Does your Insurance Cover the Promises you Made in that Construction Contract

Most contracts for construction work include provisions called “indemnification” or “hold harmless” agreements. These agreements require one party to the contract to compensate (indemnify) the other party for certain costs. The costs include damages the owner or general contractor (GC) must pay because of injury to others or damage to others’ property that result from the contractor or subcontractor’s work. The agreement may also cover other costs, such as attorneys’ fees.

In short, the owner or GC is saying to the contractor or sub, “If we get sued over something related to the work you do for us, you’re going to pay for it.”

When a contractor must fulfill this part of the contract, substantial amounts of money are involved. Fortunately, insurance might cover the expense.

The terms in the contractor’s general liability insurance policy can be confusing at first glance. The standard commercial general liability coverage form actually states that the insurance does not apply to bodily injury or property damage for which the insured organization must pay damages because it assumed that obligation in a contract or agreement. However, the form goes on to say that the insurance does apply to liability for damages 1) the insured contractor would have if there was no contract, or 2) the contractor assumes in what the form defines as an “insured contract.”

The form’s specific definition of “insured contract” includes several specific types of agreements. It also includes other agreements where the insured organization assumes the liability of another organization to pay damages for injury or damage to a third party caused by negligence. The insurance will pay for damages covered by these contracts only if the two parties execute the hold harmless agreement before the accident causing the loss occurs. Here are a few examples of how this coverage might apply:

GC and subcontractor sign a contract for the sub to dig the foundation for a new building. The contract includes a hold harmless agreement that benefits the GC. Two weeks after they sign the  contract, an employee of another sub on the site falls into the hole the sub dug. The injured worker sues both the sub and the GC. The accident happened after the contract was signed, and the agreement fits the definition of an insured contract. Therefore, the sub’s liability insurance will cover damages both the sub and the GC owe for this accident.

Suppose, though, that the GC hires the sub in a hurry. Because the project is behind schedule, the GC tells the new sub to start work before any contracts are signed. Remember, the insurance does not apply if the contract is not executed before the loss. If someone were to fall in the hole and sue, the sub’s insurance would not cover this loss. Also, the insurance would not cover a loss if the contract was with a railroad for certain work near its tracks.

Coverage for liability assumed in contracts is very important for construction projects. These agreements are very common. Contractors who do not have this coverage are unable to comply with contract terms. Some policies may change the definition of “insured contract,” so it is important that  contractors verify with their insurance agents that the coverage is in place. This is an area that is too important for contractors to leave to chance.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

Many Americans decide to remodel or build additions to their homes in the summer as the weather is more accommodating to that kind of work.

But when summer starts, scammers also come out of the woodwork and it’s not uncommon for homeowners to be ripped off by an unscrupulous contractor.

The most common scam is to ask for money up front and then abscond, never to be seen again. Also, many shoddy contractors will underperform, providing poor workmanship at an exorbitant cost and try to illicit more money from you in the process.

If you are planning a remodel, you should look out for these common scams.

Up-front payments
A typical job will require about 10% of the cost up front, just as a good faith payment that you are scheduling the contractor’s time.

But the scammer will ask for 30-50% of the project price up front, saying that he has to order materials and/or rent machinery to get the job started. Then the scammer will disappear and not be seen from again, or they will start the project with shoddy workmanship.

Or the contractor is not financially stable and may plan to skimp on the work later.

Reneging on terms
When a homeowner and a contractor discuss a project, it’s common for the contractor to suggest decorative details that will make the work stand out. But what often happens is that those details never make it into the final contract and … surprise! … they don’t make it into the final project either.

When you see that the contractor isn’t adding those details in, you confront them and they tell you they didn’t include those features in the price. They’ll then try to elicit more money for that extra work.

Being told no permit is necessary
In most jurisdictions you have to get a work permit for any large construction project. Building officials want to know about all projects so that they can check on safety practices.

Sometimes unlicensed contractors may try to avoid pulling permits by saying they’re not necessary for this particular type of job. This would be typical for an interior project.

If they want to avoid pulling permits for an outside project, they may tell you it’s the homeowner’s responsibility. But it’s not. A permit must be obtained by the party doing the work.

So what can you do to avoid being ripped off? Angie’s List and HouseLogic.com, a site run by the National Association of Realtors, has the following advice to avoid getting ripped off:

Do your homework – Solicit at least three bids for your project and check Angie’s List, industry associations and previous clients’ references before hiring. Visit the contractor’s completed projects during the bid review process, particularly when it’s a big job.
You should also talk to friends who have had done work recently to get recommendations.

Check status and references – Check your state contractor’s board to see if a contractor is required to have a state or local trade license to do your job, and then verify his or her status with the appropriate licensing agency.
Ask for proof of liability and workers’ compensation insurance and bonding (if applicable). Ask for and check references for past jobs, and also suppliers they often use.

Negotiate a detailed contract – It should specify the various responsibilities of both the contractor and the homeowner, start and completion dates, terms that tie payments to job progress and completion, details of the work that’s being performed, itemized materials and any warranty information, and whether subcontractors will be used.
Also require that the contractor is responsible for obtaining all of the required building permits.

Ask for a detailed outline of costs – Never prepay more than $1,000 or 10% of the job total, whichever is less. That’s the legal maximum in some states, and enough to establish that you’re a serious customer so the contractor can work you into his schedule – the only valid purpose of an advance payment.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

Protect Yourself against Liability Exposure from Contractors’ Employees

As a business owner, you could be held liable for the actions of other peoples’ employees.

U.S. employment law has long recognized that workers may have an employment relationship with multiple entities at the same time. That means your company could get stung with OSHA fines, Title VII discrimination claims and other actions that arise from the actions of an employee that you thought was a subcontractor.

Here’s why:

In Secretary of Labor vs. Summit Contractors, the 8th Circuit ruled that companies that exercise overall control of a job site can be held liable for workplace infractions – even when the individual or individuals directly responsible for the infraction were employees of another firm, and no employees of the controlling employer were directly involved.

Furthermore, even if your company doesn’t exercise direct supervisory control of subcontractors, courts have held that a de facto employment situation exists if the controlling employer simply reserves the right to exercise control.

Protecting yourself

Here are some ways to safeguard yourself from joint employer liability:

• Ensure that all subcontractors have employee liability insurance and general liability insurance of their own.
• Check out the vendor or subcontractor’s track record with safety and OSHA-related claims.
• Research the subcontractor’s bonding history.
• Ensure your employer’s liability insurance covers claims that may arise from contractors and vendors working on your property, or on worksites your company controls.
• Negotiate for an indemnification clause in any vendor contracts or subcontracting arrangements.
• Don’t rely on verbal assurances: Put the subcontractor’s responsibility for complying with OSHA standards and labor laws, rules and regulations in writing, as part of the contract.
• Hold regular safety meetings with representatives from the subcontractor’s firm, and document them.
• Don’t sign a contract with a manpower or employee leasing firm unless you have looked through it for exposure to liability from their employees.
• Ensure the vendor or subcontractor is providing job site supervision. At a minimum, ensure their management is checking on the site regularly. If all supervision is left to you, federal regulators may deem these workers to be your employees.
• Don’t discipline the subcontractor’s workers directly. Work through the subcontracting entity wherever possible. If your supervisors attempt to discipline their employees, or direct their work too closely, courts may find that a de facto employment relationship exists with your firm as well as with the subcontractor. This exposes you to liabilities that these employees may cause.
• Train your middle managers and foremen that they should not attempt to take on the role of supervisor to subcontractors’ employees and onsite vendors.
• Don’t lend heavy equipment, power tools or vehicles to subcontractors on the job site, unless you also send a designated operator. Contractors are expected to have and maintain their own equipment. Also, when you send your own operator with a forklift, for example, you can help ensure that the subcontractor doesn’t expose you to liability because of an accident caused by an unqualified operator.

For more information, or to schedule an insurance and risk exposure review, call us today.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

IN THE course of doing business, you may sometimes find yourself entering into contracts requiring that your firm be named as an additional insured on another party’s insurance policies.

This is often done to make sure that your own insurance is not depleted by defense and indemnification costs for losses for which you may be legally liable as a result of the business relationship you have with the other party, but that are not due to your own firm’s direct negligence.

Definition: An individual or entity that is not automatically included as an insured under the policy of another, but for whom the named insured’s policy provides a certain degree of protection.

When to Be an Additional Insured

There are many times when you may want your firm included as an additional insured on another’s policy. Here are just a few examples:

• If you are a building owner, you want to be an additional insured on the property and general liability insurance of your tenants in case one of them damages your building or in case a visitor to the property is injured.
• If you are the owner or a contractor on a construction project, you want to be an additional insured on the general liability insurance of your contractors and subcontractors in case there is an injury to one of their employees.
• If you are a distributor or a retailer, you may want to be an additional insured on the insurance programs of the manufacturers of the products that you sell.
• If a contractor comes onto your property to perform work of any type, including erecting displays or maintenance or structural work, you will want to be named as an additional insured on their policy in case the display falls on someone, or someone is injured due to the work they are performing. You don’t want to be held responsible for any dangers or injuries created by their work.

If you are to become an additional insured on another company’s policy, confirm that the other party has indeed named your company as such with their insurance company.

You should ask for a copy of the policy that explicitly lists your company as an additional insured. You want to see a copy of the policy and the certificate of insurance, although the latter is not sufficient proof that your company has been added.

Additional insured status is effectively conferred through an additional insured endorsement to the other party’s original insurance policy.

An endorsement serves as an amendment to the terms of the policy that is incorporated into the relevant insurance policy. These amendments can take the form of an endorsement that specifically names a particular additional insured, or a general endorsement that identifies some class of parties as additional insureds.

If there is a dispute about your company’s status as an additional insured, you will want to have in hand not only the other party’s certificate of insurance, but also a copy of the policy itself and the endorsement that makes your company an additional insured.

There are a few best practices that you can implement to help make certain your firm’s status as an additional insured has been properly secured:

• At a minimum, always insist on receiving a copy of the relevant additional insured endorsement, as this is the instrument that establishes additional insured status;
• An additional insured endorsement does not, however, state an insurance policy’s terms and conditions. In order to avoid being surprised by unexpected policy terms (such as strict notice requirement or unfavorable notice of cancellation provisions), you should ask for and receive a copy of the entire insurance policy under which you are an additional insured, and be sure to read it;
• Retain additional insured endorsements and the relevant insurance policies for as long as there is any potential that claims triggering those policies might be made.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

As summer nears many businesses are ramping up hiring of teen workers, with many companies this year taking them on as they deal with the labor shortage as the country emerges from the COVID-19 pandemic. Others employ teens year-round.

Taking on a teen worker comes with added responsibility in terms of compliance with state and federal laws, as well as workplace safety. Each year, 70 teenagers die while working in the U.S., while about 100,000 are injured seriously enough to require emergency room treatment.

Keep in mind there’s a lot that employers can do to prevent injuries to their teen workers, and the measures you take to keep them safe will help protect all your employees. The following are some tips you can follow if you employee teenagers:

1. Workplace safety вЂ” Know the law and OSHA workplace safety and health regulations, which are designed to protect all employees, including teens, from injuries. Ensure that all jobs and work areas are free of hazards. The law requires you to provide a safe and healthy workplace. Involve every worker in your Injury and Illness Prevention Program.
2. Train teens to put safety first вЂ” Give clear instructions for each task, show them what safety precautions to take and point out possible hazards. Prepare teens for emergencies, accidents, fires and violent situations. Show them escape routes and explain where to go if they need medical treatment.
3. Increased supervision вЂ” Teenage workers not yet accustomed to working typically require close supervision, and they may also require more instruction and repetition to learn a task than their adult counterparts.
   Instill good working habits in teen employees by encouraging them to ask questions and always request assistance when necessary. Be patient, even when you find yourself answering the same question more than once.
4. Check your compliance вЂ” Make sure teenagers are not assigned work schedules that violate the law, or are given prohibited tasks like operating heavy equipment or using power tools. Also ensure they have their work permits if aged under 18.
   The Department of Labor has strict rules about 14- and 15-year-olds, particularly in terms of hours they are permitted to work. Although there are no specific federal laws restricting the working hours of minors age 16 and 17, you must comply with all state laws that do, as well as any state laws that further restrict the working hours of minors age 14 and 15.
5. Know the law вЂ” Make sure also that your supervisors who give teens their job assignments know the law. Encourage supervisors to set a good example, as they are in the best position to influence teen attitudes and work habits.

The takeaway

Your teen employees are the next generation of workers in the U.S. The teenagers you hire develop personal skills that make them more likely to go on to further their education and succeed in life. As you hire these young people, know that you do make a difference.

Educating them about professional standards, workplace health and safety, rights on the job, and how to communicate effectively will shape the workplaces of the future, as well as keep your business running smoothly.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

Fraud adds to workers’ compensation costs for all businesses, but it hits small businesses the hardest as they may not have the resources to identify bogus claims.

According to a new study by workers’ comp insurer Employers Holdings Inc., about 20% of small business owners are not sufficiently prepared to identify workers’ comp fraud.

It’s estimated that at least 10% of workers’ compensation claims are fraudulent, and identifying those illicit claims would keep your workers’ comp claims in check and reduce your premiums.

Claims fraud happens when an employee tries to gain workers’ comp benefits by falsely stating that an injury or illness occurred at work, or by exaggerating an existing injury or illness.

“Workers’ compensation fraud … can strain business operations, lead to higher insurance costs for businesses, and even undermine honest workers who are legitimately injured on the job,” said Ranney Pageler, VP of fraud investigations at Employers.

The disconnect

The study found that:

• 13% of small business owners are concerned that one of their employees would commit workers’ comp fraud by faking an injury or illness to collect benefits.
• 21% said they are unsure of their ability to identify fraud.
• 24% of small business owners have installed surveillance cameras to monitor employees on the job.

The strongest indicators of potential claims fraud noted by survey respondents include:

• The employee has a history of claims (58%).
• There were no witnesses to the incident (52%).
• The employee did not report the injury or illness in a timely manner (52%).
• The reported incident coincides with a change in employment status (51%).

Nipping fraud in the bud

Investigator Pageler recommends that small business owners look for the following warning signs:

• Monday morning (or start of shift) injury reports. The alleged injury occurs first thing on Monday morning, or the injury occurs late on Friday afternoon but is not reported until Monday.
• Employment changes. The reported accident occurs immediately before or after a strike, job termination, layoff, end of a big project or the conclusion of seasonal work.
• Suspicious providers. An employee’s medical providers or legal consultants have a history of handling suspicious claims, or the same doctors and lawyers are used by groups of claimants.
• No witnesses. There are no witnesses to the accident and the employee’s own description does not logically support the cause of the injury.
• Conflicting descriptions. The employee’s description of the accident conflicts with the medical history or injury report.
• History of claims. The claimant has a history of suspicious or litigated claims.
• Refusal of treatment. The claimant refuses a diagnostic procedure to confirm the nature or extent of an injury.
• Late reporting. The employee delays reporting the claim without a reasonable explanation.
• Claimant is hard to reach. The allegedly disabled claimant is hard to reach at home and does not respond promptly to messages.
• Frequent changes. The claimant has a history of frequently changing physicians, addresses or jobs.

It should be noted that one of these indicators on its own may not be indicative of fraud, so don’t jump to conclusions.

What to do if you suspect fraud

Employers who suspect a worker may be committing claims fraud should first alert the special investigations unit or fraud unit within their insurance company’s claims department.

If your complaint is found to have merit and they believe the claim may be fraudulent, the insurer may report it to the appropriate law enforcement authorities. But that will only happen after the insurance company has conducted its own investigation.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

If you find signs that your house’s foundation may be damaged, it’s obviously disconcerting since it is the support structure for your entire home.

A damaged foundation can wreak havoc, putting your home off kilter — and making those repairs can be costly. You may think that your homeowner’s insurance will cover repairs, but that’s only true in certain circumstances.

Foundation damage can sneak up on you, so it’s important that you know the warning signs, including:

• Exterior cracks — Large cracks on exterior wall, particularly ones that have zig-zag patterns, could be a sign of foundation damage. Cracks on brick exteriors should also be checked.
• Interior cracks in sheetrock вЂ” Like exterior wall cracks, if you see zig-zagging cracks in sheetrock walls, you should call a specialist to inspect the issue. Also look for cracks where the wall and ceiling meet, and if wallpaper is peeling off a wall.
• Walls pulling away from the house вЂ” If an exterior wall is pulling away from the house and yielding a widening crack, you should call a contractor to inspect the damage. This may be the result of foundation damage, and it also poses a greater danger should the wall fail and collapse.
• Doors that are uneven or out of square — If you have a door that is out of square with the frame and seems to be getting worse, it could be a sign there is something up with your foundation. And if you start noticing that your floor is uneven, you should also have the issue inspected.
• Frames separating from brick вЂ” If a window or door frame is pulling away from a brick wall, it’s a clear sign you have foundation problems.
• Bouncing floors вЂ” If you start noticing that your floor has a bit of bounce to it, it could be a sign of rotting wood underneath, which could be the result of cracks in your foundation that are letting water seep through and damage the wood.
• Cracks in tilework вЂ” If you start noticing that tiles in your kitchen or bathroom are cracking and it’s occurring in more than a few tiles, you may have foundation problems.

Insurance

Your homeowner’s insurance would typically not cover damage to your foundation that was caused by failing to perform regular maintenance. if your foundation simply needs regular maintenance and typical repairs, homeowner’s won’t cover the costs.

Also, foundation cracks that result from simple wear and tear and shifting ground over time would typically not be covered.

But damage to the foundation from a sudden event such as a fire, damage from severe weather or a tree limb falling would likely be covered. Some examples of coverage include:

• Water damage to your foundation caused by a pipe suddenly bursting or water backing up. This would be covered if you carry insurance that covers the type of water damage that affected your foundation.
• Falling trees or any other objects that damage the foundation.
• A covered structural collapse that cracks or separates your foundation.
• Gas explosions and fires.

Earthquakes would typically not be covered, however. There are endorsements or separate policies that cover quake damage.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

It is very common for the insurance requirements in a construction contract to include a provision requiring the subcontractor to waive all rights against the owner and general contractor for recovery of damages to the extent these damages are covered by the sub’s workers’ compensation and general liability or commercial umbrella liability insurance. Owners and general contractors insist on this provision because they want to protect themselves from being held liable for injuries to a subcontractor’s employee. Typically, the contractor giving the waiver asks its insurance company to attach a “waiver of subrogation endorsement” to its workers’ compensation policy.

The endorsement states that the insurance will company will not enforce its right to recover payments it makes to an injured worker from the person or organization listed on the endorsement. It applies only to the extent that the employer insured by the policy performs work under a written contract requiring the employer to obtain the insurance company’s waiver. It does not directly or indirectly benefit anyone not listed on the endorsement. With this endorsement on the policy, the company cannot attempt to recover payments it made to an injured worker from the company listed on the endorsement, even if that company was responsible for the injury. Consequently, the loss impacts the employer’s experience modification, probably increasing future premiums. In addition, the endorsement carries an additional premium for the employer, normally some percentage of the premium attributable to the job.

The endorsement and the waiver agreement in the contract do not bind the injured employee. He still has the ability to sue the owner and general contractor for his injuries. However, it is also common for construction contracts to require the subcontractor to defend and indemnify the owner and general contractor from any such suits. Therefore, it is probable that the employer will have to pay an additional premium for the endorsement, pay higher future workers’ compensation premiums for the loss, and pay higher future liability insurance premiums because its policy will cover the other parties’ liability.

For example, assume the sub’s employee suffers serious injuries when tools and materials fall off a scaffold and strike him. He collects workers’ compensation benefits for his medical costs and lost wages. The sub’s workers’ compensation policy includes the waiver of subrogation endorsement, so the insurance company cannot recover any of its payments. The worker sues the owner and general contractor for his pain and suffering. However, the contract requires the sub to cover the owner’s and general’s liability, so the sub’s liability insurance pays for the pain and suffering lawsuit. The sub’s insurance pays twice for the same injury to the same worker.

Owners and general contractors require waivers of subrogation for several reasons. Insurance consultants, brokers, and risk managers usually encourage them to require waivers. Waivers protect their liability insurance and reserve it for other claims. Because a waiver reduces potential liability losses, they become more attractive to liability insurance companies and probably pay lower premiums. Also, subcontractors often do not resist these requirements because they feel they lack negotiating leverage and their insurance companies are usually willing to provide the endorsement.

A few states have curbed the use of waivers of subrogation in their workers’ compensation systems. At least four states have passed laws making the requirements unenforceable, and other states allow the employer to recover from the injured employee some of the proceeds of pain and suffering lawsuits.

In the majority of states that allow waivers, contractors should work with professional insurance agents experienced in providing construction insurance. They can suggest insurance companies that will offer the needed coverages at a reasonable cost and assist with contractual issues such as waivers of subrogation. Above all, contractors must read and understand their contracts so that their agreements do not become an ugly surprise after a loss.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

There is no set formula regarding how much liability insurance a business needs. However, the more coverage you have, the more bulletproof your company becomes.

If you are running a very successful business, you will probably want minimal disruption if an incident occurs in which you may be seen as liable. Therefore, the more coverage you have, the greater the likelihood that your company will not be affected by such an incident.

Conversely, if you don’t have enough coverage, the incident may result in you paying hundreds of thousands — if not millions — of dollars out of pocket. For many companies, that would be a death knell.

Hitting your limits

Your liability coverage will usually be included in your company’s property insurance as well as commercial auto policies. You may also have errors and omissions coverage for professional services.

The problem with not having enough liability occurs when you are faced with a legal situation where the injured party or parties don’t want to settle for the coverage amount you have purchased.

For example, if you have a $2 million liability policy and the combined parties will not settle for anything less than $4 million, then you have a problem on your hands.

If you go to court and your insurance company agrees to pay your limit to the other parties, then you are probably going to be on your own to cover your legal costs at this point.

Multiple plaintiffs are not uncommon

Oftentimes when a liability occurs, it affects more than one person. Take the 2015 explosion at a fertilizer plant near Waco, Texas. About 15 people died and over 100 were injured, many seriously.

While your business may not have the risk potential of a fertilizer manufacturer, there are always potential dangers that can affect more than one individual. Your liability limit is not in any way a per-person limit.

Understanding the numbers

In most cases, you will see two numbers on your liability policy:

1. Your occurrence limit. This refers to any single accident/incident and to subsequent related incidents. For example, in the Texas fertilizer plant incident, the blast constituted an occurrence. So, any death, injury or property damage from that accident is only covered by this occurrence limit.
2. The annual aggregate. This limit is if there are multiple and unrelated accidents or incidents. For this reason, the occurrence limit is extremely important and is the number you should look at as your coverage amount.

The ultimate backstop

There are a number of ways you can purchase higher limits. Some insurers will allow you to increase your liability limits on each of your policies. However, you may be capped at a certain limit, depending on the policy type, the size of the policy and the company.

The best solution is to purchase an umbrella policy. This will extend the limits on all or most of your policies. For example, if you have a $2 million occurrence limit, the coverage amount in an umbrella policy will pick up any coverage thereafter.

Umbrellas can be purchased in increments of a million dollars. It’s not unusual for a business to purchase $10 million or more of this excess coverage.

Deciding on limits

There are a few good ways to determine how much liability coverage you need. We can help determine how much you should have.

Liability limits should be taken seriously because your business is your livelihood. Any liability incidents are not pleasant, especially when they put your business or your assets at stake.

Robust insurance policies help neutralize these incidents and are crucial to the ongoing success of a business, especially when an undesirable incident occurs.

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, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ 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 – 2022 – BGES Group

As online threats continue growing, businesses need to consider securing cyber insurance policies that can help defray the costs of an attack on their network or a theft of their employees’ or clients’ personally identifiable information. For some companies coverage is an absolute necessity.

Businesses are faced with increasing threats and cyber criminals are constantly working to devise new ways to infiltrate organizations’ databases and extract information or find some way to monetize their hacks, like in the case of ransomware.

Cyber insurance can help your business recover from these events, but as with all insurance, there are risks that are covered and those that aren’t – and you often will have a certain amount of time to file a claim once you’ve incurred damage.

Your claim may be denied if you file too late, don’t understand your coverage, don’t understand your exclusions or don’t get the insurance company involved early enough, according to the insurance news website PropertyCasualty 360.

In order to best ensure that your claim gets paid, you should do the following:

1. File your claim on time

Most cyber policies are written on a “claims made” basis, meaning they will only cover claims that are made when the policy is in effect. If someone files a claim against your company after the policy expiration, it would likely be rejected.

Some policies may include language that allows claims to be made for a few months after the policy expires, but not all policies contain this language.

Also, if your organization experiences a cyber event that may eventually lead to a claim, it’s important that you notify your insurer during the policy period. This is really important because if you fail to alert the insurer about it early in the process, they may deny the claim.

You need to communicate to your staff (particularly any information technology personnel) that they need to alert management about any suspicious activity on your networks. Make sure that you create a policy for staff to report all suspicious activity so that it can be investigated further to see if it merits reporting it.

2. Understand the depth of your coverage

Because cyber policies are a relatively new phenomenon and continuously evolving, coverage will often vary from insurer to insurer.

It’s important that when purchasing a policy that you sit down with us to discuss your exposures (such as if you store client credit card information on your servers). This can help us find the right coverage for your organization.

Coverage will vary depending on the type of business you are running, the technology you are using and what data or company intellectual property you want to protect.

Some policies will also require that you have specific protocols and software in place to reduce the chances of your data being hacked. For example, policies will require that the policyholder applies security patches, uses encryption technology and has a secure-socket layer to protect credit card data.

If you fail to have this in place when your policy is in effect, the insurer may reject your claim if your systems are breached.

Other areas that cyber policies will often differ on include:

• Paying for any potential legal costs after a breach.
• Paying for tools to remediate any exposure.

3. Understand what’s not covered

All insurance policies have exclusions, and cyber policies are no different. There are many exclusions in cyber policies, but again, they vary from insurer to insurer. Examples of exclusions include:

• If your data is compromised when sharing it with a vendor, such as a payroll provider.
• If you have a system pipeline into a client’s network and the network is hacked.
• Fraudulent entry into certain parts of your network systems.
• Patent or copyright infringement.

Again, it’s crucial that you read your policy before signing and that you evaluate whether any existing or future contracts with vendors or clients fall outside the policy’s coverage area.

Two of the major areas of coverage you may want to look for in exclusions are:

• Will the policy cover data that is stored outside of your network, either on the cloud or on a vendor’s network?
• Will externally generated data be covered if a breach occurs within your system?

4. Get the insurer involved early

Sometimes a breach is not readily apparent. You or an employee may notice that some programs are not performing as usual.

When in doubt, reach out to us or the insurance carrier if you think you’ve had a breach. Even if it’s just asking questions or trying to clear up your uncertainty, it’s better to contact the insurance company so that the event rises to its radar.

It’s better to reach out early because it will give the insurer a chance to investigate the matter and determine if there has been any exposure.

This will give you peace of mind that you will be protected should the matter rise to the level of a genuine claim.

The worst thing you can do is to wait until after you’ve started receiving complaints from customers, vendors or regulators. At that point your insurer will have a much more difficult task on its hands.

Getting the insurer involved early will let it get ahead of the claim, which makes managing it easier – and it can limit the amount of fallout.

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 60+ 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 – 2022 – BGES Group