As a New York contractor, managing your expenses is critical to staying competitive in a challenging industry. One area where contractors often struggle is the cost of workers’ compensation insurance. Premiums can be a significant financial burden, but with the right strategies and guidance, you can minimize these costs without sacrificing coverage. In this article, we’ll explore actionable steps contractors can take to reduce workers’ compensation premiums and why working with an experienced broker like BGES Group can make all the difference.

1. Understand Rate Structures Across Insurance Companies

Insurance companies use varying rate structures based on their risk assessments and underwriting practices. For contractors, this means that the cost of workers’ compensation insurance can differ significantly from one insurer to another.

A skilled insurance broker who knows these rate differences can help you secure the best price. Instead of overpaying with a company that has higher rates for your specific class codes, an experienced broker will shop around, compare rates, and negotiate on your behalf. This expertise ensures you don’t miss out on competitive pricing that fits your business needs.

2. Leverage Stock Discounts for Larger Premiums

If your business has a sizable workers’ compensation premium, you may qualify for a stock discount offered by certain insurance carriers. These discounts reward larger policyholders with reduced rates as part of group plans or carrier-specific programs.

This can be an excellent cost-saving opportunity, but eligibility and the extent of the discount depend on factors like premium size and claim history. A broker with experience in workers’ compensation can identify whether you qualify and guide you in taking advantage of these benefits.

3. Utilize the Payroll Cap for Construction Class Codes

New York State applies payroll caps to certain construction class codes when calculating workers’ compensation premiums. This payroll cap limits the amount of an employee’s wages that are used for premium calculations, helping reduce overall costs.

For example, if the payroll cap is set at $1,750 per week for a specific class code, wages above that cap are not factored into your workers’ compensation premium. Understanding how to correctly apply payroll caps to your business operations can significantly impact your total costs.

4. Take Advantage of the New York CPAP Credit

The New York Construction Premium Adjustment Program (CPAP) credit is a valuable tool for contractors to reduce their workers’ compensation premiums. This credit benefits businesses that pay higher wages to employees in specific construction roles.

To qualify, you need to submit payroll information to demonstrate compliance with the program’s requirements. The CPAP credit is designed to reward fair wage practices while simultaneously lowering your insurance costs. A knowledgeable broker can help ensure you receive this credit by assisting with documentation and submission.

5. Explore Additional Credits and Discounts

Beyond stock discounts and the CPAP credit, many insurance companies offer other credits and discounts to contractors, such as:

• Safety Program Credits: By implementing workplace safety programs and maintaining low claim histories, you may qualify for discounts.

• Drug-Free Workplace Credits: Encouraging a drug-free work environment can reduce your premiums.

• Group Membership Discounts: Joining industry associations or affinity groups may unlock special rates.

• Experience Modification Rate (EMR) Management: Keeping your EMR below 1.0 through a strong safety culture and timely claim management will lower your premiums over time.

6. Partner with an Expert Broker Like BGES Group

Navigating the complexities of workers’ compensation insurance is no small task, especially when dealing with the nuances of New York’s regulatory environment. That’s where BGES Group excels.

At BGES Group, we specialize in workers’ compensation for contractors. We represent most of the programs available in New York, giving us unparalleled insight into rates, discounts, and credits that can reduce your premiums. Whether you’re a small subcontractor or a large general contractor, we know how to customize solutions that fit your unique needs.

In addition to workers’ compensation, BGES Group also offers programs for:

• Auto service businesses

• Limousine services

• Manufacturers

• Moving and storage agents

• Truckers

• And many other industries

Why Choose BGES Group?

With decades of experience and a commitment to personalized service, BGES Group goes beyond providing insurance policies—we become your partner in managing risk and reducing costs. Here’s why contractors trust us:

• Extensive Market Access: We represent the most comprehensive range of insurance programs in the market.

• Tailored Solutions: Every contractor is different, and we customize our approach to meet your needs.

• Expert Guidance: From payroll caps to CPAP credits, we ensure you take advantage of every cost-saving opportunity.

Contact BGES Group Today

Ready to lower your workers’ compensation premium and get the coverage your business needs? Reach out to BGES Group today to start the conversation.

Phone: 914-806-5853

Email: bgesgroup@gmail.com

Website: www.bgesgroup.com

Reducing your workers’ compensation premium is achievable with the right strategies and support. By understanding the available credits, payroll caps, and rate structures, and by partnering with BGES Group, you can secure competitive pricing and gain peace of mind knowing your business is well-protected. Reach out today and let BGES Group show you why we’re the go-to insurance experts for New York contractors and beyond!

As a contractor, navigating the risks associated with running a construction business is critical to your long-term success. Accidents, property damage, and lawsuits can quickly drain resources and impact your operations. That’s where a Commercial General Liability (CGL) policy becomes invaluable. This essential insurance safeguards your business against a wide array of liabilities, ensuring you can focus on your projects while staying financially protected.

In this article, we’ll explain how a CGL policy works for contractors, discuss ten types of claims it typically covers, and outline how much coverage you can obtain. Additionally, we’ll explore the benefits of a Commercial Umbrella Liability Policy for added protection and highlight how BGES Group, one of the Tri-State area’s construction insurance specialists, can help you secure the best coverage.

What Does a Commercial General Liability Policy Cover?

A CGL policy provides contractors with financial protection against third-party claims arising from bodily injuries, property damage, and personal or advertising injuries. This policy is a cornerstone of a contractor’s risk management strategy, covering both legal defense costs and damages that the contractor may be legally obligated to pay.

Whether you’re a general contractor, subcontractor, or specialty contractor, a CGL policy ensures you can handle unforeseen claims without jeopardizing your financial stability.

Ten Types of Claims Covered Under a CGL Policy

Here are ten common types of claims that may be covered under a contractor’s CGL policy:

1. Bodily Injury to a Third Party

If someone visiting your job site slips, trips, or falls and gets injured, your CGL policy can cover medical expenses and potential lawsuits.

2. Property Damage

Accidental damage caused to a client’s property, such as breaking a window or damaging a neighboring structure during construction, can be covered.

3. Completed Operations Liability

If work you’ve completed causes damage or injury after the project’s completion, your CGL policy provides coverage.

4. Premises Liability

If a visitor to your office or workshop is injured due to unsafe conditions, your policy may cover their medical expenses or legal claims.

5. Products Liability

Coverage applies if a product you’ve installed or supplied causes harm, such as a faulty electrical system that results in a fire.

6. Personal Injury Claims

Allegations of defamation, libel, or slander made against your business may be covered.

7. Advertising Injury Claims

Claims related to copyright infringement, trademark issues, or false advertising involving your business can also be included.

8. Contractual Liability

Coverage extends to liabilities you’ve assumed in contracts, such as indemnification agreements with clients.

9. Fire Legal Liability

If you rent office space and accidentally cause a fire, your CGL policy may cover the damages to the landlord’s property.

10. Pollution Liability (Limited)

Certain accidental pollution incidents, such as spilling a small amount of hazardous material, may be covered, depending on the policy.

How Much Liability Coverage Can You Get?

Most CGL policies offer coverage limits ranging from $1 million to $2 million per occurrence, with aggregate limits that can go higher. These limits define the maximum amount the insurer will pay for a single claim or all claims within the policy period.

However, in high-risk industries like construction, even these limits might not be sufficient to cover potential losses. For example, a major accident involving multiple injuries or significant property damage could exceed your policy limits, leaving your business vulnerable.

Enhancing Coverage with a Commercial Umbrella Liability Policy

To bolster your financial protection, you can purchase a Commercial Umbrella Liability Policy. This policy provides an additional layer of coverage that kicks in once the limits of your underlying CGL policy are exhausted.

Benefits of a Commercial Umbrella Liability Policy include:

1. Higher Coverage Limits

Umbrella policies often provide millions of dollars in additional protection, ensuring your business can handle even catastrophic claims.

2. Broader Coverage

These policies may extend coverage to certain risks not included in your primary CGL policy.

3. Cost-Effective Protection

Umbrella policies are typically affordable compared to the potential costs of a high-value claim.

For example, if your CGL policy has a $2 million limit and a claim requires $3 million to resolve, your umbrella policy can cover the additional $1 million.

Why Choose BGES Group for Your Insurance Needs?

Navigating the complexities of construction insurance requires a specialist who understands the industry’s unique challenges. That’s where BGES Group excels.

As one of the Tri-State area’s leading construction insurance specialists, BGES Group has a proven track record of helping contractors secure tailored insurance solutions. Here’s why contractors trust BGES Group:

1. Industry Expertise

With years of experience in construction insurance, BGES Group understands the specific risks contractors face and can recommend the right policies to protect your business.

2. Customized Coverage

BGES Group works with top-tier insurance carriers to create policies that fit your business’s needs and budget.

3. Boutique-Like Service

Clients benefit from personalized attention and support throughout the policy selection and claims process.

4. Competitive Pricing

BGES Group leverages its industry relationships to secure competitive rates without compromising coverage quality.

5. Comprehensive Solutions

In addition to CGL and umbrella policies, BGES Group offers workers’ compensation, payroll services, and group health insurance programs for contractors.

Contact BGES Group Today

Don’t let unexpected claims put your business at risk. Let BGES Group help you secure the comprehensive coverage you need to safeguard your contracting business.

Contact Gary Wallach at BGES Group to get started:

• Phone: 914-806-5853

• Email: bgesgroup@gmail.com

• Website: bgesgroup.com

Final Thoughts

A Commercial General Liability policy is a must-have for contractors looking to protect their business from financial ruin caused by third-party claims. Coupled with a Commercial Umbrella Liability policy, you can gain peace of mind knowing your business is prepared for even the most significant risks.

Turn to BGES Group, your trusted partner for construction insurance in the Tri-State area. With their expertise and commitment to client success, BGES Group ensures your business gets the coverage it needs to thrive in today’s competitive environment. Reach out today and take the first step toward securing your business’s future.

If you’re a contractor in the Tri-State area—New York, New Jersey, or Connecticut—dissatisfied with your current workers’ compensation insurance provider, it’s time to consider BGES Group. Specializing in high-risk contractors, including those in demolition, roofing, and asbestos abatement (up to 5%), BGES Group offers tailored solutions to meet your specific needs.

10 Reasons to Choose BGES Group’s Workers’ Compensation Program:

1. Competitive Rates: Benefit from affordable premiums without compromising coverage quality.

2. Proper Classification of Payrolls: Ensure accurate payroll classifications to avoid unnecessary expenses.

3. Pay-As-You-Go: Manage cash flow effectively with premiums based on actual payroll, reducing large upfront costs.

4. Simplified Audits: Experience streamlined audit processes, minimizing administrative burdens.

5. Multi-State Coverage: Obtain comprehensive coverage across multiple states, ideal for businesses operating in NY, NJ, and CT.

6. No Renewal Deposits: Eliminate the need for annual renewal deposits, simplifying your financial planning.

7. Fast Issuance of Certificates: Receive insurance certificates promptly, facilitating uninterrupted business operations.

8. Responsive Service: Work with a firm that answers their phone promptly, providing immediate assistance when needed.

9. Boutique Service Experience: Enjoy personalized, mom-and-pop boutique-style service that prioritizes your business needs.

10. Expertise in Construction Insurance: Leverage BGES Group’s extensive knowledge in various construction insurance coverages to protect all aspects of your business.

As one of the Tri-State area’s workers’ compensation insurance specialists, BGES Group is dedicated to providing exceptional service and customized insurance solutions for high-risk contractors.

Contact Information:

• Phone: (914) 806-5853

• Email: bgesgroup@gmail.com

• Website: www.bgesgroup.com

For more information or to request a quote, visit their website or contact Gary Wallach directly at the phone number above.

New York contractors face unique challenges when it comes to insurance coverage due to the state’s strict Labor Laws 240 and 241. These laws, often referred to as the “Scaffold Law,” impose absolute liability on contractors and property owners for certain construction-related injuries. Without proper liability coverage, these laws can expose contractors to devastating financial risks.

What Are Labor Laws 240 and 241?

• Labor Law 240: Commonly known as the Scaffold Law, Labor Law 240 requires contractors and property owners to provide workers with proper safety equipment to prevent falls from heights. This law applies to activities such as erecting, demolishing, repairing, altering, painting, cleaning, or pointing a building or structure. If a worker falls or is struck by a falling object due to inadequate safety measures, the contractor or owner can be held strictly liable, regardless of the worker’s actions.

• Labor Law 241: This law imposes safety requirements on construction, excavation, and demolition sites to protect workers. It mandates compliance with specific safety standards set by the New York Industrial Code. Unlike Labor Law 240, liability under Labor Law 241 is not absolute; however, it still places a significant burden on contractors and property owners.

Why Is Labor Law Coverage a Problem Only in New York?

New York is the only state with laws as stringent as Labor Laws 240 and 241, where absolute liability applies, even if the worker’s negligence contributed to the accident. This unique legal landscape has driven up liability insurance costs for contractors, as insurance carriers face substantial risks in covering these claims.

The cost of liability insurance for New York contractors, especially those requiring Labor Law 240 and 241 coverage, has become exorbitant. In some cases, premiums have doubled or even tripled in recent years, forcing contractors to either absorb the cost or seek specialized brokers who understand the market.

Five Examples of Labor Law Claims

1. Worker Falls from a Scaffold: A painter falls from a poorly secured scaffold while working on the exterior of a building, resulting in severe injuries. The contractor is held liable under Labor Law 240.

2. Falling Object Injury: A construction worker is struck by a falling tool that wasn’t properly secured, leading to a head injury. The contractor is found liable due to inadequate safety measures.

3. Ladder Collapse: A roofer uses a defective ladder provided by the contractor, which collapses during use, causing multiple fractures. This triggers absolute liability under Labor Law 240.

4. Trench Cave-In: A worker is injured in a trench collapse due to insufficient shoring, violating Labor Law 241 safety regulations.

5. Unsecured Building Materials: A carpenter working at ground level is injured by a falling beam from an upper floor, leading to a claim under both Labor Law 240 and 241.

Three Claims Excluded Without Labor Law Coverage

1. Worker Falls from a Roof: A subcontractor’s employee falls from an unprotected roof edge. Without Labor Law coverage, the contractor’s general liability policy would exclude this claim.

2. Injury from Unsafe Scaffolding: A worker is seriously injured when a scaffold collapses due to improper assembly. Without the proper endorsement, this claim would not be covered.

3. Violation of Safety Standards: A contractor fails to provide adequate lighting on a construction site, resulting in a worker tripping and sustaining injuries. General liability policies without Labor Law coverage would exclude this claim.

Why Choose BGES Group?

Navigating New York’s complex construction insurance market requires expertise. BGES Group specializes in providing contractors with tailored insurance solutions, including liability policies that include Labor Law 240 and 241 coverage. With deep knowledge of the challenges New York contractors face, BGES Group ensures you have the protection you need at competitive rates.

Contact BGES Group

For expert assistance in obtaining Labor Law liability coverage, contact Gary Wallach at BGES Group:

• Phone: 914-806-5853

• Email: bgesgroup@gmail.com

Website: www.bgesgroup.com

Don’t let New York’s Labor Laws put your business at risk. Call BGES Group today for comprehensive, cost-effective insurance solutions!

Workers’ Compensation Insurance is a vital safeguard for businesses and employees alike. In New York State, it’s not just a legal requirement—it’s an essential layer of protection against unforeseen circumstances. This article will explore what workers’ compensation insurance covers, its benefits, employer liability insurance, and why BGES Group stands out as one of New York State’s leading specialists in this field.

What Does Workers’ Compensation Insurance Cover in New York State?

Workers’ compensation insurance in New York provides financial and medical benefits to employees who suffer injuries or illnesses arising out of and in the course of their employment. Here’s what it typically covers:

1. Medical Expenses:

• Covers hospital bills, doctor visits, surgeries, physical therapy, prescription medications, and any other necessary medical treatments related to the injury or illness.

2. Lost Wages:

• Compensates employees for a portion of their lost income during recovery.

• Payments are calculated as two-thirds of the employee’s average weekly wage, up to the maximum weekly benefit set by the New York State Workers’ Compensation Board.

3. Disability Benefits:

• Temporary Partial Disability (TPD): Benefits for employees who can work but only in a reduced capacity.

• Temporary Total Disability (TTD): For employees who cannot work temporarily.

• Permanent Partial Disability (PPD): Covers long-term impairments.

• Permanent Total Disability (PTD): Compensation for injuries rendering employees permanently unable to work.

4. Death Benefits:

• Provides financial support to dependents of an employee who dies due to a work-related injury or illness.

• Includes funeral and burial expenses up to $12,500 in New York City and $10,500 elsewhere in the state.

5. Vocational Rehabilitation:

• Assistance with retraining or re-entering the workforce if an employee cannot return to their previous job.

Benefits of Workers’ Compensation Insurance

Workers’ compensation insurance benefits employees and employers by ensuring a fair resolution to workplace injuries. Below are the key advantages:

For Employees:

• Prompt medical attention and coverage.

• Financial security during recovery.

• Reduced need for litigation to receive benefits.

For Employers:

• Compliance with state laws, avoiding fines and penalties.

• Protection from most employee injury-related lawsuits.

• Preservation of employee morale by demonstrating care and accountability.

Details on Wage Replacement and Deductibles

In New York State, wage replacement benefits vary based on the severity of the injury:

• Temporary Disability: Two-thirds of the employee’s average weekly wage, capped at the maximum benefit set annually by the state. For 2024, the maximum benefit is $1,145.43 per week.

• Duration of Benefits: Payments continue as long as the employee is unable to work, up to the limits outlined for temporary or permanent disability categories.

Unlike some insurance types, workers’ compensation policies generally do not include deductibles for employees seeking care or wage replacement.

Employer’s Liability Insurance: What Does It Cover?

Employer’s liability insurance is often bundled with workers’ compensation coverage. It protects employers against lawsuits filed by employees for workplace injuries not fully covered by workers’ compensation. Here’s what it includes:

1. Third-Party Claims:

• If an injured employee sues a vendor or contractor, and the contractor sues the employer for negligence, employer’s liability insurance steps in.

2. Loss of Consortium Claims:

• Covers lawsuits from family members of injured employees for the loss of companionship or support.

3. Dual Capacity Claims:

• Protects employers if employees claim injuries due to a product or equipment provided by the employer.

4. Cross-Liability Claims:

• Protects against legal actions between employees and employers under certain conditions.

Employer’s liability insurance limits typically range from $100,000 to $1 million per occurrence, depending on the policy.

Why BGES Group is Your Workers’ Compensation Specialist

At BGES Group, we pride ourselves on being one of New York State’s top workers’ compensation specialists. Here’s why businesses across various industries trust us:

1. Customized Programs for Every Industry:

We offer tailored workers’ compensation insurance programs for contractors, auto services, manufacturers, truckers, limousine services, moving and storage agents, and higher-risk contractors like asbestos removal and roofing.

2. Comprehensive Services:

• Beyond insurance, we provide payroll services and group health insurance as part of a holistic risk management approach.

• Nationwide assistance is available for contractors, with a dedicated manager to ensure personalized support outside the Tri-State area.

3. Expertise You Can Count On:

With decades of experience, we understand the nuances of New York State labor laws and workers’ compensation requirements, ensuring you stay compliant and protected.

4. Boutique-Like Service:

We offer the personal touch of a boutique agency, providing competitive pricing and unmatched attention to detail.

5. Proven Track Record:

Our clients consistently praise our dedication and expertise, as seen in our glowing Google reviews.

Contact BGES Group for Your Workers’ Compensation Needs

Whether you’re a small business owner or managing a large operation, workers’ compensation insurance is critical to your success. Let BGES Group help you navigate this essential coverage and find the best solutions for your industry.

For assistance, contact Gary Wallach at:

• Phone: 914-806-5853

• Email: bgesgroup@gmail.com

• Website: www.bgesgroup.com

At BGES Group, we’re not just insurance providers; we’re your partners in protecting your workforce and business. Reach out today to experience the BGES Group difference.

Navigating the world of insurance can be challenging, particularly when it involves specific requirements like workers’ compensation. In New York, workers comp insurance is a crucial aspect for employers and employees alike. This guide will delve into what workers comp insurance is and why it is essential in New York.

What is Workers Comp Insurance?

Workers comp insurance is a type of coverage that provides benefits to employees who suffer work-related injuries or illnesses. It acts as a financial safety net for both employers and employees, ensuring that when accidents happen, injured workers receive medical care, and employers are shielded from costly lawsuits. In essence, it’s a contractual agreement where the insurer pays for the injured worker’s medical bills, rehabilitation, and a portion of lost wages in exchange for relinquishing the right to sue the employer.

In New York, workers comp insurance is mandatory for most businesses, regardless of size or industry. This requirement stems from the need to protect the workforce from financial instability due to work-related accidents. For instance, workers in high-risk jobs like construction or logistics are more prone to accidents, making this insurance indispensable.

Key Benefits of Workers Comp Insurance

This insurance helps cover medical expenses, wage replacement, rehabilitation costs, and legal fees associated with workplace injuries. For employees, the benefits extend beyond immediate medical care to include long-term support, such as coverage for physical therapy and vocational training if an injury prevents them from returning to their previous role. This ensures a smooth transition back into the workforce, promoting stability and peace of mind.

For employers, having workers comp insurance acts as a buffer against potential financial liabilities that could arise from workplace accidents. It reduces the risk of facing legal battles that could be both time-consuming and expensive. Furthermore, it enhances the company’s reputation as a responsible employer, showing commitment to employee welfare.

Legal Requirements in New York

New York mandates that all businesses with employees must carry workers comp insurance to comply with state laws. This requirement is non-negotiable and applies to full-time, part-time, and even temporary staff under certain conditions. Failure to comply can lead to severe penalties, including hefty fines and potential criminal charges, not to mention the loss of reputation and trust among clients and employees.

The state has stringent guidelines on what constitutes a work-related injury and the procedures for claiming benefits. Employers are responsible for ensuring they have the right policies in place and understanding these regulations thoroughly to stay compliant. Regular audits and updates to policies must be conducted to adapt to any legal changes.

Who Needs Workers Comp Insurance?

Employers in various industries, from construction to retail, must understand their obligations under workers comp laws to protect their workforce. Even small businesses, which may assume they are exempt, are usually required to carry this insurance in New York, enhancing workplace safety and employee trust.

Moreover, independent contractors working with these employers often benefit indirectly from workers comp policies, as companies ensure all personnel on-site are covered for liabilities. Understanding these nuances ensures businesses can protect themselves and their workers effectively.

How to Obtain Workers Comp Insurance in New York

Identifying the right provider and understanding policy options are crucial steps in securing appropriate workers comp insurance. Many employers opt to work with agents like BGES Group, who specialize in construction insurance across New York and can offer tailored advice and solutions.

The process typically involves assessing potential risks in the workplace, comparing premiums from various insurers, and selecting a policy that matches both legal requirements and budget constraints. For businesses looking to streamline this process, working with a specialized broker can provide access to exclusive insurance programs and save considerable time and money.

In Essence: Protecting Workforces with Workers Comp Insurance

Understanding workers comp insurance and its necessity in New York can seem daunting, but it’s a critical aspect of protecting both employers and employees. By following the outlined steps, you can ensure compliance with state regulations and provide necessary protection for all parties involved.

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
 

An allegedly Chinese state-sponsored hacker campaign dubbed “Salt Typhoon” has infiltrated major cell phone providers, including AT&T and Verizon, potentially exposing your company’s communications to threat actors.

The attack has been described as the most significant telecommunications hack in U.S. history. While the breach is alarming for individuals, the implications for businesses are profound and demand immediate attention.

What is Salt Typhoon?

Salt Typhoon is a sophisticated cyber-espionage operation allegedly orchestrated by the Chinese government. The campaign has targeted vulnerabilities in telecom providers’ infrastructure to access text messages, monitor communications and extract sensitive metadata.

The ongoing breach has affected at least eight major U.S. telecom companies and poses a severe threat to national security and corporate privacy.

Potential dangers to businesses

1. Exposure of sensitive information
   
   Text messages often contain business-critical details, such as contracts, client discussions, or even login credentials. If these communications are intercepted, companies risk financial loss, reputational damage and legal consequences.
2. Corporate espionageCompetitors or foreign entities gaining access to a company’s internal strategies could result in lost market advantages or intellectual property theft.
3. Regulatory and legal repercussionsMany industries are subject to strict data protection laws. A breach exposing customer or employee information could lead to fines and legal actions under regulations such as GDPR or CCPA.
4. Erosion of trustBusiness partners and clients may lose confidence in a company’s ability to safeguard information, leading to strained relationships and loss of business opportunities.

Government warning

In response to the Salt Typhoon campaign, the U.S. government issued strong recommendations for using end-to-end encrypted communication platforms.

Unlike standard text messaging or phone calls, end-to-end encryption ensures that only the sender and recipient can read the messages, preventing interception even if a network is compromised.

Apps like WhatsApp and Signal, and corporate platforms such as Microsoft eams and Zoom with encryption features have been singled out as secure alternatives. In contrast, traditional SMS and non-encrypted messaging services remain vulnerable.

For businesses, adopting these recommendations is a necessity. The FBI and the Cybersecurity and Infrastructure Security Agency have emphasized that sensitive communications must migrate to encrypted platforms to mitigate risks from ongoing cyber threats.

Protecting your firm

Protecting your business from the fallout of attacks like Salt Typhoon requires a multi-layered approach. Here are some critical steps:

• Use encrypted messaging: In light of the official recommendations above, shift all internal and external communications to end-to-end encrypted platforms such as Signal or WhatsApp, or enterprise solutions with encryption features.
• Eliminate SMS-based authentication: Avoid using text-based, one-time passwords for authentication; instead, deploy hardware security keys or app-based authenticators.
• Update systems regularly: Ensure all devices and software are updated to patch known vulnerabilities.
• Train employees: Conduct regular cyber-security training to educate employees about phishing, secure communications and device management.
• Limit data access: Implement least-privilege access controls to restrict sensitive data to only those who need it.
• Conduct security audits: Regularly audit your infrastructure for vulnerabilities. Engage third party experts to perform penetration tests and simulate attacks to identify and address weak points.

Finally, you should have in place a robust cyber-insurance policy, which can help mitigate the financial impact of a breach. A comprehensive policy should cover:

• Forensic investigations
• System remediation and restoration
• Legal and regulatory compliance
• Business interruption losses.

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

Are you a Tri-State business owner tired of dealing with frustrating workers’ compensation insurance problems? BGES Group specializes in solving the challenges others can’t, offering expert solutions and access to over 15 top-rated insurance carriers. Here’s how BGES Group can help:

10 Problems BGES Group Can Solve for Tri-State Business Owners

1. High Rates

Are your workers’ compensation premiums skyrocketing? BGES Group will shop your policy with multiple carriers to secure the most competitive pricing available.

2. Large Additional Premium Bills Due to Audits

Tired of surprise bills after your audit? We help you prevent audit issues by ensuring accurate payroll classifications and proactive policy management.

3. Sick of Invasive Annual Audits

Annual audits can be intrusive and stressful. BGES Group simplifies the process, helping you navigate audits efficiently while reducing stress.

4. Policy Cancellations or Non-Renewals

Facing cancellation or non-renewal? BGES Group works quickly to find you a reliable carrier and avoid coverage gaps that could disrupt your business.

5. Payroll Misclassification Issues

Payroll misclassifications lead to unnecessary costs. Our specialists ensure your payroll is classified correctly, potentially saving you thousands.

6. Need Out-of-State Coverage

Does your current carrier restrict out-of-state operations? BGES Group offers solutions for businesses requiring workers’ comp coverage across state lines.

7. Delays in Getting Certificates

Waiting forever for certificates of insurance? Our streamlined process ensures you receive certificates quickly, so your business isn’t delayed.

8. Poor Claims Service

When you have a claim, do you feel neglected? BGES Group partners with carriers known for their superior claims handling and responsiveness.

9. Extra Policy and Service Fees

Some brokers tack on unnecessary fees. At BGES Group, transparency is key—no hidden charges or unwarranted service fees.

10. Unhappy with Your Payroll Workers’ Compensation Company

Unsatisfied with your current payroll and workers’ comp setup? BGES Group offers specialized programs that combine payroll services and workers’ compensation insurance to better suit your business needs.

Why BGES Group?

We are workers’ compensation specialists with over 15 top carriers, enabling us to solve issues that other brokers cannot. Whether you’re a contractor, manufacturer, trucking company, or operate in another industry, our expertise and boutique-like service set us apart.

Keywords for Workers’ Compensation Insurance Searches

• Workers’ compensation insurance specialists

• Best workers’ comp insurance companies

• Competitive workers’ compensation rates

• Workers’ compensation for contractors

• Tri-State business insurance solutions

• Affordable workers’ compensation policies

Contact BGES Group Today

Don’t let workers’ compensation challenges hold your business back. Contact Gary Wallach today to learn how we can provide better coverage at competitive pricing.

Phone: 914-806-5853

Email: bgesgroup@gmail.com

Website: www.bgesgroup.com

As a New York contractor, your business vehicles are not just transportation—they are critical tools that support your daily operations. Protecting them with the right business auto insurance is essential for mitigating risks and safeguarding your bottom line. When purchasing coverage, you’ll need to consider the types of protection and limits that ensure adequate financial security in the event of an accident or other mishap.

Below, we explore the key coverages and limits contractors should prioritize, including additional options that can provide peace of mind. We also address the importance of conducting due diligence on drivers to avoid future complications.

1. Essential Coverages for Business Auto Insurance

a. Liability Coverage

Liability insurance is the cornerstone of any auto policy. It covers bodily injury and property damage that you or your employees cause while operating a business vehicle.

• Recommended Limits: New York contractors should aim for at least $1,000,000 combined single limit (CSL). For larger contractors or those working on higher-risk projects, higher limits may be necessary to meet contractual requirements or protect assets.

b. Uninsured Motorist (UM) Coverage

This coverage steps in if you or your employees are injured in an accident caused by a driver without insurance. In a state like New York, where uninsured drivers still pose a risk despite mandatory insurance laws, UM coverage is vital.

• Recommended Limits: Match your liability limits, ensuring sufficient protection for severe injuries or accidents.

c. Underinsured Motorist (UIM) Coverage

If an at-fault driver has insurance but their policy limits are too low to cover all damages, UIM coverage bridges the gap. This is particularly important for contractors who may face significant medical or repair costs after an accident.

d. No-Fault (Personal Injury Protection) Coverage

In New York, no-fault insurance—also called Personal Injury Protection (PIP)—is mandatory. It covers medical expenses, lost wages, and other costs for you and your passengers, regardless of who caused the accident.

• Minimum Requirement: $50,000 in PIP coverage is required by law, but higher limits may be advisable to protect against escalating medical costs.

2. Additional Coverages to Consider

a. Drive Other Car (DOC) Coverage

If you or your employees occasionally drive personal, rented, or borrowed vehicles for business purposes, DOC coverage extends your business auto policy to protect against liability and physical damage in those situations.

b. Full Glass Coverage

Contractors often face broken windows or windshields due to job site debris or vandalism. Full glass coverage ensures repairs or replacements are covered without a deductible, saving both time and money.

c. Rental Reimbursement

If a business vehicle is out of service due to an accident, rental reimbursement provides funds to rent a temporary replacement. For contractors, keeping operations running without interruption is critical, making this an essential add-on.

d. Towing and Roadside Assistance

Breakdowns happen, and towing larger vehicles can be costly. Towing and roadside assistance coverage ensures you’re not left footing the bill for towing, tire changes, or jump-start services.

3. The Importance of Driver Screening

When hiring employees with driving responsibilities, it’s crucial to conduct thorough background checks, including pulling their Motor Vehicle Report (MVR). The MVR provides a detailed driving history, allowing you to assess the applicant’s risk level.

Why This Matters:

• High-Risk Drivers: Hiring someone with a poor driving record can make your business a high-risk account for insurers, resulting in significantly higher premiums or even difficulty securing coverage.

• Claims Risk: Employees with a history of accidents or violations are more likely to be involved in future incidents, exposing your business to liability.

• Financial Consequences: Failing to vet drivers can turn into a costly nightmare, not only in terms of higher insurance costs but also due to potential claims.

By pulling MVRs before hiring, you can avoid these pitfalls and ensure your business auto insurance remains affordable and accessible.

4. Factors to Consider When Choosing Limits

Selecting appropriate coverage limits is just as important as choosing the right types of coverage. Contractors should evaluate the following:

• Business Size: Larger fleets or businesses with multiple vehicles may need higher limits to protect their assets.

• High-Risk Jobs: If your work involves transporting hazardous materials or operating in high-traffic areas, consider increasing liability and physical damage limits.

• Project Requirements: Many contracts specify minimum insurance requirements, so ensure your policy meets or exceeds these mandates.

5. Compliance with New York State Laws

New York contractors must comply with the state’s minimum auto insurance requirements:

• $25,000 for bodily injury per person

• $50,000 for bodily injury per accident

• $10,000 for property damage

However, these minimums are insufficient for most contractors. Higher limits provide better financial protection and are often necessary to meet contractual obligations.

6. Why Work with BGES Group?

Navigating the complexities of business auto insurance can be overwhelming, especially for contractors who need tailored policies. That’s where BGES Group comes in.

Who We Are

BGES Group specializes in helping contractors across New York, New Jersey, and Connecticut secure comprehensive and affordable insurance solutions. We understand the unique challenges contractors face and provide boutique-style services to meet your needs.

What We Offer

• Expert Advice: Decades of experience in the industry mean we can guide you to the best coverage options.

• Customized Policies: Whether you need business auto, general liability, workers’ compensation, or umbrella insurance, we craft policies tailored to your business.

• Competitive Pricing: Our strong relationships with top insurers allow us to secure the most competitive rates.

• Exceptional Service: From policy selection to claims management, our team provides hands-on support every step of the way.

Contact BGES Group Today

Don’t take chances with your business auto insurance. Let BGES Group help you find the right coverages and limits to protect your vehicles, employees, and business.

• Phone: 914-806-5853 – Gary Wallach

• Email: bgesgroup@gmail.com

• Website: www.bgesgroup.com

With BGES Group, you’ll get the personalized service and expertise you need to keep your business running smoothly. Contact us today to learn how we can help you stay covered and prepared for whatever comes your way!

New York contractors operate in one of the most challenging insurance environments in the country. One critical and often misunderstood aspect of construction insurance is labor law coverage under general and umbrella liability policies. Labor Laws 240 and 241, also known as the “Scaffold Law,” place absolute liability on contractors and property owners for worker injuries related to falls or falling objects, regardless of fault. This unique legal framework drives up the cost of liability insurance in New York, creating significant challenges for contractors.

The Cost Impact of Labor Law Coverage

Including labor law coverage under general and umbrella liability policies can substantially increase a contractor’s insurance premium. Insurers view the absolute liability imposed by Labor Laws 240 and 241 as a significant risk. Consequently, policies that include labor law coverage often come with higher rates, stricter underwriting, and limited options.

For many contractors, securing labor law coverage isn’t just a recommendation—it’s a requirement. Most general contractors and project owners mandate that their subcontractors carry labor law coverage as part of their general and umbrella liability insurance. Failing to comply with these requirements can result in losing lucrative contracts or being disqualified from bidding on projects.

Examples of Claims Covered by Labor Law Coverage

1. Fall from a Ladder

A subcontractor’s employee falls from a ladder while working on a project site. Even if the fall was due to the worker’s negligence, the general contractor and project owner could still be held liable under Labor Law 240. Labor law coverage would step in to cover the damages and legal costs.

2. Injury from a Falling Object

A construction worker is struck by a falling tool while working on scaffolding. Despite safety protocols being followed, the general contractor and property owner could face liability under Labor Law 241. Labor law coverage would provide protection in this scenario.

3. Scaffolding Collapse

A scaffolding collapse causes injuries to several workers on-site. Labor Law 240 makes the general contractor and project owner strictly liable for the injuries, even if the subcontractor was responsible for setting up the scaffolding. Labor law coverage would handle the claims and associated legal costs.

Why General Contractors and Owners Require Labor Law Coverage

Most general contractors and property owners include strict insurance requirements in their contracts to protect themselves from labor law claims. These requirements typically mandate that subcontractors:

• Include labor law coverage in their liability policies.

• List the general contractor and property owner as additional insureds.

• Provide primary and non-contributory coverage to the general contractor and owner.

Without meeting these requirements, subcontractors risk losing contracts and tarnishing their reputation in the industry.

How BGES Group Can Help

Navigating New York’s complex insurance landscape is no easy task, but BGES Group specializes in providing tailored solutions for contractors. As construction insurance experts, BGES Group understands the unique challenges posed by labor law coverage and works to help contractors secure policies that offer comprehensive protection at competitive pricing.

BGES Group’s boutique approach ensures personalized service. Whether you’re a general contractor or a subcontractor, BGES Group can guide you through the process of obtaining the right coverage to meet your contractual obligations and protect your business.

Contact BGES Group Today

Don’t let the complexities of labor law coverage jeopardize your projects or your bottom line. Contact Gary Wallach at BGES Group to discuss your insurance needs:

Phone: 914-806-5853

Email: bgesgroup@gmail.com

Let BGES Group help you secure the coverage you need to succeed in New York’s competitive construction industry.