Harry and Sally live in Arizona. He’s 56 years old, she’s 58. They’ve been married 27 years, and now they’re calling it quits. In addition to the emotional pain, divorce means dividing up assets accumulated over the life of the marriage.

People naturally focus on houses, cars, retirement savings and other obvious assets when deciding who gets what. Less obvious but just as important — life insurance.

Older couples are splitting up at a faster rate than they used to. According to the Pew Research Center, divorce rates for couples in their 50s have doubled in the last 30 years. For those over age 65, the rate has tripled.

These are often couples who have amassed some wealth over time, and they are likely to have life insurance:

• It might be term policies purchased when their children were young because of the low premiums.
• It might be small amounts of insurance provided by their employers.
• It could be whole life or universal life policies purchased decades before as investment vehicles for college savings.

All of these policies represent potentially valuable assets to be divided up in the divorce settlement.

Life settlement brokers

Couples in the process of divorce should consult with a life settlement broker to help determine the market value of their life insurance policies.

A life settlement is the sale of an existing life insurance policy to a third party (someone other than the spouses) in exchange for a one-time cash payment. The third party receives the policy’s face value amount upon the death of the insured person. A life settlement broker can help estimate the price a third party might pay for a policy.

Life settlement brokers must be licensed by the insurance regulators in the states in which they operate. Check with the insurance department in your state if you need help locating a licensed broker.

Once the policy values have been established, there are several options, including:

• Let the policy lapse to save the cost of premiums.
• Leave the policy in force, with one spouse paying the premiums and the other remaining as beneficiary.
• Convert a term policy to a whole life policy, leave the beneficiary unchanged and have one spouse responsible for paying premiums.
• Convert a term policy to a whole life policy, sell that policy in a life settlement and split the proceeds.
• Use the proceeds from the sale of the policy to purchase new life insurance, an annuity, a long-term care insurance policy, or to invest in income-generating vehicles such as bonds or stock in utility companies.
• Invest the proceeds to fund grandchildren’s college educations, pay for weddings, help with down payments on first homes, or other personal use.
• Use the proceeds to cover uninsured costs from medical problems.

The takeaway

A divorce is never a happy occasion, and it is inevitably stressful for all involved. While older couples likely do not have to deal with child custody issues, they do have to equitably divide their assets, including their life insurance policies.

Working with a life settlement broker or professional life insurance agent can make that part of the division a little easier and help reassure both spouses that they are receiving fair settlements.

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

When a Marriage Fails, What Happens to the Couple’s Life Insurance?

Selective focus of magnifying glass,glasses and Insurance Policy letter on a white wooden background.

When you apply for life insurance, or open a retirement account, you’ll be asked to name beneficiaries. This is an important step in financial planning.

Failure to name beneficiaries can be a costly mistake, and one that can cause your loved ones a great deal of hardship after you’re gone.

What’s a named beneficiary?

A named beneficiary is the party who gets the life insurance death benefit, and/or the proceeds from an annuity or other financial account when you pass away. Generally, these should be individuals that you identify by name.

Why are beneficiaries important?

It’s crucial to list your beneficiaries by name, so that the money can go to these loved ones right away after you are gone.

If you fail to name a beneficiary, then that money will usually go into your estate. That means it will go through probate – an expensive process that can potentially take months or even years to complete.

When you don’t name a beneficiary, everything in that account goes to your estate, and to probate first, rather than to your heirs. Your family and loved ones will only get what’s left, after months of waiting.

Contingent beneficiaries

There are two kinds of beneficiaries – primary and contingent. A contingent beneficiary is the individual or entity who receives the money in the event that the primary named beneficiary cannot.

Naming a contingent beneficiary is important because it helps protect your family against the unexpected.

For example: What if you and your primary beneficiary were to die in the same car crash? If you have no contingent beneficiary, the assets would fall back into your estate. Your surviving children or grandchildren would not be able to inherit the money until after a lengthy probate process.

Accidental disinheritance

Suppose you had an estranged child, but also a loving and devoted stepchild who was very much a part of your life to the end? Unless you take steps to name the stepchild as a contingent beneficiary on your financial accounts, or provide for your stepchild by name in your will, the probate attorneys must divide your assets according to your state’s “intestate laws.”

These laws are a set of defaults that govern who will receive your assets in the event you die without a will. They don’t account for unadopted stepchildren.

Note: Beneficiary listings trump wills. If you have one person listed to receive your IRA assets or your life insurance proceeds in your will, and a different person listed as a beneficiary, the beneficiary listing will take precedence.

What to do now

It’s a good idea to physically look at all your financial accounts every year, and update both primary and contingent beneficiary listings. If you can answer “yes” to any of the following questions, you may need to update your accounts:

• Have you married or divorced in the last year?

• Does a divorce decree or property settlement agreement specify you have to name anyone in particular as a life insurance beneficiary?

• Have there been any deaths among your current beneficiaries?

• Do you have any stepchildren who need to be added?

• Do amounts need to be adjusted?

• Do you have children from a prior marriage? Do you want to keep them as beneficiaries?

• Have any new children or grandchildren been born? If so, what share should they receive?

• Are your current beneficiaries competent to receive the assets directly? Or should the assets go to a trustee or guardian?

A periodic review of all your beneficiary designations is an important step in the financial planning process. Don’t wait until it’s too late. Call us 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, 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

LIFE INSURANCE text written in a notepad near a cup coffee, eyeglasses and pen on a wooden background. Business concept. Flat lay

Your workers’ underlying health can greatly affect the amount of time they are off the job recovering from a workplace injury.

Employees with pre-existing health issues like hypertension, obesity and mental health spend 60% more time recovering from workplace injuries than healthy workers, according to a study by Newport Beach, CA-based Harbor Health Systems.

These underlying health issues affect the cost of claims, increase temporary total disability (TTD) days, recidivism (aggravating of the original injury), and lead to more litigation and surgery, according to the industrial injury clinic’s analysis of 7,000 injured worker cases it handled.

The longer it takes for a worker to recover and return to work, the more expensive the claim becomes, which can affect the employer’s future workers’ comp premiums.

The findings illustrate the importance of trying to keep your employees healthy through wellness programs and access to health insurance to control their conditions.

The study looked at seven comorbidities:

• Obesity

• Diabetes

• Hypertension

• Addiction

• Mental health

• Tobacco use, and

• Multiple comorbidities (more than one of the above)

Shocking outcomes

The two comorbidities that have the greatest impact are multiple comorbidities and obesity, followed by addiction, mental health and hypertension, with diabetes and tobacco having the lowest impact.

Relationships between comorbidities — such as the link between obesity and diabetes – can exacerbate complications and health risks. The age of the injured worker is another factor that is associated with comorbidities and can complicate the management of a claim.

Duration and cost

• For claims involving multiple comorbidities, claim duration increased by 76%.

• For claims involving addiction, duration increased 67%.

• For claims involving obese individuals, duration increased 55%.

• For claims with multiple comorbidities, total incurred costs rose by 341%.

• Claims in all the comorbidity groups had significantly higher TTD days compared to the control group.

• TTD days increased by 285% for multiple comorbidities claims, and 274% for addiction-related claims.

Litigation

• Litigation rates for claims with multiple comorbidities are 147% higher compared to claims with no comorbidities.

• Litigation rates for claims of injured workers with an addiction are 224% higher.

• Litigation rates for claims of injured workers with mental health issues are 248% higher.

The takeaway

You can encourage your employees to improve their health through company wellness plans and ensure that they have access to health insurance to treat their medical issues.

Claims management experts say that insurance company adjusters need to intervene early in cases for injured workers with these comorbidities.

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 a business photo using the text

OSHA encourages employers to investigate all accidents in which a worker was hurt, as well as close calls — sometimes called “near misses” — in which an individual might have been injured if the circumstances had been slightly different.

The agency suggests using the term “incident investigation,” since nearly all accidents are preventable.

Reasons to investigate

Investigating a worksite incident — whether a fatality, injury, illness or close call — provides employers and workers the opportunity to identify hazards in their operation and shortcomings in their safety and health programs.

Most importantly, it enables employers and employees to identify and implement the corrective actions necessary to prevent future incidents.

Incident investigations that focus on identifying and correcting root causes, and not on finding fault or blame, also improve workplace morale and increase productivity.

The purpose of the investigation is to:

• Establish the facts,

• Find the real causes(s),

• Determine responsibility for the accident,

• Gather sufficient evidence, and

• Support a strong liability defense.

Such investigations should include managers and employees working together, since each bring different knowledge, understanding and perspectives to the investigation.

Following an incident, you should:

• Gather all pertinent information through interviews.

• Collect the necessary forms and documents to prove your company has met its legal, safety and insurance requirements.

• Identify, fix and communicate all known potential hazards to your employees.

• Be sure you don’t overlook any documents, evidence or details that can add to the company’s liability defense.

Failure to investigate

Without conducting an incident investigation to discover what happened and why, proving you’ve met your obligation is an uphill battle, and one that could hurt your company in several ways, including:

• Higher costs, fines, legal fees, damages, medical fees and insurance premiums.

• Poor public relations in your local community that the company is not caring for employees, making it difficult to hire and retain workers.

• A strain on operations, by having to hire and train new workers.

You have an obligation to report any serious incidents to OSHA within eight hours for a fatality, and 24 hours for a severe injury. Remind supervisors and managers to choose their words carefully when speaking to OSHA or inspectors and investigators.

For more information on accident/incident investigations, give us a call.

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

Builder injury accident falling scaffolding to the floor. Basic first aid training for support accident in site work, Safety team help employee accident.

 We Can Offer You:

• One of our Workers’ Compensation programs are designed for the logistics industry (our programs are NOT state plans)

• They offer long-term coverage stability (one of our programs has been providing coverage for 29 years)

• We can cover local and long haul truckers and most other companies providing transportation services

• We also have special programs for: auto service, contractors, limousine services, manufacturers and recyclers

• Great rates

• Coverage when operating in multiple states

• Simplified audits (you may not have to go through an audit every year)

• Proper classification of payrolls

• Having bad luck with losses?  We can probably get you coverage

• Payments based on past months payrolls so you don’t overpay for coverage

• Incredible service – No waiting on hold when you call.  Immediate response to emails and texts

• You will deal with the same person every time you call who is always helpful and never makes you wait.

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 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, Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help any tri-state employer.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, they offer long-term coverage stability and can cover multi-state operations.

We know reading an article 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 Insurance for Truckers

Workers Compensation for the Logistics Services

Workers’ compensation insurance can be a large cost center for a business, and if your employees are regularly injured on the job those costs can quickly become a financial burden, even in this period of low rates.

Companies in industries with high rates of workplace injuries are especially vulnerable, particularly if an employee suffers permanently disabling injuries, or worse. But even a relatively safe business can see its premiums surge if it has a few costly claims.

Fortunately, employers can take steps to get a better handle on their workers’ compensation costs.

While the steps look easy on paper, they require management buy-in, a focus on preventing injuries and getting injured workers healed and back on the job. Here are three things that employers can do to better control their workers’ comp costs.

1. Focus on accident prevention

To reduce the possibility of workplace incidents focus on the basics of a sound safety strategyl:

• Keep workspaces clean and free from clutter. Slips and falls can happen in an office, a factory or warehouse floor, a store or a construction site. Post warnings of slippery surfaces and immediately clean up spills. Ensure your floors are clear of power cords and computer cables. Don’t obstruct walkways and keep all work areas free from tripping hazards.

• Keep equipment in good condition. This is especially important on construction sites, where injuries can be particularly severe. Ladders, tools, power equipment and other materials should be maintained, in order to minimize the risk of injury.

• Provide appropriate protective equipment. This varies depending on the workplace. Workers should wear gloves and hard hats on construction sites, burn protection and slip-resistant shoes in restaurants, masks and gloves in medical offices, and so on.

• Train workers on safety. Make sure they know how to safely perform their tasks. Do this during new employee orientation and hold regular safety training or tailgate meetings. The more hazardous the work environment, the more frequent training you’ll need to provide. All workplaces where frequent injuries are occurring should also have them.

• Create a safety culture. Model safe work practices and let employees know they are expected to do likewise. Recognize and reward safe practices, but don’t discourage or retaliate against employees if they file a claim.

2. Limit claims costs

Ensure that the injured employee gets prompt medical attention. Be proactive and stay in contact with your worker and your carrier throughout the duration of the claim. Also, be sure to complete all required documentation in a timely manner to avoid unnecessary delays in the claims process.

Ask for second opinions on expensive surgeries or treatments. Have in place a return-to-work program to allow injured employees to work in lighter-duty roles until they are healthy enough to resume regular work.

3. Keep detailed employee records

Documentation is extremely important in workers’ compensation, the costs of which are based the number of employees, how much each of them are paid and what kind of work each worker performs.

You’ll need to keep detailed and accurate payroll records to back up the numbers you submit to your insurance company. If you don’t, they’ll find them through the regular audits they conduct and if you underreported, they’ll ask for additional premium.

Example: Suppose a business has 10 employees, with eight of them doing hazardous work and two of them administrative employees. Without records segregating the payroll of the clerical workers from the others, the insurer will assign the high-hazard classification to all 10 employees, forcing the business to pay more than necessary.

The takeaway

Workers’ compensation ensures that injured employees have a reliable and speedy source of funds to replace lost income, and that the medical expenses for their industrial injury or illness are covered.

Employers who don’t keep safe workplaces, are not engaged in their workers’ claims and keep sloppy records, end up paying more for coverage. Those that do the opposite, don’t.

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

Man labor worker had accident on the floor at the production line of CNC machine factory. Engineer man walk to that area and support him on injured. Safety in industrial factory. Injury at work”n”n

Our Office Offers:

1. The BEST Commercial General Liability policies for New York contractors (we cover the tri-state area).  Let us shop your coverage with our network of up to 50 companies.  We can help you get better coverage and/or lower rates.  Get a FREE second opinion on what you have too!

2. The BEST Commercial Umbrella Liability policies for New York contractors (we cover the tri-state area).  We have some new companies who can offer you better coverage at a lower premium.  Get a quote today!

3. Expert advice – We have been insuring contractors for 44 years and have a few hundred contractors as clients.  We have an excellent pulse on the market place, leverage when it comes to pricing and can help you with obtaining builders risk, bonds, workers’ compensation, whatever coverage you need!

4. Boutique Service – When you deal with us you speak with one person who has 44 years experience, answers their phone, responds to your texts or emails in minutes, gets you certificates in minutes, has answers your questions, knows how to treat people, is not a “PrimaDonna,” has integrity and is a pleasure to work with.  Tired of waiting on hold, waiting for return calls, sick of being gouged by exorbitant policy and service fees?  We provide FIRST CLASS service at very competitive pricing.

5. Contract Review – We can help you review the insurance sections of contracts you are bidding on to make sure you are in compliance with their requirements.

6. Subcontractor Insurance Reviews – We can help you screen subcontractor insurance policies to make sure you are properly protected.

7. Workers’ Compensation – Unhappy with your company, in the middle of an audit dispute, being cancelled, poor loss experience causing difficulty getting coverage, high experience modification, unhappy with the policy or service fees your agent is charging?  We offer all types of programs and represent some of the best companies in the nation!  If you are not happy with your situation give us a call today!

8. Workers’ Compensation Premium Recovery – Get Back Up to $500,000 from Your Past Worker’s Compensation Companies!  This IS NOT a Gimmick!  We Just Got a Refund for a New Jersey Employer of $20,000…Be Next!  Many New York and New Jersey Employers have overpaid to their Workers’ Compensation companies insurance premiums due to incorrectly used classifications, payroll audits, calculated experience ratings, misapplied discounts, and errors in experience rating modification factors, often without fault of the insurance carrier or the insurance broker. If there were errors, the businesses are then entitled to and will receive a refund, but only if the errors are identified and the recovery is applied for.  We can perform this service for you.

9. 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.

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 construction industry booms, contractors face evolving risks that, left unchecked, can leave their operation exposed to new liabilities.

If you already operate a construction firm, you know that there is a labor shortage that has made it difficult to find experienced workers, and that hiring entities are asking builders to take on more of the design function, as well.

Your liability picture has also likely changed with the increasing use of wrap-ups and, if you’re using technology in your operation, you now have rising cyber-security risks, too.

Lack of qualified workers

The bottom fell out of the construction industry in the U.S. during the first few months of the COVID-19 pandemic, and many worksites were idled. Now that the industry has found its footing, it’s been dealing with a severe labor shortage.

As construction firms struggle to find workers, the ones who are on the job are having to take on larger workloads, which can put them at risk of injury or making mistakes.

Also, many contractors are having to take on younger, less-seasoned laborers, who may lack the experience to identify and avoid hazards, which puts them and others at risk of injury.

Those injuries in turn affect your workers’ comp premiums.

A lack of workers coupled with inexperienced new ones on sites, can also end up drawing out projects, forcing contractors to miss deadlines.

Professional liability risks

As more project owners want an all-in-one job with the lead contractor designing and building the project, contractors now face a new type of risk: professional liability.

But the typical contractor’s insurance policy doesn’t provide protection for any design work you take on. Courts have ruled that:

• Designers who perform “builder activities” lose limitation of liability typically enjoyed by design professionals.

• Builders who perform “design activities” assume responsibility for design deficiencies.

Wrap-ups more prevalent

Many construction projects are now covered under one general liability policy to cover the work of the general contractor, as well as of all the subs. More lenders are requiring that liability is set up in one all-encompassing policy.

A properly assembled general liability wrap-up should provide coverage not only during the construction period, but also up to 10 years after the work is completed.

These policies often reduce the cost of coverage.

More cyber-security risks

Like all industries, the construction sector has grown increasingly reliant on technology to get the job done. That exposes contractors to a variety of cyber risks, including keeping project designs, client records and employee records confidential.

Many building contracts today include clauses requiring the contractor to be responsible for potential cyber breaches.

Given the increasing popularity of practices such as “building information modeling,” “integrated project delivery,” and file-sharing between participants in a construction project, contractors may be at increased risk of liability in the event of a data breach.

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

The engineer talks to the contractor to supervise and plan the work.

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

Workers Compensation in the Ancient World

Almost as long as workers have been getting injured on the job, we have had some formal or informal system of compensating workers for workplace injuries. Workers compensation claims management and processing is, if not the oldest profession in the world, at least pretty close! The earliest recorded formal and legally-mandated workers compensation scheme in the world dates back to at least the year 2050 B.C., in ancient Sumeria, in what is now Iraq. Stone tablets recovered from the city of Ur – about 9 miles from Nasiriyah – established a set system of payments to injured workers, itemized by injury.

The Code of Hammurabi later adopted the practice, as did the Greeks, Babylonians, Romans, Arabs and even the Chinese.

Into the Modern Age

The Prussians, under Otto von Bismarck, were the first modern nation-states to adopt a formal workers’ compensation system following the Industrial Revolution, with the Accident Insurance Bill of 1884. Originally conceived as a measure to prevent Marxist political movements from making inroads into the Prussian/German working classes, the Bismarck program actually contained two important innovations that are at the heart of the American workers compensation system today: First, claims were separated from the tort system, so that workers seeking remedy under workers compensation rule could not sue their employers for damages in the courts. Second, claims were processed under an early version of today’s “no fault” provisions. Claims could be paid promptly, because there was no need for a magistrate to assign fault or blame through a detailed fact-finding.

The system worked so well, and was so popular, that the largely German-American population of Wisconsin, in 1911, enacted the first workers compensation insurance program in the United States – modeled closely after the Prussian system.

Development in the U.S.

While the U.S. lagged a few years behind the United Kingdom in adopting workers compensation plans, there was a very limited program created for workers who were directly involved in projects involving interstate commerce, such as railway workers, established in 1908. It was limited only to this population because the sentiment at that time was that programs like workers compensation to everyone else was properly left to the states.

At the grassroots level, however, there was a growing public awareness of the hazards of industrial age employment thanks to populist, muckraking writers such as Upton Sinclair, who highlighted the plight of slaughterhouse workers in his novel, The Jungle. This awareness of the hazards of modern industrial employment in the unforgiving factories, plants led to a number of failed attempts to pass legislation in the state assemblies, early on – first in New York (1898), then Maryland (1902),  Massachusetts (1908) and Montana (1909).

The “Great Tradeoff”

Ultimately, the first state to successfully enact a broad workers compensation was the largely German-American population of Wisconsin – then very much the heart of the American Progressivist movement. Their program was modeled closely after the Prussian system, though only after a long debate between business and labor interests. In the end, they came up with the same “great tradeoff,” in the parlance of the time, that was at the heart of the Bismarckian model: Employers agreed to provide substantial wage replacement for injured workers through an insurance system, without any fault-finding requirement that would cause devastating delays in payouts to workers who depended on their wages to survive. In return, labor interests agreed to give up the right to sue their employers for covered claims. This allowed employers relief from the risk of outsized claims and judgments.

Once Wisconsin broke the seal though, other states quickly followed suit: 11 more states passed plans of their own that year, four more in 1912, and eight more in 1913. By 1935, some 45 of the 48 states then existing had passed workers compensation laws of their own, and By 1948, a similar program had been established in all 48 states in existence at that time, as well as the future states of Alaska and Hawaii.

Today, all 50 states have enacted similar legislation, including these provisions:

•  A no-fault approach to claims processing – workers don’t have to demonstrate that their employer was negligent for benefits to be paid.

• Employers are protected from lawsuits (a tort exemption) over workers compensation issues.

• Employers fund workers compensation benefits by paying premiums, which vary depending the state and the occupation of the covered worker.

Additionally, 45 of the 50 states delegate responsibility for claims administration to special boards. Five states – Wyoming, Tennessee, New Mexico, Alabama and Louisiana, keep the process within the judiciary, though in each case a state agency exists to help with administration and prompt disbursement of funds to injured workers.

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

bandaged paper man under Workers Compensation umbrella with Workplace Injury note below

Workers’ compensation insurers are grappling with covering claims for workplace COVID-19 infections that develop into long COVID, as those claims may stay open for years in some cases.

For companies in states that adopted laws requiring workers’ comp insurers to cover claims for employees who contracted COVID-19 in the workplace, a long-COVID claim can become costly, particularly if it results in permanent disability benefits, which may be paid out for life.

Workers’ compensation claims that include treatment for long-COVID symptoms were four times more likely to result in permanent disability benefits than other COVID-19 claims, according to a report by the Workers’ Compensation Insurance Rating Bureau of California. While this data was for California only, statistically, workers in other states likely have had similar outcomes.

Long-COVID claims will linger for years, but they constitute a small percentage of overall COVID-19 claims. According to the Rating Bureau, in 2020 and 2021:

• 91% of COVID-19 workers’ comp claims involved a mild initial infection that did not require hospitalization,

• 7% required hospitalization, and

• 2% were death claims.

Of those claims, 13% developed into long COVID.

The biggest issue with long COVID is that it can spur other health problems and can worsen pre-existing conditions. And if a COVID-19 infection was initially covered by workers’ comp, so are issues that develop as a result of that infection.

Long-COVID claims can be expensive:

• For long-COVID claims with permanent disability, the average medical cost 18 months after policy inception was $154,500, compared to $59,800 for other COVID-19 claims without long-COVID symptoms.

• For long-COVID claims with temporary disability, the average medical cost was $37,300, 500% more than for other COVID-19 claims.

• Even long-COVID medical-only claims (no time off work) resulted in $7,100 in medical costs, compared to $1,400 for other COVID-19 claims.

The report also found that the risks of long COVID are higher in female workers, workers over 50 years of age and workers who have comorbidities.

Long-COVID symptoms

The biggest challenge with these claims is that there is no way to diagnose long covid, which affects every person differently. People who have pre-existing health problems have a higher chance of developing long COVID, and those problems can exacerbate the symptoms.

Researchers have documented more than 200 symptoms, with varying severity and duration. However, the <i>Journal of the American Medical Association</i> recently published a paper listing the 12 most common symptoms associated with long COVID:

• Worsening of health after mental or physical activity

• Fatigue

• Brain fog

• Dizziness

• Gastrointestinal symptoms

• Heart palpitations

• Changes in sexual desire or capacity

• Loss of or change in smell or taste

• Thirst

• Chronic cough

• Chest pain

• Abnormal movements.

Complications for employers

Long-COVID claims may become more complex, since individuals with long-term complications have a new burden of proof to show that their lingering symptoms are directly associated with their original COVID-19 claims.

If you have workers with ongoing COVID-19 claims, it’s advised you treat them with empathy and respect.

Employers who have workers with long COVID must also contend with new guidance by the Equal Employment Opportunity Commission that long COVID may be considered a disability under the Americans with Disabilities Act.

That means employers who have a worker with long COVID may be required to enter into an interactive process if they ask for accommodations.

Reasonable accommodations can include:

• Job restructuring,

• Modified work schedules,

• Reassignment to open positions,

• Allotting extra time for work preparation and assignments,

• Providing extended work breaks, and

• Providing apps or software to help with organization and focus.

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

Insurance concept, Businessman holding red umbrella on falling rain with protect with icon business, health, financial, life, family, accident and logistics insurance on city background