One of the keys to keeping the costs of a workers’ compensation claim from spiraling out of control is prompt claims reporting.

Claims are routinely filed late, either by the injured worker who fails to report it to the employer, or the employer dawdling or procrastinating and not reporting the claim to its insurer. Either way, those delays result in delays in treatment, which can exacerbate the injury, leading to additional medical care and higher costs.

In fact, a 2015 study by the National Council on Compensation Insurance (NCCI) found that the average claims for workplace injuries that were reported four weeks after the incident, ended up costing nearly 45% more than claims that were reported in the first week after injury. Waiting to file claims three to four weeks after the injury ended up costing 29% more.

The message for employers is to require prompt reporting of workplace injuries and to immediately report an injury as soon as possible after you are made aware of it. Those added claims costs, while originally borne the insurer, can come back to haunt you in the form of higher premiums during your next policy renewal.

The NCCI, which helps set rates in more than 30 states, found that claims that were reported more than two weeks after an incident were characterized by:

• More attorney involvement, and

• More use of lump-sum settlement payments.

“These characteristics suggest that claims with a delay of more than two weeks are more complex to settle, take longer to close, and involve a longer period before the injured worker can return to work,” the NCCI wrote in its report.

The fallout

Many employers delay reporting workplace injuries, particularly if they seem minor at the time. A worker may be injured — maybe they strained a muscle — but does not require medical treatment, so the employer thinks “It’s a small injury and they’ll heal up in the next few days. No big deal.”

Not reporting even minor injuries can end up costing you. Here’s why:

• Delaying reporting makes an investigator’s job harder. The longer the time between the accident and reporting leaves the potential for inaccuracies, misstatements and even destroyed evidence in cases where the claim is falsified by the worker.

• The chances of litigation increase with delayed reporting. Claims reported on the same day they occur involve an attorney 13% of the time, compared to 32% for claims reported after week four, the NCCI found.

• Any delay in medical treatment, even if it’s just a week or two, could end up making injuries worse, resulting in more treatment and medications. It also is likely to extend the life of the claim as the worker’s injuries may take longer to heal and they could be unable to work.

• Claims that stay open longer have a lower closure rate at 18 months after injury, according to the NCCI.

• By delaying reporting, employers shortchange their workers, which can affect employee morale.

The takeaway

When you become aware of a workplace injury, start the reporting process as soon as possible. The longer you wait, the costlier the claim likely will be and the more chance your injured worker will hire an attorney.

Establish a claims reporting protocol for all employees to follow. They should be required to immediately report any work-related injury, no matter how small. That includes first aid claims.

Put in place protocols to ensure that any injury report gets to your office’s point person so the next step can be determined. Let employees know that it’s in their best interest to report any work injuries and that you won’t retaliate for filing a claim.

If all employees are responsible for reporting injuries to their supervisor, every supervisor needs to know what their own responsibilities are, as well.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

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 – 2023 – BGES Group

late reporting of a workers comp claims 

Workers Compensation Claim form on files complaint for work injury

More employers are starting to use return-to-work programs for injured workers even if they were not injured on the job, according to a study by Prudential Insurance Co. of America.

Many employers have a return-to-work program for their injured workers because it cuts down on workers’ compensation claims costs, and also on the costs of a key employee missing work. It also keeps injured workers from becoming disaffected from the workplace, which makes it harder for them to re-enter later.

But more employers have discovered the value of also returning employees to work who may have to be absent due to a number of non-job-related ailments, including, but not limited, to:

• Cancer

• Heart disease

• Diabetes

• Mental health conditions

• Back pain

• Injuries incurred outside the workplace.

The survey found that 49% of large employers have a return-to-work program for workers recovering from illness or injuries suffered off the job, and another 22% of employers plan to add such programs in the near future.

Prudential noted that workers’ comp and non-occupational disability return-to-work programs should be similar in approach, and that both can save a company money. While the cost/benefit numbers are more readily apparent in the workers’ comp arena, they may not be as easily identified in programs for non-work-related injuries or disabilities.

However, if you have an experienced staff member who is out of action, and work is not getting done or it’s being performed by someone with less experience and skill, it can hurt your operations and bottom line.

Return-to-work strategies and programs have traditionally been used to reduce workers’ compensation costs. But they can also:

• Improve productivity,

• Improve morale across an organization,

• Save organizations time and money, and

• Protect you from losing talent.

Effective strategies

Examples of effective return-to-work strategies include offering the opportunity to work part- time, telecommuting, modifying work duties, modifying schedules, and implementing reasonable accommodations to provide employees with the tools and resources they need to carry out their responsibilities.

Efforts such as these can help employees return to work sooner, even while still recovering. This allows the employee to protect their earning power while at the same time boosting the organization’s productivity.

Furthermore, in many instances, the ability to return to work after injury or illness plays an important role in the employee’s recovery process.

Return-to-work basics

• The injured worker and the physician should discuss time frames for recovery, expected duration of pain, the potential need for medication and options for returning to work.

• The worker should resume, if possible, some form of work that meets the restrictions and requirements outlined by the treating physician. Such modified work is the cornerstone of job rehabilitation.

• The treating physician should be included in determining whether the physical demands of a modified job are appropriate for the recovering worker.

• The treating physician needs to understand the patient’s work environment and occupational tasks. In difficult cases, a videotape of the job, formal job analysis or an ergonomic report may be helpful to assist in establishing work guidelines.

• Work guidelines should be flexible and be updated as the worker’s medical condition improves.

• The worker’s physical capacity to perform their job needs to be assessed so that they can eventually resume previous duties with no ill effects on their health.

• An injured worker needs to learn to pace their work, use proper body mechanics and avoid overexertion so they don’t exacerbate their injury or illness.

• If the treating physician and employer believe there are no suitable duties in the present workplace, it may be necessary to refer the injured worker to a vocational rehabilitation professional.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

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 – 2023 – BGES Group

Workers’ Compensation is shown on the conceptual business photo

The accounting firm on the building’s top floor accused the roofing contractor of ruining its computer network equipment, even though the contractor wasn’t working on the building at the time. The contractor had finished replacing the the roof in September. Heavy snows fell that winter, and it started melting rapidly when March brought above-normal temperatures. The accounting firm’s systems support analyst came in to work on a Monday morning to find pools of water in the server room and the servers inoperable. Given that the first four months of the year are a somewhat busy time for accountants, the firm could not remain without its computer network for long. It rush-ordered new servers, paid a premium for express shipping, then paid even more to have technicians remove the ruined servers, install the new ones, load the data from backup records kept off site, and perform network testing, all within a period of a few days. The cost to the firm was high, both in terms of repair and replacement costs and extra expenses for its accountants to access an alternative network. The firm sued the building owner and the roofing contractor to recover thousands of dollars in losses.

This is where the contractor’s completed operations liability insurance coverage came in handy. This insurance covers the contractor’s legal liability for bodily injuries or property damage that his work causes after he has finished it. Before the insurance applies, however, the incident must meet several conditions:

* The incident must be an “occurrence.” The policy defines this as an accident, but it can also be damage that happens over time because of harmful conditions. The roof suddenly letting melting snow gush all over the servers is an occurrence. So is the roof allowing melted snow to seep into the walls over a period of months, causing plywood and insulation to rot.

* It must occur during the policy term. It is not necessary for the contractor’s mistake to happen during the policy term, but the injury or damage must occur then. The contractor finished the roof in September, his liability insurance policy renewed in January, and the damage to the servers occurred in March. The policy that took effect in January applied, not the one in effect in September.

* It must occur away from the contractor’s own premises. Liability insurance does not apply to damage to premises the contractor owns or rents.

* The injury or damage must arise from the contractor’s work. This means that the contractor’s portion of the job led to the injury or damage. The roof was supposed to keep water out of the building; water entering the building implicates the work done.

* The contractor’s work must be completed or abandoned. It’s complete at the earliest of: When all the contract work is complete; when all the work at that job site is complete; or when the customer puts the work to its intended use. The contractor finished the roof in September and the building owner put it to immediate use, so the insurance company will consider it to be complete.

* The insurance will not apply to bad work that did not cause damage to something else unless a subcontractor did the job for the contractor. If the building owner discovered the problem with the roof before the accountant’s servers took a shower, the insurance would not apply to fixing the roof. It also doesn’t cover liability for the building becoming unusable or less usable because it contains the contractor’s defective work.

Contractors should work with insurance agents knowledgeable about completed operations insurance to ensure that they have the proper coverage. Completed operations losses can be catastrophic, so financial protection is essential.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

A street of partially finished new homes in a new suburban housing development in Spokane, Washington, USA.

Workers’ compensation programs are a vital safety net for both employees and employers, providing financial protection in the event of work-related injuries or illnesses. As a business owner in New York, New Jersey, or Connecticut, selecting the right workers’ compensation plan can be a challenging task. In this article, we’ll explore four types of workers’ compensation programs: Guaranteed Cost, Payroll/Workers Compensation, Professional Employer Organization (PEO), and State Type Plans. We’ll also introduce BGES Group, a reliable partner that simplifies the process and offers one-stop shopping for all your coverage needs.

1. Guaranteed Cost Workers’ Compensation Program

The Guaranteed Cost workers’ compensation program is a popular choice for many business owners. This plan provides predictable premium costs, allowing you to budget with confidence. With Guaranteed Cost, your premium is calculated based on your company’s payroll and industry risk factors. This stable model ensures that your costs won’t fluctuate due to claim frequency or severity.

2. Payroll/Workers Compensation Program

Payroll/Workers Compensation programs combine payroll services with workers’ compensation insurance, streamlining the administrative process. By integrating these services, business owners can save time and effort while maintaining compliance with state regulations. This type of plan is particularly beneficial for small to medium-sized enterprises that prefer a hassle-free approach to managing payroll and insurance.

3. Professional Employer Organization (PEO)

PEOs are a unique solution for business owners who want to outsource their HR and employee management functions. When you partner with a PEO, they become the employer of record for your staff, handling payroll, benefits, and workers’ compensation on your behalf. This arrangement not only simplifies administrative tasks but also grants access to cost-effective insurance plans, leveraging the PEO’s larger pool of employees.

4. State Plans

State Type Plans are government-operated workers’ compensation programs designed to ensure coverage for businesses that may have difficulty obtaining insurance through traditional channels. These plans vary by state, but they generally offer benefits similar to private insurance options. They can be a viable choice for business owners in specific industries or with unique risk profiles.

Why Choose BGES Group?

BGES Group is your trusted partner in navigating the complex world of workers’ compensation programs. With extensive experience in serving businesses in New York, New Jersey, and Connecticut, BGES Group understands the unique needs and challenges faced by local entrepreneurs.

One-Stop Shopping

One of the standout advantages of working with BGES Group is their commitment to providing comprehensive coverage solutions. Whether you’re a contractor, logistics company, auto service, limousine service, manufacturer, or any other type of business owner, BGES Group offers tailored plans to suit your specific requirements.

Representing the Best Plans

BGES Group has established relationships with leading insurance providers and represents the best workers’ compensation plans available. This means that when you work with BGES Group, you gain access to a diverse range of options, each designed to meet the needs of different industries and business sizes.

Expert Guidance

Choosing the right workers’ compensation program can be overwhelming, but BGES Group simplifies the process. Their team of knowledgeable professionals will guide you through the selection process, helping you understand the nuances of each plan and selecting the best fit for your business.

Workers’ compensation is a critical component of your business’s success and the well-being of your employees. Understanding the different types of workers’ compensation programs available – Guaranteed Cost, Payroll/Workers Compensation, Professional Employer Organization (PEO), and State Type Plans – is essential in making the right decision.

BGES Group stands out as a reliable partner for New York, New Jersey, and Connecticut business owners seeking the best workers’ compensation plan. Their commitment to one-stop shopping, representing the best plans, and providing expert guidance ensures that you can focus on what you do best – running your business – while knowing you and your employees are well protected.

So why wait? Reach out to BGES Group today ( for immediate help call Gary Wallach at 914-806-5853 – he is available Monday thru Sunday 6:30am till 10PM) and secure the ideal workers’ compensation plan for your business. With their support, you can rest assured that you’re making a sound and informed decision for the future of your company and your valued employees.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

Workers’ Compensation is shown on the conceptual business photo

Tri-State Contractors – Unhappy with you general liability, umbrella liability or workers’ compensation coverage? BGES Group is partnered with new construction insurance programs and can offer you new options coverage wise and great pricing. Interested contact Gary Wallach at 914-806-5853 or email bgesgroup@gmail.com

Article:

As a contractor, finding new jobs is essential to grow your business and maintain a steady income. One of the most effective ways to achieve this is through a combination of word of mouth referrals and online sources. In this writing, we will explore practical strategies that contractors can employ to maximize their chances of securing new projects in the tri-state areas.

Part 1: Harnessing the Power of Word of Mouth Referrals

1.1 Deliver Outstanding Services:

The foundation of securing new jobs through word of mouth is to consistently deliver exceptional services. Satisfied customers are more likely to recommend your work to their friends, family, and acquaintances, which can lead to a chain reaction of referrals.

1.2 Cultivate Positive Client Relationships:

Building strong relationships with clients is crucial. Take the time to understand their needs, communicate effectively, and address any concerns promptly. A happy client is more inclined to spread the word about your skills and professionalism.

1.3 Request Testimonials:

Ask satisfied clients to provide testimonials or reviews that highlight their positive experiences with your services. Share these testimonials on your website, social media, and other marketing materials to showcase your credibility.

Part 2: Harnessing the Power of Online Sources

2.1 Create a Professional Website:

Having a well-designed website is essential in today’s digital landscape. Make sure it is user-friendly, visually appealing, and contains relevant information about your services, portfolio, and contact details.

2.2 Utilize Social Media:

Engage with your target audience through various social media platforms. Share project updates, before-and-after photos, and customer reviews. Social media can be a powerful tool to increase your visibility and attract potential clients.

2.3 Register on Online Contractor Platforms:

Join reputable online contractor platforms like Blue Book or national websites that connect contractors with potential customers. These platforms allow users to browse contractor profiles and reviews, making it easier for clients to find you.

Part 3: Synergizing Word of Mouth and Online Strategies

3.1 Offer Incentives for Referrals:

Encourage your satisfied clients to refer your services to others by offering incentives such as discounts on future projects or referral bonuses. This will motivate them to actively promote your business.

3.2 Network within the Community:

Attend local events, trade shows, and networking gatherings to connect with potential clients and other professionals in the construction industry. Building personal connections can lead to valuable word-of-mouth referrals.

3.3 Showcase Your Expertise:

Position yourself as an authority in your field by sharing valuable content related to construction, home improvement, and design on your website and social media. This establishes trust with potential clients and boosts your online reputation.

In conclusion, securing new jobs as a contractor in New York and surrounding areas involves a combination of traditional word-of-mouth referrals and leveraging online sources. By delivering outstanding services, building positive client relationships, and actively engaging with the community through social media and online platforms, contractors can establish a strong presence in the market and attract new clients. Remember, the key to success lies in maintaining the highest standards of professionalism, continuously improving your skills, and adapting to the ever-changing digital landscape. With dedication and strategic efforts, contractors in the tri-state area can expand their clientele and thrive in the competitive construction industry.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs! We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health. We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help! We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care. When was the last time you got a complete check up for all your coverage needs?  We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone. If you are interested, go read our “Google Reviews” and see what people have to say about us! That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

As the bustling heart of the construction industry, New York is home to countless contractors, big and small, working on various projects throughout the state. Among the key concerns for these contractors is the need for comprehensive insurance coverage to safeguard their businesses and protect against potential financial losses. In this article, we will delve into the importance of General Liability Insurance and Labor Law Coverage for New York contractors, while highlighting the role of the BGES group, an insurance agency that specializes in catering to the unique needs of contractors.

General Liability Insurance and Its Significance

General Liability Insurance serves as a vital safety net for contractors, offering protection against third-party claims arising from property damage, bodily injury, and personal injury. This coverage is crucial, considering the inherent risks associated with construction projects, where accidents can happen despite the utmost precaution.

Without proper General Liability Insurance, contractors could find themselves financially exposed to lawsuits, medical expenses, and property damage costs, potentially leading to bankruptcy. Therefore, obtaining this insurance is a foundational step for any contractor to establish a secure business framework.

Labor Law Coverage: Understanding Its Necessity

In New York, Labor Law Coverage is of particular importance for contractors. Under New York Labor Law, contractors are held liable for injuries sustained by workers on construction sites, even if the contractor’s negligence is not directly responsible for the accident. This strict liability approach places a significant burden on contractors to ensure the safety of their workers.

Labor Law Coverage comes into play when workers file claims for injuries suffered on the job. Without this coverage, contractors might face severe financial repercussions as they are compelled to pay for medical expenses, lost wages, and potential legal fees out of their own pockets. By securing Labor Law Coverage, contractors can protect themselves from unexpected and substantial financial liabilities.

Examples of Labor Law Type Claims

1. Scaffold Accidents: New York Labor Law Section 240 places the responsibility for providing proper safety equipment, including scaffolding, on contractors. If a worker falls from a scaffold due to inadequate safety measures, the contractor could be held liable for the injuries sustained.

2. Falling Object Accidents: Labor Law Section 241 requires contractors to ensure that construction sites are kept safe and free from hazards. If a worker is struck by a falling object due to negligence in securing materials, the contractor may be liable for the resulting injuries.

3. Ladder Accidents: Labor Law Section 240 also covers ladder-related accidents. If a contractor fails to provide a secure and stable ladder, leading to a worker’s fall and injury, the contractor may be held accountable.

BGES Group: Your Partner in Insurance

Recognizing the complexities of the construction industry and the unique insurance needs of contractors, BGES Group has emerged as a leading insurance agency specializing in providing tailored solutions. With extensive experience and expertise in New York’s construction market, BGES Group understands the risks contractors face daily.

The Hazards of Labor Law Exclusion

Unfortunately, some insurance policies might include a labor law exclusion clause, which can be hazardous to a contractor’s wealth. This exclusion means that the policy will not cover claims arising from labor law violations, leaving the contractor solely responsible for the financial consequences of such claims. As a result, contractors may find themselves vulnerable to devastating losses and legal battles that can threaten the very existence of their businesses.

Impact on Business Relationships

Inadequate liability protection due to a labor law exclusion can have a severe impact on a contractor’s ability to secure projects and maintain fruitful business relationships. Owners of construction projects often prioritize hiring contractors with comprehensive insurance coverage, including Labor Law Coverage, to mitigate their own liabilities.

Contractors lacking this coverage may find themselves excluded from consideration for lucrative projects, as owners fear the potential financial risks associated with inadequate insurance protection. In a highly competitive industry like construction, losing out on projects due to insufficient insurance coverage can significantly hinder a contractor’s growth and success.

Conclusion

For New York contractors, General Liability Insurance and Labor Law Coverage are indispensable shields against financial risks and potential legal battles. BGES Group stands out as a reliable partner, offering specialized insurance solutions to cater to the unique needs of contractors. By understanding the importance of these insurance coverages and the hazards of exclusions, contractors can secure their businesses, build strong relationships with project owners, and thrive in the dynamic construction landscape of New York.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

Construction engineers discussion with designer at construction site or building site of highrise building with blueprints.

In the competitive world of construction, securing bid and performance bonds is crucial for contractors seeking to win projects and instill confidence in their clients. Surety companies play a vital role in this process, evaluating contractors’ financial stability and ability to fulfill their contractual obligations. This writing will delve into the importance of bid and performance bonds for contractors, the financial documents surety companies look for, and how contractors can position themselves for larger lines of credit. Additionally, we will explore how BGES Group can be a valuable partner, offering comprehensive insurance solutions and exceptional service to contractors.

I. Understanding Bid and Performance Bonds

Bid and performance bonds are essential tools in the construction industry, serving as financial guarantees to project owners that contractors will meet their obligations. A bid bond is submitted with a contractor’s proposal, assuring the owner that the contractor will enter into the contract and perform the work if awarded the project. Performance bonds, on the other hand, safeguard the project owner by providing financial protection in case the contractor fails to complete the project or fulfill the contractual requirements.

II. Financial Documents Examined by Surety Companies

Surety companies meticulously assess a contractor’s financial health before issuing bid and performance bonds. Key financial documents they look for include:

1. Financial Statements: Surety companies review the contractor’s balance sheet, income statement, and cash flow statement to evaluate their overall financial stability.

2. Bank Statements: Bank statements reveal the contractor’s cash flow, liquidity, and financial management practices.

3. Credit History: The contractor’s credit history helps determine their creditworthiness and risk profile.

4. Work History: Past project performance and completion records indicate the contractor’s ability to meet contractual obligations successfully.

5. References: Positive references from previous clients and vendors strengthen the contractor’s reputation and reliability.

III. Positioning for Larger Lines of Credit

Contractors can take specific measures to enhance their chances of securing larger lines of credit:

1. Improve Financial Management: Maintaining clean and accurate financial records demonstrates fiscal responsibility and instills confidence in surety companies.

2. Build Strong Relationships: Cultivating long-term relationships with reputable clients, suppliers, and subcontractors enhances credibility in the industry.

3. Invest in Training and Development: Continuous improvement in skills and certifications showcases the contractor’s commitment to excellence.

4. Control Debt and Liabilities: Reducing debt and managing liabilities effectively improves the contractor’s financial standing.

IV. BGES Group: Your Trusted Partner

BGES Group stands out as a trusted partner for contractors, offering a wide range of insurance solutions tailored to their specific needs. With a network of 50 companies, BGES Group provides contractors access to:

1. Builders Risk Insurance: Protects construction projects from various risks, including damage to buildings and materials.

2. General Liability Insurance: Covers third-party claims for bodily injury, property damage, and advertising injuries.

3. Umbrella Liability Insurance: Provides an extra layer of liability coverage that extends beyond primary policies.

4. Business Auto Insurance: Protects company-owned vehicles used for business purposes.

5. Workers’ Compensation Insurance: Ensures coverage for workplace injuries and medical expenses for employees.

6. NYS Disability and Group Health Coverage: Comprehensive insurance options for disability and health benefits.

V. Unparalleled Service and Responsiveness

BGES Group takes pride in its excellent service and responsiveness to contractors’ needs. Their team of dedicated professionals works closely with contractors to understand their unique challenges and provide tailored solutions. Whether it’s assisting with bond applications or offering timely insurance advice, BGES Group is committed to supporting contractors every step of the way.

In the competitive construction industry, bid and performance bonds are vital for contractors looking to secure projects and build trust with clients. Surety companies carefully scrutinize financial documents to assess a contractor’s ability to meet contractual obligations. To position themselves for larger lines of credit, contractors must focus on financial management, relationships, skill development, and liability control.

BGES Group stands as an invaluable partner for contractors, offering a comprehensive suite of insurance solutions and unparalleled service. With their extensive network of 50 companies, BGES Group ensures contractors have access to the insurance coverage they need, including builders risk, general liability, umbrella liability, business auto, workers’ compensation, NYS disability, and group health coverages. Contractors can rely on BGES Group’s expertise and responsiveness to navigate the complexities of the construction industry with confidence.

In a bid to address the prevailing challenges faced by contractors and companies in the transportation industry, BGES Group, a renowned insurance organization, has launched innovative workers compensation programs. These programs are specifically designed to tackle issues such as high rates, high-risk contractors, exorbitant policy and service fees, poor loss experience, and high experience modification factors. With its dedication to delivering top-notch services and comprehensive solutions, BGES Group is poised to transform the insurance landscape for contractors and businesses in the transportation sector. This writing explores the key problems in the industry and how BGES Group’s new workers compensation programs offer a promising and rewarding solution for contractors and transportation companies.

1. High Rates and Cost-Burdened Contractors

One of the most pressing concerns for contractors and transportation business owners is the burden of high insurance rates. These elevated premiums can cripple businesses, impacting their competitiveness and profit margins. However, BGES Group’s workers compensation programs have been carefully tailored to ensure that contractors and transportation companies receive coverage at fair and reasonable rates, easing the financial strain on their enterprises.

2. High-Risk Contractors and Mitigation Strategies

Contractors and transportation companies often operate in high-risk environments, leading to increased susceptibility to workplace accidents and injuries. BGES Group recognizes this challenge and has developed comprehensive risk management strategies. Through stringent safety protocols and customized coverage plans, the company aims to help employers minimize risk and prevent accidents, thereby reducing the likelihood of costly workers compensation claims.

3. Eliminating Ridiculous Policy and Service Fees

Many business owners have been troubled by insurance providers imposing excessive policy and service fees. These fees can add up significantly, leading to frustration and dissatisfaction among clients. However, BGES Group is committed to transparency and fair pricing. Their new programs strive to eliminate unnecessary fees, allowing clients to benefit from cost-effective insurance solutions.

4. Enhancing Loss Experience and Claims Management

Poor loss experience can have detrimental effects on a company’s insurance premiums. Frequent claims or mishandling of incidents can lead to skyrocketing costs, making it challenging for businesses to maintain adequate coverage. BGES Group’s workers compensation programs focus on strengthening claims management and loss prevention measures, helping employers improve their loss experience over time.

5, Tackling High Experience Modification Factors

Experience Modification Factors (EMF) play a crucial role in determining insurance premiums. High EMFs can arise due to past claims and incidents, adversely impacting a company’s financial stability. BGES Group’s programs are designed to assist business owners in understanding and reducing their EMFs through proactive risk management and safety protocols, ultimately leading to lower insurance costs.

6. Empowering New Ventures in the Construction & Transportation Sectors

Starting a new venture in the construction and transportation industries can be a daunting task, especially when it comes to securing appropriate insurance coverage. BGES Group’s workers compensation programs offer tailored solutions for new businesses, providing them with the confidence and support needed to navigate the insurance landscape successfully.

7. The Importance of Insurance Company Ratings

BGES Group prides itself on being an “a-rated” insurance company. This means that the company has been assessed and rated favorably by independent rating agencies, indicating its financial stability and ability to meet policyholder obligations. Choosing an “a-rated” insurance provider like BGES Group ensures that contractors and transportation companies can trust in the company’s ability to fulfill its promises and provide reliable coverage.

BGES Group’s new workers compensation programs for contractors and companies in the transportation industry represent a groundbreaking solution to long-standing challenges. With a focus on fair pricing, risk mitigation, claims management, and tailored coverage, these programs offer an unmatched opportunity for businesses to secure reliable and cost-effective insurance. For new ventures, BGES Group provides the necessary support and guidance to establish a strong foundation in the industry. By embracing these innovative programs, employers have nothing to lose and everything to gain – a brighter, safer, and more prosperous future. To experience the transformative benefits firsthand, it is highly recommended to request a quote from BGES Group today.

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 are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

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 – 2023 – BGES Group

Workers Compensation Insurance for The Transportation Industry

Workers Compensation for New York Contractors

Workers Compensation is shown on a business photo using the text

When you hire contractors, electricians or other home repair specialists, you may shop around on price and go with the least expensive one.

But if a contractor comes in with a bid that is much lower than the competition, it could mean they are cutting corners – and one of the top ways for them to do this is in the insurance they carry, or are supposed to carry.

Consider these scenarios:

• An electrician’s faulty work starts a fire that guts your kitchen and dining room.

• A contractor’s worker breaks a leg while working on your home.

If either of these events occurs and the contractor doesn’t have insurance, you’ll be on the hook for the damages.

Even if a contractor tells you they are insured and bonded, you need to verify that it’s true. After all, they could be stretching the truth by just having their vehicle insured, and they could be bonded for another project they have worked on in the past.

While your homeowner’s policy provides some liability coverage, it may not cover all the costs in an especially costly event.

The first thing you should do when hiring a contractor is to ask to see their certificate of insurance. If they don’t have it, they can call their insurance agent and ask them to send it to you. A certificate doesn’t provide all the insurance details, but it’s a good start.

However, if you are having major work done on your home, you need to delve further. You should look for the following:

Coverages on certificate of liability insurance

Current dates – Check to see that the coverage is current. If it’s past the policy expiration date, then it doesn’t tell you if they currently have insurance.

General liability coverage – The contractor should have this insurance, which covers bodily injury to you or third parties and property damage arising out of their operations. Check also to see if their coverage includes “products and completed operations,” which covers damages that may arise out of their finished work. If this is not included, then the contractor’s liability ends when they finish the job.

Workers’ compensation – This coverage is mandatory for all employers, except under very rare circumstances. It covers medical expenses and lost wages if an employee is injured on the job. If the contractor doesn’t have this coverage, you could be on the hook for these costs.

Sometimes small contractors will tell you that they don’t need to have it, but that is typically true only if they have no employees and it’s a sole proprietorship.

Other coverages to look for

Builder’s risk – If you are building a new home or adding onto your home, this provides protection for the new construction and building materials while it is being built.

While most contractors will buy this coverage, some of them will ask the homeowner to do so. Make sure you are clear who should buy this coverage and, if it is the contractor, make sure you ask for proof that it’s been purchased.

Fidelity bonds – The most common type of bond you could encounter provides protection if a contractor’s workers steal from you. While better than nothing, actually getting paid from these bonds can be somewhat difficult.

It’s probably a better bet to lock up or remove your valuables when contractors are working in your home. Although you have hopefully picked a contractor you trust, he or she is probably not going to be the only one that enters the job site.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

Hiring a contractor to do work in your home

Hiring a contractor.  What types of insurance should you look for?

Contractor Standing In Front Custom Kitchen Construction Framing Gradating Into Finished Build.

For New York contractors, securing a comprehensive General Liability (GL) policy is crucial to protect against potential liabilities and unforeseen risks on construction projects. One of the essential decisions contractors must make when obtaining insurance is choosing the appropriate rating structure for their policy. Two common methods include basing the cost on gross receipts or on payroll and subcontracted costs. We will explore the pros and cons of each approach and shed light on the role of BGES Group in guiding contractors to make the right choice.

The Significance of Rating Structure:

The rating structure defines how the cost of the General Liability policy is calculated. Contractors can opt for either gross receipts or payroll and subcontracted costs as the basis for determining their premium. Each method has unique implications for the contractor’s financials and level of coverage.

1. Gross Receipts as the Rating Basis:

Basing the GL policy cost on gross receipts means that the premium is calculated using the total revenue generated by the contractor’s business. This method is straightforward and easy to implement. However, it might not always provide an accurate representation of the contractor’s risk exposure.

The Impact of Increasing Construction Material Costs:

One significant concern with the gross receipts method is how it can lead to a policy cost that is “out of whack” when construction material costs increase during the policy period. As material prices fluctuate, the cost of projects may rise, potentially distorting the premium calculations and leading to inadequate coverage. In such cases, contractors might find themselves underinsured and facing financial hardships in the event of a claim.

2. Payroll and Subcontracted Costs as the Rating Basis:

Using payroll and subcontracted costs as the basis for rating the GL policy offers a more accurate reflection of a contractor’s exposure to risks. This method takes into account the labor costs and expenses associated with hiring subcontractors, providing a more realistic assessment of the potential liabilities.

The Role of BGES Group:

Recognizing the complexity of insurance decisions for New York contractors, BGES Group offers invaluable assistance in selecting the right rating structure. With their expertise in the construction industry and insurance landscape, they can guide contractors to make informed choices that align with their unique business needs.

Special Contractor Liability Programs:

BGES Group not only helps contractors choose the appropriate rating structure but also offers specialized contractor liability programs. These tailor-made programs cater to the specific risks and challenges faced by contractors, ensuring that they receive the most suitable coverage at competitive rates.

Leveraging a Vast Network of Insurance Companies:

Another advantage of partnering with BGES Group is their extensive network of 50+ insurance companies. This broad reach allows them to market contractors’ accounts to multiple insurers, increasing the likelihood of finding the most competitive and comprehensive policy.

Assistance in Policy Adjustment:

If a contractor finds that their current policy rating basis is not the best fit for their evolving business, BGES Group can step in to help make necessary changes. Adjusting the rating structure mid-term or at renewal ensures that the contractor remains adequately covered while adapting to industry dynamics.

Selecting the right rating structure for a General Liability policy is a critical decision that can significantly impact a New York contractor’s financial security and risk management. While gross receipts offer simplicity, it may lead to drastic cost increases during periods of rising construction material costs. Alternatively, basing the policy cost on payroll and subcontracted costs provides a more accurate representation of the contractor’s risk exposure. To navigate these choices and secure the best coverage, contractors can rely on the expertise and support of BGES Group, which not only assists in choosing the right rating structure but also offers specialized liability programs and access to a vast network of insurance companies. By partnering with BGES Group, New York contractors can safeguard their businesses and projects with confidence.

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, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

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 – 2023 – BGES Group

contractor liability policy – New York

contractor liability insurance – New York

Contractors Liability – Gross receipts or payroll/subcontractor costs

A construction site crane flying a United States Flag with a clear blue sky on a bright sunny day