Author Archive: BGESGroup

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Performing a Thorough Background Check

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Employment background checks are not just for executive-level management. A thorough background check should be performed to avoid making any assumptions about an employee’s history.

To help you get started, here are some essentials of a complete background check:

Current address – Confirm a current address through a telephone directory, confirmation with landlord, rental or mortgage company, or county tax office.

Former addresses – Confirm prior addresses through former employers, credit agencies, or by contacting landlords of former residences.

Other detailed information you might choose to verify is the amount of rent or mortgage paid, whether it was paid on time, details of complaints made against the applicant, whether their former residence was left in good order when vacated, whether they left on their own accord, and any eviction details, if applicable.

Current and former employers – Employers are reticent about providing too much information on current or former employees, since negative references occasionally result in lawsuits.

Most employers will verify an employee’s job title, length of employment, starting and final salary, and reason for leaving. You might obtain resume’ data on old application forms to compare with the resume’ of the person you are considering for the position.

A more detailed background check might include trying to establish contact with the applicant’s immediate supervisor or manager. Again, there are legal limits on taking this route and there is a fine line between gathering information and invasion of privacy.

Obtain the applicant’s permission in writing if necessary. Protect your liability exposure by discussing the legality of the background check with your company’s lawyer beforehand.

Education – Transcripts from most secondary institutions can usually only be obtained either by the applicant themselves or through a signed release that includes enrollment dates, department and subject of study or major, student identification number or Social Security number, and date of birth.

A photocopy of the degree or certificate should be obtained for verification, if possible. Contact the applicable registrar’s office and they will be able to specify what is required to release information.

Additionally, verify that the college is legitimate. Fake diploma mills offer degrees from fictitious institutions possessing names very similar to known established educational institutes, so do not  automatically assume you recognize the name.

Credit check – This is not legal in all states, so check your local laws or with an attorney before acting. Usually there are exceptions to the rule for certain fiduciary positions, even in those states.

A credit check is usually required in those situations where the position involves security, fiduciary responsibility, or bonding. Verify that all information provided in the credit check conforms to the information provided on the application.

Poor credit references should be cross-referenced and authenticated.

References – All personal references listed by the applicant should be contacted. If it is a basic employment check, the integrity of the applicant’s personal character can be established by phone.

Detailed checks may necessitate personal contact to meet with the references face to face, as the references given might provide information prejudicial in favor of the applicant.

Miscellaneous – Additional items which may be of relevance include drug tests, criminal records check in all states listed on the application form, driver’s abstracts and records check on civil suits.

The takeaway

Be methodical and take the time to perform a thorough background check that satisfies the need of your business.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Proposed Rule Makes Independent Contractor Classification Easier

Proposed Rule Makes Independent Contractor Classification Easier

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The federal Department of Labor has proposed a regulation that would make it easier for employers to classify workers as independent contractors.

The regulation would use an “economic reality” test to determine a worker’s status. This means that if worker is an employee of a hiring entity “as a matter of economic reality, the individual is economically dependent on that employer for work.”

Conversely, the individual is an independent contractor “if the individual is, as a matter of economic reality, in business for him- or herself.”

The proposed rules are a looser standard than current DOL regulations and would allow employers to classify outside workers as independent contractors more easily.

Whether a worker is an employee or an independent contractor is critical when it comes to important issues such as benefits eligibility (health insurance, vacation), workers’ compensation coverage, wage and hour laws, and many other matters.

The department said that the rule is designed to “bring clarity and consistency to the determination of who’s an independent contractor …” Currently, courts, the DOL and other agencies consider numerous factors when making that determination. For example, the Internal Revenue Service looks at as many as 13 factors.

The proposed rule

To determine whether the individual is “economically dependent” on an employer, the proposed regulation employs five factors, with the first two being the “core” factors and none of them on their own tipping the balance. The core factors are:

  • The nature and degree of the individual’s control over the work – This means how much control the individual has over work hours, project selection, and the ability to work for others who might be competitors of the employer.
  • The individual’s opportunity for profit or loss – This looks at the individual’s opportunity to make or lose money “based on his or her exercise of initiative” and spending on materials and labor to further the work.

The other factors, called “additional guideposts,” are:

  • The amount of skill required for the work – This means “the extent the work at issue requires specialized training or skill that the potential employer does not provide.”
  • How permanent the working relationship is between individual and employer – If the relationship is “by design definite in duration or sporadic,” the regulation would tend to classify the individual as an independent contractor.
  • Whether the work is part of an integrated unit of production – This means whether the individual’s work is separate from the employer’s production process or a part of that process. Separate work implies independent contractor status.

It is important to note that the regulation does not mention as a factor the form the employer uses to report income to the IRS. The mere fact that an employer reports an individual’s compensation on Form 1099 has no bearing on whether that person is an independent contractor. This is contrary to the belief of many employers.

The takeaway

The proposed rule would make it easier for employers to designate individuals as independent contractors.

Groups such as the American Trucking Association have praised the proposal, while a workers’ advocacy group said that “construction workers, agricultural workers, janitors, home care workers … all stand to lose from this rule.”

The public has the opportunity to send comments to the DOL on the proposed regulation until Oct. 26. The department reportedly wants to make the regulation permanent before the end of the year.

The concern is that President Trump may lose his bid for re-election and that his opponent, Joe Biden, may block the regulation from taking effect.

If you are an employer, it is unclear whether the workers you hire are independent contractors. Depending on the outcome of the presidential race, it may not be much clearer in the future.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Why Your Business May Need Pollution Insurance

Why Your Business May Need Pollution Insurance

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Many businesses that produce some type of pollutant throughout the course of daily business operations don’t know they are doing so.

Others know they are producing pollutants and have processes and safeguards in place to reduce their release into the environment. A business can be held liable for some very costly damages when these byproducts pollute another property or harm another individual.

Pollution liability clauses were once part of general liability policies, but the extensive asbestos problems in the 1970s spurred most insurers to remove pollution protection from their general liability policies.

Today, pollution liability coverage is obtained through a separate pollution insurance policy. Pollution insurance policies are written for businesses of all sizes, shapes, and forms – from pig farms and printers to apartment complexes, salons, and dry-cleaning businesses.

Why pollution insurance?

Many businesses run the risk of creating pollution during normal daily operations.

There’s also a risk from any existing pollution already on a business’s site of operation. In either case, a business could be held liable if its pollution ends up on a third party’s property, causes damage to the property or harms an individual.

Without insurance, the business would be on the hook for paying for those damages out of pocket.

 

What do policies cover?

The basic premise of a pollution policy is that an insured party gets a claim related to damages caused by pollution it caused.

This insurance will protect your financial interests in the event a clean-up becomes necessary. Buying pollution liability insurance will cover your interests against lawsuits where a third party could be injured by a toxic substance produced as a result of your work.

Like most types of insurance, the specifics of a pollution policy can vary somewhat from insurer to insurer.

Depending on the insurer, a pollution policy will typically cover

  • Damage to properties and individuals
  • The cost of cleaning up pollution on a third party’s property
  • Pollution incidents that occurred after the policy was
  • Investigative, legal, and court costs should the claim enter the legal system.

  

Who needs coverage?

Businesses that have risks related to the handling of pollutants and hazardous materials, design professionals who work with projects where there are environmental issues as well as those who own and occupy premises that have environmental issues need pollution liability insurance.

This includes:

  • Property owners and tenants whose buildings and land have a history of having pollutants on the property or premises. This would include a building on land that had an underground storage tank that leaked fuel oil before it was removed, contaminating the soil.
  • Contractors such as roofers who handle pollutants like tar as a part of their operations need contractors pollution liability insurance to cover damage resulting from a pollution incident.
  • Architects and engineers who are involved in projects that have issues related to pollutants need to add pollution liability to their errors and omissions insurance policy to manage the risk of making a mistake regarding the presence or absence of pollution issues as they plan and execute a project.

 

The takeaway

Don’t overlook pollution insurance as an important element of risk management. Should any questions or concerns about pollution insurance and insurance requirements arise, call us.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Don't Get Caught without a Business Succession Plan

Don’t Get Caught without a Business Succession Plan

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Many business owners may be good at running their companies, but the majority of them are failing to address essential long-term planning that is critical to sustaining their businesses.

The one area that the majority of business owners often neglect is planning for business continuity if they die or become disabled, according to the “MassMutual Business Owner Perspectives Study.”

While the question of your death or disablement is not one that’s fun to ponder, it makes good sense for business owners to put plans in place in case the worst happens. This is especially important now amid the COVID-19 pandemic which has put the issue front and center for many business owners who want to ensure their company can survive should they become incapacitated or pass on.

One of the main ways to ensure your business’s survival is to have a buy-sell agreement, which would prompt the sale of your company in the event that you are unable to run it any longer.

Business owners in the survey identified these concerns:

  • The effect on the business of the death or disability of the owner or key employee.
  • Protecting the business from disability and death of an owner or key employee had the second and third highest levels of importance (44% versus 42%, respectively). However, these two pillars were not very top of respondents’ minds, with 55% saying they rarely or never think about the effect of disability and 59% saying they rarely or never think about the effect of death.
  • Of those with a buy-sell agreement in place, just over half said it was funded with life insurance, but only 5% said it was funded with disability buy-out insurance. The rest were either funded with cash flow from the business or not funded at all.

What’s a buy-sell agreement?

A buy-sell agreement, also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. If the business has just one owner, then the agreement should specify who would be buying the company and continue its operation.

A buy-sell agreement should be designed to protect the business from the five D’s – death, disability, divorce, departure and disqualification.

When properly executed, a buy-sell agreement can help ensure the continuity of the business when ownership needs to change hands for any reason. It is a legally binding agreement that requires one party to sell and another party to buy ownership interest in a business when a triggering event occurs, such as the death, disability or retirement of an owner.

This agreement structures the method and manner in which the business will continue in the event of the owner’s death.

In a 2003 article for Franchising World magazine, Patrick Olearcek explains: “The proprietor and one or more key employees [or partners] enter into an agreement which provides that the proprietor’s estate will sell the business to the employee at death.

By agreeing to buy the company, the key partner, employee or associate relieves the owner’s family of the responsibility, and instead provides them with a lump-sum payment. A key employee, as opposed to the owner’s family, is in a much better position to continue the business operations properly.

Funding the agreement

The majority of buy-sell agreements are funded with life insurance. In the case of a sole proprietorship, a policy covering the life of the owner is typically bought and paid for by the key employee who has agreed to purchase the business.

The employee is also the beneficiary of the policy, which has a death benefit equal to the pre-determined purchase price of the business. Upon the death of the owner, the employee would receive the proceeds of the life insurance policy, then transfer that money to the owner’s heirs in exchange for all interest in and assets of the business.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

This Insurance Can Help You Survive Another Business's Disaster

This Insurance Can Help You Survive Another Business’s Disaster

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In October and November of 2011, floods inundated large parts of central Thailand, including thousands of factories that made everything from automotive parts and hard disk drives to eyeglass lenses and air conditioners. In addition to the human and economic cost in Thailand, the disaster affected businesses around the world.

Carmakers in Detroit shut down because they could not get the parts they needed and half of the world’s hard disk drive production was wiped out, leaving computer manufacturers with stalled assembly lines. When disasters like this occur, businesses around the globe feel the effects.

In addition to making advance arrangements for alternative suppliers, businesses can protect themselves by purchasing two types of insurance coverage: Contingent business interruption, and supply chain insurance.

Contingent business interruption

Contingent business interruption insurance, also called business income from dependent properties, pays for a business’s lost profit plus continuing expenses when it must slow or stop operations because of damage to another business’s property.

These other businesses can be customers or suppliers. For example, if a motorcycle dealership was left with no bikes to sell because its supplier in Japan suffered a fire, the insurance would make up part of the lost income.

The damage must result from a cause of loss that the insurance policy covers, such as fire or a hurricane. This is important because standard property insurance policies do not cover losses caused by catastrophes such as floods and earthquakes.

Supply chain coverage

Supply chain insurance takes contingent business interruption a step further. It covers income lost because of damage to a supplier’s or customer’s property. However, it also covers losses resulting from events that do not cause physical damage. These may include:

  • Labor disruptions
  • Production process problems
  • Trade disputes
  • Wars
  • Political turmoil
  • Closed roads, bridges, railroads and shipping channels
  • Public health crises
  • Actions by regulators
  • Financial difficulties

Businesses often have different tiers of suppliers, with key suppliers in the top tier and less important ones in the lower tiers. It is common for them to insure only the top tier.

However, insurers are increasingly offering multi-tier coverage. This applies to the business’s entire supply chain. Multi-tier coverage provides a more comprehensive solution for the business while also spreading out the insurer’s risk.

Some insurers offer options. One lets policyholders choose between measuring losses in terms of gross earnings or number of units from the supplier. Some also offer agreed-value coverage, which eliminates penalties for buying amounts of insurance less than the amounts of value at risk.

Businesses should determine where they are vulnerable to supply chain losses and develop back-up plans for dealing with unexpected disruptions. These could include reserves of the needed supplies and contracts with alternative suppliers.

Insurance can help the business recover from a supply chain loss after the fact. Advance planning can help make that loss as small as possible.

If you would like to know more about business interruption insurance, don’t hesitate to contact us.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Home-Based Business Not Covered by Homeowner's Policy

Home-Based Business Not Covered by Homeowner’s Policy

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With recent advances in both technology and the internet, and many people working from home or having been laid off due to the COVID-19 pandemic, many Americans have or are planning to start a home-based business.

But will your homeowner’s policy cover the risks of a home-based business? In nearly every case, the answer is no.

Exceptions exist in the form of special endorsements, such as an endorsement to run a child-care operation from your home, but fewer and fewer companies offer such endorsements.

Even with a special endorsement, policies may give a very limited amount of coverage for business property, like computers and other electronics. The bottom line is, nearly all homeowner’s policies clearly exclude business operations and not having a proper coverage in place can leave you with uninsured exposure. This is why you need separate business insurance to cover your home-based business risks.

Business insurance

Home-based business owners may feel that they don’t need coverage because nobody steps foot on their premises. Even if this is true, liability claims often happen away from the business premises. Business insurance covers you in situations where someone takes action for information on your website, or if someone is injured by the product, or service, you provide.

Off-premises injury can occur when someone trips on or is injured by property you have taken into the field, such as to a trade show or event. A business policy will cover these injuries as well as meet the insurance requirements of most trade shows and events you may attend.

Competitors and customers both may sue a business owner for personal injury. Business policies include coverage for personal injury lawsuits, should someone take legal action against you for things like libel or slander.

From a property standpoint, any business property you may have in your home is usually excluded or has very limited coverage under a homeowner’s policy. Getting coverage to protect your computers, equipment, furniture, inventory and any other physical assets helps keep your business in operation with minimal disruption and financial loss.

A business policy also usually covers loss of income, which is payment for income you did not earn as a result of a loss covered under your policy. Policies may also include coverage for things like valuable papers, damage to property of others, property coverage off-premises and a number of other additional coverages.

A business owner’s policy includes the coverage described above and is specifically designed to protect the unique interests and property of the owner of a business. This package policy includes nearly all of the coverage you need.

Other coverages

However, if you are providing some kind of professional advice, consulting or other non-tangible professional services, you may also need a professional liability policy. This is also known as errors & omissions insurance. In addition, if you have any employees, you are probably required by law to get workers’ compensation insurance.

Depending on the type and size of business you own, you may have yet further insurance needs.

The takeaway

Hoping that your homeowner’s policy is going to cover you in the event of a claim will leave you frustrated if your business experiences a loss.

Businesses have a much higher risk than a homeowner’s policy allows for, and homeowner’s claims adjusters will quickly deny coverage for business-related claims in the event of a loss. Talk to us today to explore your home-based business insurance needs and options.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                       

 

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

Injury and Illness Prevention Plans Save You Money, Period!

Injury and Illness Prevention Plans Save You Money, Period!

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Employees are your most valuable assets, but many businesses overlook the importance of having a workplace safety program in place to protect them.

Loss control is about employers caring for their workers’ safety. Successful loss control programs are means of reducing injuries and the severity of a potential accident.

If you want to reduce the costs and risks associated with workplace injuries and illnesses, you need to address safety and health right along with production. You should start by writing a plan and see that it is put into practice. Specifically, that means creating and implementing an Injury and Illness Prevention Program.

The IIPP will identify what has to be done to promote the safety and health of your employees, and the safety of your worksite. Elements of your IIPP should include:

  • Assignment of responsibility
  • Communications
  • Compliance
  • Inspections
  • Investigations
  • Correcting unsafe conditions
  • Training
  • Record-keeping.

Taking this approach to loss control will make the workplace safer, decrease workers’ compensation and overtime costs, reduce turnover rates, and minimize the risk of Occupational Safety and Health Administration fines – all of which in turn will increase productivity and profits.

Loss control starts with an authentic commitment from management. You should also ensure that supervisors, managers and employees are all on board and, together, the collaborative teams will achieve success.

Hazard assessment, evaluation, action-planning, problem-solving, implementation, record-keeping and documentation are the steps for a successful loss control plan.

Open communication is vital

Open communication with employees is important to facilitate a successful loss control program. Employee cooperation is connected to everyone understanding what the program is all about, why it is important to them and how it personally affects them.

Consider different channels via which your workforce can be informed, including meetings, e-mails, newsletters or text messages. Training is an important aspect of your program to ensure everyone has a good understanding of workplace safety.

Records are an important part of your safety plans. Records that should be maintained include:

  • Training
  • Employee injuries
  • Accident/injury investigations
  • Inspection records/corrective actions
  • OSHA 300 logs (where required)
  • Job analysis
  • Safety meetings
  • Equipment and vehicle inspections
  • CPR/first aid training
  • DMV driving records.

The takeaway

Remember to update and maintain all your programs at least once a year and/or if there are any changes.

If you are ready to make the commitment of reducing injuries and illnesses and managing claims, you can expect your costs to go down and your profits to go up.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

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How to Streamline your Insurance Policy Audit

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Are you due for a workers’ compensation premium audit? Audits are how insurance rates are determined, and it’s possible that an audit will uncover information that can actually save you money. In any case, it pays to be prepared. These five tips can help you get ready.

  1. Let your broker know when there are changes in your staffing, payroll or areas of operation. This is important not just at audit time but all the time. Your rates are based on variable rating information, including the number of employees, job classifications, the states in which you operate, etc. Updated information results in more accurate premium assessments.
  2. Get your records ready. Your auditor will need to see records such as federal and state tax returns, ledgers, checkbooks, contracts and employee or contractor tax documents. If you prepare your records in advance, you’ll speed up the audit process.
  3. Make sure you break out various types of compensation in your records. For example, to set your premium, your broker considers pay but not contributions to employee benefits packages and other perks, so it’s important to make sure your records are clear on the various types of compensation. Also make sure overtime pay is clearly defined since it’s classified as regular pay for workers’ compensation insurance purposes.
  4. Ensure that contractors have their own insurance. This is important not only from an audit standpoint but from a liability prospective as well. If an uninsured contractor has an accident while performing work on your behalf, you can be held liable. If an audit identifies contractors for whom you don’t have certificates of coverage, you can be charged for their premiums.
  5. Remain on hand to answer questions. As your auditor reviews your material, he or she may have questions or need additional data. If you are available to provide answers, your audit will be completed more quickly.

By following these tips, you’ll be more prepared for your workers’ compensation premium audit. A fast, efficient audit process can save time for both you and your auditor, so it pays to be prepared.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Coronavirus Could Trigger Multiple Insurance Policies

Coronavirus Could Trigger Multiple Insurance Policies

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Coronavirus Could Trigger Multiple Insurance Policies

COVID-19 is forcing businesses to face a number of risks, liability and insurance implications.

Companies could seek coverage for a variety of claims stemming from the outbreak, including workers’ compensation, business interruption, liability and more.

And, now that it is a pandemic, the economic fallout may be expansive – hitting your company’s operations in the form of lower sales or supply chain disruptions.

Now is a good time to understand which of your insurance policies could come into play.

Workers’ compensation

Workers’ compensation policies generally extend insurance benefits to employees for injuries and illnesses “arising out of or in the course of employment.”

That wording makes it difficult for most workers to file a claim if they suspect that they got the coronavirus at work, presumably from another employee, customer or visitor to the workplace. But if an employer knows that the virus is in the workplace, coverage could apply.

Workers’ compensation could come into play in the following instances:

  • Health care personnel who work where there are patients being treated and tested for COVID-19 would have a strong claim if they contracted the virus.
  • Employees who travel overseas for business and contract the illness.
  • Employees who are exposed to the illness at work by an infected co-worker.
  • Employees who are assigned to work in a location with infected parties.

However, workers’ comp insurance would likely not cover employees who are working on assignment abroad for more than a short time.

Business interruption

One major fallout from the spread of COVID-19 is that it has cut into global supply chains, forcing manufacturers around the world to suspend production. This has been especially true for companies that rely on China for their parts and materials.

But now that the virus has exploded in a number of countries, the threat to supply chains will only increase. This has already started affecting companies in the United States. If your company’s operations are affected or stopped due to the virus, you may be wondering if the business interruption coverage in your property policy or business owner policy may pay out.

Business interruption coverage replaces income that was lost due to a disaster, such as a fire on the premises of the company or one of its suppliers, or a hurricane that hinders a company from operating.

However, any hit to your income from coronavirus would not be physical damage, which is a prerequisite for this coverage. Viruses and disease are typically not an insured peril unless added by endorsement. In many cases, the policy may specifically exclude coverage for viruses and disease.

There is potential coverage through communicable disease coverage under proprietary insurance carrier forms if the insured is closed by a “public health authority” order for closure, decontamination, etc. But it’s worth noting that these usually require the order to happen, so the insured cannot voluntarily decide to close and then claim coverage.

General liability

In terms of liability, a third party – customer, vendor or guest – could claim they were sickened on your property and sue your business for negligence for failing to provide a clean facility, which could trigger your commercial general liability policy.

Any company that deals with the public or customers, like a retailer, restaurant, hotel, daycare center or a gym, would be at greatest risk for this type of action.

While the chances of them winning such a case would be small, you could still face legal bills, which your CGL policy would typically cover. If there is coverage, it would come under the policy’s “bodily injury” portion.

Some CGL policies exclude claims arising from a pandemic, virus or bacteria, so read your policy carefully. Many insurers also include broadly worded pollution exclusions that could preclude or limit coverage.

Business travel accident insurance

This insurance could cover employees who travel on business domestically or internationally, foreign employees of U.S.-based businesses and U.S. employees on offshore assignments. The insurance provides:

  • Traditional accidental death & dismemberment coverage.
  • Emergency evacuation, repatriation, and out-of-country medical benefits that cover costs for the treatment and transportation of sick or injured employees.
  • Optional coverage for unexpected medical expenses.

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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

Why Slips, Trips and Falls Are So Hard to Avoid

Why Slips, Trips and Falls Are So Hard to Avoid

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Slips, trips and falls constitute the majority of general industry accidents, cause 15% of all accidental deaths, and are second only to motor vehicles as a cause of fatalities.

With those stark realities, any employer that fails to guard against these preventable accidents is asking for an injury to occur. And despite all of American employers’ best efforts, slips trips and falls:

  • Result in more than 95 million lost work days per year (or about 65% of all work days lost).
  • Account for nearly 25% of all reported injury claims every year.
  • Accounted for a 17% increase in the number of deaths from such accidents in 2018, compared to the prior year.

Obviously, there is a disconnect between employer safety measures and the outcome.

A December 2018 survey of almost 1,300 safety professionals, carried out by Safety Daily Advisors, found the “big three” causes of slip, trip and fall incidents are:

  • Human factors – 54%
  • Wet or slippery surfaces – 25%
  • Poor housekeeping – 16%

While you can put in place stringent safety procedures, require fall-protection equipment and install non-skid surfaces, there is one thing that is hard to control: the human factor.

That’s why it’s important to instill in workers the importance of:

  • Immediately cleaning up spills,
  • Closing file drawers when done,
  • Picking up loose items from the floor,
  • Keeping aisles and walkways free from clutter, and
  • Keeping their personal workspace clean and orderly.

But it doesn’t pay to tell them once. Regular reminders can help instill safety mindedness like the above.

Slippery surfaces a major challenge

Slippery surfaces are one of the biggest challenges a business faces in protecting its employees – and customers, for that matter. It’s important, then, that you know in which types of area slippery surfaces are likely to occur. You should pay special attention to these high-risk areas:

  • Parking lots, especially in areas where water is pooling,
  • Sidewalks,
  • Food preparation areas, where grease and water can cause hazards, and
  • Non-carpeted entryways or lobbies.

Conduct walkway audits to identify safety issues, so that you can develop plans to eliminate them. The plans need to account for varying weather conditions.

Besides those physical aspects, also remind employees to wear proper shoes when it’s raining and not to rush when walking in those areas during rainy days.

The problem is that walking is something we do almost automatically and these days many people are distracted, reading and texting on their smartphones while walking, or maybe lost in thought about their weekend plans.

Distraction results in blindness to their surroundings. Moreover, their emotions, sense of urgency, fatigue or complacency can take over.

But training your employees to be more mindful in areas with slip, trip and fall hazards is not as simple as telling them to “pay attention” or “don’t get distracted.”

Behavior-based safety approach

Changing behavior is not easy and it takes time and commitment, but the best solution is a behavior-based safety approach.

The first step you need to take is to help your employees become aware of unsafe habits and analyze their mistakes. They should:

  • Walk with caution and make wide turns at corners.
  • Test footing before committing weight.
  • Open doors with caution.
  • Use railings on stairs.
  • Ensure there are three points of contact on ladders and equipment.
  • Look before moving.
  • Wear appropriate footwear.
  • Be aware of weather forecasts.
  • Push (rather than pull) carts to allow a better line of sight.
  • Keep eyes and mind on the task in hand; no multitasking.
  • Not text or talk on phone while walking.
  • Be alert for trip hazards.
  • Recognize dangers of walking on ice.
  • Take designated walkways, rather than shortcuts.
  • Not wear sunglasses in low-light areas.
  • Report all potential hazards.

It will take time and effort to change employees’ perception of risk and personal responsibility. But with a proactive approach that builds a culture and fosters an attitude and behavior that puts safety first, workplace injuries will be reduced.

On your end, you can:

  • Implement good housekeeping practices.
  • Provide proper lighting, traction aids and require safe footwear.
  • Keep walking surfaces clean and in good repair.
  • Install railings and guards.
  • Display warning signs in high-risk areas (‘slippery when wet’-type signs).

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.

Need More Work, Customers, a Plan B To Generate Massive Cash Flow To Cover Business and Personal Expenses?  Click here to learn more.                        

 

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