The $900 billion COVID-19 relief bill, passed by Congress and signed into law on Dec. 27, includes a number of provisions that affect employers and their workers in terms of paid sick leave and Emergency Family and Medical Leave Act provisions.

The legislation also boosts unemployment benefits to out-of-work Americans, as well as reopening and expanding the Paycheck Protection Program that was introduced in March as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Paid sick leave and family medical leave

The new law has not extended the obligation for employers to provide paid emergency paid sick leave and expanded family and medical leave beyond Dec. 31, 2020, instead making it voluntary after that date.

From Jan. 1, employers can continue receiving tax credits if they provide emergency paid sick leave (EPSL) and emergency family medical leave (EFML) to employees for COVID-19-related purposes through March 31. Here are the caveats:

• Tax credits will be available for leave granted to employees who did not already exhaust 80 hours of EPSL and 12 weeks of EFML. For example, if a worker who was entitled to 80 hours of EPSL last year used 50 of those hours, they’d have 30 hours left to use between Jan. 1 and March 31 this year.
• Employers must protect the jobs of any employee that is granted EPSL and EFML.

Other provisions

The legislation extends some CARES Act unemployment programs:

Unemployment benefits ― The new law extends the Federal Pandemic Unemployment Compensation (FPUC) program supplement from December 26, 2020 to March 14. However, instead of receiving $600 a week under the original program, benefits will be $300 per week.

Gig worker unemployment benefits ― The law also extends the Pandemic Unemployment Assistance (PUA) program, which covers independent contractors and gig workers who would usually not be eligible for unemployment insurance payments.

This program (originally created by the CARES Act) is also extended to March 14, and then a three-week phase-out period begins and will run until April 5. The law increases the number of weeks independent contractors are eligible for these benefits to 50 from the original 39.

Extra weeks for those whose benefits ran out ― The Pandemic Emergency Unemployment Compensation (PEUC) program, which provides additional weeks of unemployment insurance benefits to individuals who use up all of their state unemployment benefits, will be extended until March 14.

The law also increases the number of benefit weeks to 24, from 13 under the original version of the program. After March 14, this program will be phased out over three weeks until April 5.

More money ― Taxpayers with annual incomes below $75,000 will receive a $600 check, plus another $600 per dependent child. Payments are phased out for people with incomes in excess of $75,000.

Paycheck Protection Program (PPP) part II ― The law also sets aside $284 billion for forgivable loans to struggling businesses as part of a second PPP. Companies that receive funds will have to use the money on payroll and other specific expenses if they want the loan to be forgiven.

Depending on the loan, employers will have either eight or 24 weeks after receiving the loan to spend it on approved expenses.

But PPP part 2 does have some additional prerequisites that differ from the original. It lowers the employee threshold for businesses to 300 employees or fewer (down from 500). Additionally, the maximum loan is now $2 million, compared to $10 million under the original PPP.

Qualifying expenses are also different in this version, which means any business thinking about applying needs to read all the fine print.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Questions To Ask…Things To Know:

1. Is your liability policy preventing you from getting jobs? Lots of contractors are unaware of how bad their liability policy’s are.  There are brokers selling these policies and in our opinion they are doing an incredible disservice to the construction industry.  How many of you work with general contractors, owners?  Are they asking you to sign contracts?  Do you know if your policy covers what they require in their contract?  Let’s face it most insurance companies do not want to pay claims and their policies are designed to do just that.  Is your policy one of the real lousy ones?

2. Is your insurance agency “Construction Specialists” or “Generalists?” Do they insure tens, hundreds of contractors or just a few? Ever ask?  Working with a “Generalist” can be hazardous to your wealth.  The exclusions, restrictions and special forms included in policies are designed to “PROTECT THE INSURANCE COMPANY.”  For example, “Blanket Additional Insured” may not cover all parties you agreed by contract to insure.  You find out when there’s a claim.  “We” know how to protect YOU!

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3. Are your liability policies through a “Surplus Lines” or “Main Street” carrier? “Main Street” is better however these type carriers won’t insure most New York contractors. The way you may be able to get insurance thru one of them is by using their “Preferred Agents.”  We happen to be “Preferred Agents” for several of them and can get the job done when others can’t.  For example, we reduced a Queen’s contractors insurance from $397,000 to $193,000.  That’s over a $200,000 savings!                                                                                                                                                                                                                                                                              —
4. For New York contractors there are programs that only a few select agencies represent. These programs offer better pricing and coverage. If you are paying over $75,000 for your liability policies it’s important to have access to these programs.  Due to our size, reputation and experience we are appointed with just about all the programs and can give you access to them.

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5. Use subcontractors? Under your liability policy(s) what are the conditions for your subcontractor insurance? In compliance with them?  Most aren’t that is why it’s important your agent help you screen their policies.  Because construction is our specialty we have a whole department set up to screen client subcontractors.  Very important!                                                                                                                                                                                                                                                                                                                                         —
6. You sign plenty of contracts. Does your agency help review contracts to make sure you’re in compliance with their insurance requirements? We have a department set up to help clients with contract review.  One missed coverage can cause a payment issue or uncovered claim.  Very important!

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7. Let’s take a break from discussing liability insurance. Let’s talk about Workers’ Compensation. Have employees who work out of state weeks at a time?  Are you insured through a state plan?  If so, there’s a good chance you WILL NOT have proper coverage for a claim occurring out of state that is filed in that state.

         Example: You are a contractor who takes a job in New Jersey. Job lasts 5 weeks.  You have coverage through your state’s plan.  Employee sustains a back injury. He hires an attorney and files claim under New Jersey workers compensation     laws.  Most likely your plan will deny claim or only pay according to your states benefit laws.  Can you afford $50,000, $100,000, $250,000+ out of pocket?  Do you want to deal with his attorney for years and the financial drain it will cause?

   Note: many contractors who work out of state are faced with this problem and do not even realize it.  We have a GREAT solution.

8. Worker’s Compensation Recovery – Would you like to get money back from your past seven (7) year carriers? Could be tens of thousands of dollars! We can review your policies and if we find mistakes, get you money back. We do not charge any up front fees for this service. We work on a contingency fee basis.  You just sign three documents and we do all the work!  This should be a no brainer.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    —
9. Bonding – Is your insurance agency “Bonding Experts?” Have a “Bonding” Department? Do they represent the TOP bonding carriers?  Do they have relationships with bonding carriers dating back 50+ years?  If you need higher limits, better rates, less hassle, better service, it’s important you deal with OUR bonding department.                                                                                                      —
10. Business Auto Policy – Unhappy with your rates? Looking for ways to lower them? We represent all the TOP carriers for construction auto insurance needs.

Okay that’s it for now!  Hope we gave you some valuable information.  A new avenue you can pursue.  We are really good at what we do.  In 2021 it’s not a bad idea to be with an organization that specializes in construction.  By doing so you will be better protected and save money.

Now read about BGES Group and keep us in mind for ALL your insurance needs.

About Our Agency:

• We are construction insurance specialists.
• Been insuring contractors since 1981.
• Do $200 million in business.
• We have “Main Street” programs for New York City contractors (we cover NY, NJ, CT) that just a handful of agencies have.
• We have purchasing leverage and can get you excellent rates.
• On any given day we have a great pulse on the market place.  If there is a new program out there that you can benefit from we will find it.
• We have a program to screen all your subcontractor’s insurance policies so you don’t have to do it.
• We offer Property, General Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Workers’ Compensation, N.Y.S. Disability, Group Health and Personal Lines (Homeowners, Personal Auto, Personal Umbrella, Boat, Jewelry, Fine Arts) insurance policies.

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

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2021 – BGES Group

1.  Commercial General Liability Policy – Does your policy have lots of exclusions, restrictions and conditions? Very important – Is your broker a construction specialist or generalist (most are generalists who lack understanding of policy contract wording)? If they’re not specialists, you will be exposed to numerous uncovered financially crippling claims that can knock you out of business.  A clue would be if your policy prevents you from getting jobs?  Specialists like us won’t sell you crap but will get you coverage tailored to your needs and designed to cut out excess cost.  In addition we will help you put in proper risk transfer mechanisms (we have a department set up for this) and help you review customer contracts.  Does your broker review customer contract insurance requirements for you?  We do!

For N.Y. Contractors we offer “THE TOP” “Main Street” and “Surplus Line” programs.    If we can take you out of a “Surplus Lines” company and place you with one of our “Main Street” companies your rates will be lowered and coverage improved.

For New Jersey and Connecticut Contractors, we represent 10-20 programs.  Are you unhappy with your agency, pricing or coverage?  Let us address all three!

Please note due to our reputation, size and experience we are “Preferred Agents” for MANY companies.  This means we can get you into programs most other agents can’t.  Get a quote from us, it’s free!   Better coverage at up to a 50% savings is possible.  We reduced a Queen’s contractor liability pricing from $397,000 to $193,000.  That’s worth giving us a shot!   

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2. Commercial Umbrella Liability Policy – The insurance companies keep raising their prices. There are more exclusions and restrictions than ever!

We represent “THE BEST UMBRELLA MARKETS” for tri-state contractors.  We know what coverage needs to be included and what exclusions &/or restrictions to watch out for.

Looking for lower pricing and better coverage?  Let us HELP you get it.

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3. Worker’s Compensation Policy – Issues We Address:

1) Lowering Pricing – We have specialty programs that can save you up to 40%

2) Finding a new company

3) Replacing a policy that is being cancelled or non-renewed

4) Poor loss experience causing problems renewing your policy

5) Audit disputes

6) Company creating fictitious payroll at audit time

7) Lowering high experience modifications factors

8) Misclassification of payrolls

9) Lowering or eliminating renewal deposits

10) Getting coverage when you’ve been without for a few months

11) Covering multiple states under one policy

12) Eliminating 10% service or policy fees

Please note for tri-state contractors we offer one of the best Workers Compensation Programs.  It offers coverage stability, proper protection if you work in multiple states (state and assigned risk plans may not which leave you exposed to financially crippling uncovered claims which most contractors are not aware of), competitive rates and first class service.  Audits are painless.

Looking for better coverage and pricing?  Let us HELP you get it.

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4. Workers’ Compensation Premium Recovery – If you pay $35,000 or more a year in premium, let us review your account and look for overcharges. WE GO BACK SEVEN (7) YEARS WITH THIS SERVICE SO IF THERE ARE OVERCHARGES YOU CAN GET TENS OF THOUSANDS OF DOLLARS BACK AND YOU DON’T HAVE TO DO ANYTHING! WE DO ALL THE WORK!  If we find any we will get you refunds from your past companies.  There’s NO upfront fee.  We work on a contingency basis. You sign three documents, we do the rest!  We have found thousands, tens of thousands of dollars for clients.  Be next!

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5. Bonding – We are one of New York’s leading bonding agencies. We have relationships with bonding companies and can get the job done for you when others can’t. We have over 40 years experience helping contractors with their bonding needs.  Try us we will make life much easier for you.

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6. Business Auto Insurance – We have 10 companies to obtain quotes from. Unhappy with what you now pay let us take a look and see what can be done!

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About Our Agency:

• We are construction insurance specialists.
• Been insuring contractors since 1981.
• Do $200 million in business.
• We have “Main Street” programs for New York City contractors (we cover NY, NJ, CT) that just a handful of agencies have.
• We have purchasing leverage and can get you excellent rates.
• On any given day we have a great pulse on the market place.  If there is a new program out there that you can benefit from we will find it.
• We have a program to screen all your subcontractor’s insurance policies so you don’t have to do it.
• We offer Property, General Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Workers’ Compensation, N.Y.S. Disability, Group Health and Personal Lines (Homeowners, Personal Auto, Personal Umbrella, Boat, Jewelry, Fine Arts) insurance policies.

BGES Group located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life Insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

While most companies focus on driver training to help reduce the chances of accidents pushing up their insurance premiums, many executives have been frustrated to see their rates climb.

The top two factors affecting your commercial auto premiums are your history of claims and the driving records of your individual drivers. To get a handle on your insurance rates you should focus on hiring on mature, experienced, responsible drivers.

Once you have selected solid people, the next step is to enforce safety standards and provide them with adequate rest and the tools they need to drive safely.

New technologies and advances in underwriting are making it possible for employers to take a more proactive approach to risk management and claims reduction. The ultimate goal is to lower your premiums. Here are some steps you can take to keep your premiums down:

Monitor your drivers’ records – Consider using an automated service to monitor your drivers’ records. Drivers don’t always self-report their tickets, accidents and DUIs. Automated driver record monitoring systems can routinely check for new violations, DUI or DWI convictions, license suspensions, revocations, and approaching license renewal dates. You get a report each month, and you can take action, if warranted.

Add GPS tracking to your vehicles – Advances in GPS tracking and displays enable you not just to track your vehicles’ whereabouts and control malingering, but also monitor for speeding.

Turn the public into your eyes and ears – You’ve certainly seen those signs on the backs of commercial vehicles that say “How Am I Driving? Dial 555-555-5555.” They work. But if you do get complaints, it’s important to follow up on them, and in writing.

Pre-screen all new hires – Before hiring, pull an applicant’s DMV records. You want people with one point or less on their licenses. Incidents happen. But if a driver has two or more points, you don’t want them driving for you.

If you find a DUI, don’t hire them – You don’t want someone with a drunk-driving arrest on the road for you, and you don’t want to be paying their insurance premiums.

Raise your deductible – For best results, keep your deductible above $2,500 or so. This keeps the fender-benders off the books. The deductible is usually trivial compared to the potential claim if your driver causes bodily injury to someone else, anyway.

Use the savings on your premium and bank them for future use in case of fender-benders. Or you can funnel it into more liability or umbrella coverage.

Maintain an ongoing safe-driver program – Set up an incentive program to reward or give bonuses to drivers when they reach milestones like a certain number of miles of incident-free driving. You can also provide bonuses if their safe driving helps reduce your premiums.

Safe-driving clause – If your state allows, consider a safe-driving clause in the employment agreement.

Don’t overspend on vehicles – The more expensive the vehicle, the higher the premiums.

Consider whether you need collision coverage – If you have an aging fleet, or you can afford to replace one of your vehicles on occasion, consider cancelling collision coverage on your policy.

The takeaway

Employers that put in the effort to ensure they employ drivers with good records, and can show insurers they have put programs and measures in place to control their claims experience, have a better chance at taming their premiums.

Besides lower premiums, there are other benefits: Your business will pay out less in deductible charges, you have a safer workforce, and you spend less time and maintain productivity when you don’t have to deal with the aftermath of accidents and the insurance claims process.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Cybersecurity threats have continued growing, in fact they been ramping up during 2020, and the trend according to experts is that the risks will continue to grow at an exponential rate.

And small to mid-sized firms that think they will fly under the radar of cyber threats are sadly mistaken, as they are usually easier pickings for criminals. Worse yet, one incident could put a firm out of business.

To protect your company from attack, here are three cybersecurity threats you should prepare for now.

Ransomware attacks

In a ransomware attack, hackers access your data and hold it hostage until you pay some type of ransom. This means business owners have to choose between losing their data or paying a hefty sum.

Ransomware is usually delivered through phishing e-mails that appear legitimate at first glance.

The e-mail generally includes an attachment or link containing malicious code and once an unsuspecting employee clicks on it, they unleash the code first into their workstation and later into your network.

To protect against ransomware, the Small Business Administration recommends that you and your staff:

• Verify web addresses before downloading e-mail attachments.
• Don’t give out personal information about your company to unsolicited callers.
• Don’t give out financial information about your company over e-mail.

Man-in-the-middle (MITM) attacks

These are relatively new attacks when cyber criminals intercept and alter incoming traffic. Once intercepted, the hackers redirect the victim’s browser to a malicious website where they can steal and even change sensitive information.

These MITM attacks are usually initiated by malware.

The best way to combat MITM attacks is by using some type of endpoint authentication to make it harder for hackers to intercept traffic. For instance, passwords are becoming increasingly unreliable, so two-factor identification methods (like a text message with a secret code being sent) can provide additional security.

Lack of awareness

Ninety percent of the time when hackers gain access to a company’s database and network, it’s due to human error, typically when an employee clicks on a link or opens a malicious attachment to an e-mail, unleashing the attack.

Other ways criminals gain access include when an employee leaves a laptop in an unsecured location, or they send sensitive company information to an unintended recipient.

The best way to thwart cyber criminals is by training your employees on cyber-security best practices:

• The creation of strong passwords and changing passwords regularly.
• Never installing unauthorized software.
• How to stay safe online and on social media.
• Strategies for responsible e-mail usage.
• How to keep their devices secure while they’re at the office and away.
• What to do in the event of a cyber attack.

The final backstop

Any firm that stores sensitive information and company intellectual property on a network may want to consider a cyber insurance policy. As threats have evolved, so have insurance products – data breach insurance and cyber liability insurance – and even they will vary in terms of coverage from one insurer to the next:

Data breach insurance – This will cover your business if you have a breach of personal identifiable information or personal health information is lost or stolen, either by hackers or a forgetful employee losing a laptop. Policies will usually cover:

• Costs of notifying affected customers, patients or employees.
• Costs of hiring a public relations firm.
• Costs of offering credit monitoring services to data breach victims.

Some policies will also include or offer as a rider extortion coverage, which helps cover the amount you paid if someone has taken your business’s data and demanded a ransom.

Cyber liability insurance – This helps cover financial losses due to cyber attacks or other tech-related risks, as well as privacy investigations or lawsuits following an attack. It will usually cover:

• Legal services.
• Notification expenses to alert affected customers and employees that their personal information was compromised.
• Extortion paid to recover locked files in a ransomware attack.
• Lost income from a network outage.
• Lawsuits related to customer or employee privacy and security.
• Regulatory fines.

The takeaway

The cybersecurity threat grows daily. Make sure you train your employees well and warn them against clicking on malicious links by training them on how to identify suspicious e-mails.

Also, to ensure you’re not bankrupted by an attack, you should consider some type of cyber insurance as it can provide a much-needed blanket of protection.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

Employment practices and employee benefit-related lawsuits are on the rise – and employers have to be eternally vigilant when it comes to meeting their compliance obligations as plan sponsors.

Take the case of Visteon, a global automotive industry supplier, which outsourced its payroll and enrollment/disenrollment functions to outside plan administrators.

But because of internal mistakes at the firms that Visteon outsourced these noncore HR functions to, some of its former employees who should have received COBRA eligibility notices after leaving the firm never received them. At first it was just a handful, but ultimately 741 co-workers signed on to a class-action lawsuit.

Visteon argued in court that it was not its own mistakes that had caused the error, and that it had made a good-faith effort to hire outside experts to take over this function for them. Payroll and enrollment, after all, are not core competencies for an auto parts supplier, the company said, and it had been relying on the expertise of these other payroll companies to properly execute these functions and provide these notices.

The court didn’t buy Visteon’s argument. Rather, it held the company responsible in 2013 for poor internal tracking systems, negligence in overseeing its third party administrators, and failure to accept responsibility for its COBRA notification efforts.

That exposed them to the statutory penalty of $110 per worker per day for failure to provide notification.

In the end, for doing what tens of thousands of employers are doing nationwide – relying on third party administrators to handle payroll functions that are regulated under COBRA – Visteon was slapped with $1.8 million in penalties.

Employers are frequent lawsuit targets

As much as companies rely on their employees to generate profits, simply having them around and administering their benefit plans potentially exposes employers to significant possible liability.

According to a survey from insurer CNA, employment-related disputes are the fastest-growing category of civil lawsuits in America.

Employers face risk from the potential of lawsuits employees may bring for alleged failure to fulfill their fiduciary duties as sponsors of retirement plans under ERISA, for example, or for accidental or unauthorized leaks of personally identifiable information, which carries significant penalties under HIPAA.

Sponsors of defined contribution pension plans, such as 401(k)s, are particularly frequent targets of lawsuits for various fiduciary failures, errors or omissions.

Protecting your firm from legal action

So how can employers protect themselves against the potential costs of employee benefit-related litigation? You should:

• Carefully monitor your plan third party administrators. Insist that they document their own compliance practices to you. Don’t take their word for it.
• Reconcile your own lists of recently departed employees with your payroll company’s COBRA notifications.
• Understand that your commercial general liability insurance policy usually will not cover you against liability arising from improper administration of employee benefit plans, ERISA, COBRA, USERRA, wage and hour laws, Title VII related lawsuits, and the like.
• Consider employment practices liability insurance. This coverage will often protect against lawsuits like this and cover legal expenses, and even judgments.
• Conduct regular reviews with advisers of investments in pension and 401(k) plans. Investments should be reviewed at least annually – and quarterly is not unusual.
• Ensure that fees paid to 401(k) and other plan administrators are not excessive. You don’t have to go with the cheapest provider (that can be trouble, too). But if you do choose a higher-fee vendor, document why you made that decision so that you can show your reasoning in court and defend your decision-making as sound and prudent.
• Invest in data security and HR compliance expertise.

Unhappy with your present Worker’s Compensation pricing, company or audits? For 39 years we’ve been one of tri-states Workers Compensation Specialists. Tell us what you’d like and let us go get it for you!

Having trouble renewing coverage due to poor loss experience? In the middle of an audit dispute? Feel like you’ve been overcharged for years? For free, let us look into whatever issue(s) you’re having and help fix them.

Would you like to get money back from your past seven (7) year carriers? We can review your policies and if we find mistakes, get you money back. We do not charge any up front fees for this service. We work on a contingency fee basis.

We can get you any type policy. A stand alone policy. A Payroll/WC plan. A Professional Employer Organization Plan (PEO). A State or Assigned Risk policy. We have access to over 20 companies.

We are encyclopedias when it comes to the ins and outs of the Workers Compensation system.  Like tax specialists, we know the rules and how to use them to benefit clients.

Unlike special programs where administrators charge up to an extra 10% service fee, we DO NOT charge a fee (unless company does not pay us a commission). We hear complaints how administrators charge 10% fees but do nothing. We are ALWAYS helpful AND do not gouge clients.

Are you in the construction industry? Many of you are being overcharged because your broker doesn’t know about or is too lazy to apply for this special credit. We got one client a 17% credit!

When you have a question, claim, need a certificate, how would you like to get a person on the phone in seconds or a certificate back in 5 minutes? We DO NOT use phone systems. When you call you get us on the phone in seconds.

Sick of getting beat up by insurance companies? Taking whatever price increases they charge? Want to work with someone who fights for their clients and usually has a Plan B and C in place just in case?

When you work with BGES Group this is what you can expect. The president, Gary Wallach, has been specializing in Workers Compensation since 1981. And that is who will be servicing your account if you decide you need a change.

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

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer mechanisms. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

The Trump administration has issued new interim final rules that set out accelerated coverage requirements for COVID-19 preventative services and covering out-of-network testing for the coronavirus.

There are two parts to the interim final rules:

• One requires that COVID-19 preventative services – including vaccines – be covered without any cost-sharing on the part of plan enrollees.
• The second creates a reimbursement formula for insurers to pay for COVID-19 testing conducted on their enrollees by out-of-network providers.

The new rules, which implement important parts of the CARES Act, were rolled out by the Treasury, Labor, and Health and Human Services departments.

If you are a plan sponsor, you need to know how this affects your group health plan so you can help your staff understand how testing and preventative COVID-19 services are covered.

COVID-19 preventative services

The CARES Act requires that COVID-19-related preventative services be covered within 15 business days after a doctor recommends that a patient needs them.

COVID-19 preventative services must be covered without any out-of-pocket costs on behalf of health plan enrollees, whether they receive those services inside or outside their plan’s provider network. The reason for this is that as vaccines start rolling out, not all providers may have access in the beginning.

The rules are required to ensure that people who need vaccines can access them without any hardship to help put an end to the pandemic.

Under the rules insurers must pay out-of-network providers a “reasonable amount,” which would be determined by the prevailing market rates that providers are charging health plans for the service. That may be the Medicare rate, the regulations note.

The rules cover more preventative services than just vaccines. They must also cover services that are “integral” to delivering preventative services, such as administrative costs.

Finally, if a preventative service, including a COVID-19 vaccine, is not billed separately from an office visit, and the primary purpose of the office visit is to deliver the recommended service or vaccine, the plan or insurer may not charge cost-sharing for the office visit.

COVID-19 tests by out-of-network providers

The new rules also set out the parameters for how health plans will pay out-of-network providers for COVID-19 diagnostic tests they perform on the latter’s enrollees.

On testing, the CARES Act requires that:

• Health care providers post on their websites the cash price or any lower negotiated price for COVID-19 diagnostic testing. The “cash price” is the charge that applies to a walk-in patient who pays cash for the service.
• Health insurers pay out-of-network providers of COVID-19 diagnostic tests the price posted on the provider’s website during the public health emergency.

The takeaway

If you sponsor a group health plan, you should communicate the new rules to your participating employees so that they are aware of the no out-of-pocket rules for COVID-19 preventative services.

You should also keep up with the news about when vaccines will be rolled out in your area, so you can encourage your staff to get vaccinated.

The new rules will sunset at the end of the public health emergency. Currently, that’s slated for Jan. 21, 2021, but will likely to be extended as it is unlikely a vaccine can be rolled out en masse by that time.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages.  We help contractors set up proper risk transfer.  If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;   9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

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

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

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2020 – BGES Group