service fee,” “processing fee,” “admin fee”—sound familiar? If your workers’ comp policy has more hidden charges than your last dinner bill, BGES Group will cut through the nonsense. No ridiculous, excessive fees here—just honest pricing with none of the fine print trickery.

    4.       You Can’t Stand Doing Audits, and Your Company Wants a Full Financial Autopsy

Every year, the dreaded workers’ comp audit rolls around, and your insurer demands every financial document since the dawn of time. If you’re tired of digging through piles of paperwork like you’re Indiana Jones looking for hidden treasure, let BGES Group take the hassle out of it. We help simplify the audit process so you can focus on building, not bookkeeping.

    5.       Your Claims Process Feels Like a Reality Show Challenge

Trying to get a claim processed with your current insurer is like navigating an obstacle course. First, you need to find the right form, then fill it out without tripping over the legal jargon, and finally, submit it without losing your sanity. At BGES Group, we believe insurance claims should be as smooth as freshly laid asphalt—no hurdles or hoops to jump through.

    6.       Their Premiums Rise Like New York Skyscrapers

You thought you locked in a decent rate, but your premiums have skyrocketed faster than new luxury condos in the city. If your workers’ comp insurer’s rates are climbing higher than your scaffolding, BGES Group will find you competitive pricing that doesn’t hit your wallet like a wrecking ball.

    7.       Their Policy Explanations Are as Clear as NYC Parking Rules

“Wait, I’m covered for what now?” If your policy reads like a legal novel and you’re never quite sure what’s included, it’s time to work with BGES Group. We break it down in contractor-friendly terms, so you know exactly what you’re getting.

    8.       Your Agent Acts Like They’re Doing You a Favor

When you call for help, you get the sense your agent is doing you a massive favor just by speaking to you. If your current insurance company treats you like they’re the boss, it’s time to switch to BGES Group. We know you’re the client, and we work hard to make sure you’re treated that way.

    9.       You’re Tired of the “Surprise! You Owe Us More” Routine

Every time you turn around, there’s a new bill, a higher premium, or some added charge for something you didn’t even know existed. BGES Group believes in transparency—you’ll know exactly what you’re paying and why, so there are no unpleasant surprises.

    10.     You’d Rather Do Anything Than Deal with Another Audit Request

Your current insurer’s audit requirements have you gathering financial data for hours, sweating over spreadsheets, and digging through receipts like you’re preparing for a tax audit from the IRS. If you’re just plain tired of it, BGES Group is here to rescue you from the audit agony.

If you’re nodding your head (and maybe laughing a bit) as you read these reasons, then you know it’s time for a change. BGES Group specializes in finding better workers’ comp insurance for contractors who are tired of the runaround, hidden fees, and endless paperwork. Let us take the hassle out of your insurance, so you can get back to doing what you do best—building New York.

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 want 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