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 (we cover the tri-state area) 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 there and will 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, 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.
BGES Group offers 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!
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.
A work-related vehicle accident will cost an employer an average of at least $16,500, according to OSHA.
If injuries are involved, that figure can quadruple. If there’s a fatality, you could be looking at costs exceeding half a million dollars. Not to mention the suffering and broken lives that kind of event leaves in its wake.
To ensure your employees are safe at all times, and are also protecting the public, you need to have in place:
A proper maintenance program for company vehicles, and
A safe driving program.
Your employees play a key role in the success of both programs.
If you have workers who drive as part of their job, your commitment to workplace safety extends to the vehicles they drive.
Driver engagement
Since your workers are the ones driving your fleet vehicles, they also serve as the eyes and ears to any problems you might not be aware of.
Just like rental car companies do, you can have a check-off sheet that workers use when taking out and returning a vehicle. They can report any damage that occurs and if the vehicle is making a strange sound or running rough.
Employees should also be up front about any accidents or near misses that occur while using a company vehicle.
Staying safe on the road
Clearly state your expectations and qualifications for using a company vehicle.
Also, make sure your drivers know the repercussions for misuse. After all, employees represent your company when they travel on business.
You should train them to:
Follow all applicable traffic laws, including those relating to speed and phone use while driving.
Know what to do when they are involved in an accident, regardless of who is at fault.
Know how to contact roadside assistance if necessary.
Make sure the vehicle is turned off, locked and keys removed when leaving it unattended.
Also, remind your driving employees that you won’t compromise on rules or policies within your safe driving program. This way, drivers know that you’re very serious about their safety.
Fleet safety meetings
First and foremost, cover your procedures for inspecting a vehicle and how to report any trouble.
If you hold the meeting in the fleet parking area, you can show your drivers exactly how you want them to conduct the inspection that happens both when taking out a vehicle and returning it.
Make them aware that you will be conducting random inspections of your own to check they don’t ignore the examination of a vehicle before and after use.
Regularly review your safe driving policies and update them as needed.
You can incorporate customized videos and other presentations to keep your staff updated on new laws as well as remind them of existing ones.
While your employees likely have been driving for many years and may have good driving records, it’s also a good idea to review rules of the road ― especially when new laws take effect.
Just as important as safety is communications with your employees. Since you’re not usually with them on the road, you don’t know what might be happening with a vehicle ― but they do.
What you don’t know not only can hurt your bottom line, but also literally can hurt employees.
So, make sure that you instill in them the importance of reporting any issues with the vehicle or any incidents they may have been involved in.
BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) 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 there and will 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, 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.
BGES Group offers 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!
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.
One workers’ compensation claim can send your experience modifier spiraling out of control if the injured employee stays away from work for an extended period of time.
The longer they are off work, the more costly the claim becomes since they will continue receiving temporary disability payments. That’s in addition to any medical expenses that are incurred.
Long open claims can hurt your future insurance premiums as well, so it’s to your benefit to work with the doctor, the injured worker and the insurance company claims adjuster to get the claim closed as soon as is feasible and safe for the injured worker.
Here are eight ways to support your injured workers and get claims closed:
Report accidents promptly
Require workers to report accidents immediately, no matter how minor.
While some injuries require just first aid that can be taken care of using first aid supplies (which you should have on hand as per Cal/OSHA requirements), others are more serious. If you are unsure whether first aid can fix the problem, it’s best to send the worker to a doctor.
Accompany worker to the clinic
Ask a supervisor to accompany the injured employee to the industrial clinic you have pre-chosen. There are good reasons for doing this, including:
There are reports of lawyers soliciting employees going into and out of clinics.
You gain useful feedback from your supervisor regarding the length of time it takes to be seen and how sanitary the clinic is. A filthy clinic does not send a good message to your employees.
Having someone along shows you care about the worker’s well-being and how serious the injury may be.
Investigate the accident
As soon as an accident is reported, investigate to determine what happened. Identify witnesses and separate and interview them one at a time to fully understand the whole story.
Explain the process
Explain the workers’ comp process and file the necessary claim forms.
Answer the employee’s inquiries quickly and designate someone as the primary contact.
Don’t leave them hanging
One reason that injured workers get an attorney is that they feel abandoned by their employer. Assign a supervisor to visit with the employee on a regular basis to keep them motivated to return to work and to answer any questions they have.
Positive, encouraging messages of the employee’s value to the company are often the best medicine.
Return them to work
Have a return-to-work program in place. If the physician clears the individual to return to work or for light duty with restrictions, make sure the worker, their supervisor and fellow employees understand the restrictions.
Have coverage with a doctor network
Establish relationships with doctors who have expertise in occupational medicine and understand the value of returning injured employees to work.
Monitor the claim
We can help you monitor the claim to ensure it’s on track. You can also make a point of regularly reaching out to the claims adjuster as well as the employee.
BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) 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 there and will 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, 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.
BGES Group offers 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!
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.
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.
BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists (we cover the tri-state area) 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 there and will 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, 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.
BGES Group offers 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!
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.
Even if you have company cars or a fleet of vans, occasions may arise that require an employee to run an errand in their personal vehicle or one of your employees needs to rent a car while on a business trip visiting a client.
In these circumstances if you don’t have the proper coverage, you could be leaving your organization exposed to liability if an employee injures a third party in an accident. There are two types of insurance that are vital in these situations: Non-owned auto coverage and hired auto insurance.
These two policies offer very different types of coverage, and it is important to understand each to ensure you find the policy that is right for your operation:
Non-owned auto coverage — This insurance protects your company if sued as a result of an auto accident that you or one of your employees has in a personal vehicle while on company business.
Hired auto coverage — This provides your company with liability insurance for vehicles that you rent, hire or borrow on a short-term basis for business purposes.If you or an employee are in a car accident while driving one of these vehicles for work, hired auto insurance can help pay for your liability costs.
You should consider these two coverage options if your company ever rents cars or vans for business purposes (including travel to conferences, visiting clients, etc.) or if employees use their personal vehicles to run company errands.
These important coverages are usually added to a general liability policy or a commercial auto policy as an endorsement or a rider.
When there are no vehicles titled in the company name, this additional coverage will serve to meet the contract requirement for commercial auto coverage in most states.
How the coverages work
Both hired and non-owned auto insurance are a type of liability insurance, meaning they will only cover property damage and injuries to third parties, as well as any legal fees, settlements or court judgements relating to third party claims. Hired and non-owned auto insurance helps cover:
Physical damage to a third party’s vehicle,
Bodily injuries and medical expenses if a third party is hurt in an accident with you or one of your staff, and
Legal expenses if your business gets sued for negligence.
However, these polices won’t help with:
Property damage to your business’s hired or non-owned vehicle.
Medical bills if you or your employee get hurt in an accident while using rented or personal vehicles.
Liability coverage, property damage or bodily injury from an accident while you or your employee drive for personal reasons that are not related to your business.
Do you need coverage?
If your business rents or borrows vehicles to do work or if your employees use their personal vehicles on business, hired and non-owned auto coverage is crucial to manage your risk.
It can help pay for any property damage that you or your employees cause while on company business in rented or personal vehicles. It also covers vehicles used for your business if they cause bodily injury to another driver in a car accident.
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
As the ransomware threat continues to grow and more businesses, utilities and government agencies fall victim to these cyber criminals, the federal government has created a new hub to assist in recovery.
The new website, www.StopRansomware.gov, is designed to make it easier for ransomware victims to access resources and recovery assistance, as well as serve as a resource for companies looking to harden their data infrastructure against ransomware attacks.
The State Department also announced that it was starting a ransomware taskforce that would offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity against critical U.S. infrastructure.
This new resource consolidates information from federal agencies on ransomware, provides news updates on ransomware incidents, and provides a way for reporting such attacks to the FBI.
The goal of the site is to mitigate ransomware risk by addressing the “fragmentation of resources” that often cause victims of ransomware attacks to miss important information when dealing with such attacks.
Www.StopRansomware.gov is run by the Cybersecurity and Infrastructure Security Agency and it’s separated into a number of sections, including ransomware prevention and response. It includes information that will take affected organizations through the response process:
Detection and analysis — Usually an organization learns that it has been hit by ransomware when its systems lock up and they receive a notice demanding that a ransom be paid to unlock everything. The website recommends taking the following steps at this stage:
Determine which systems were impacted, and immediately isolate them.
In the event you are unable to disconnect devices from the network, power them down to avoid further spread of the ransomware infection.
Identify and prioritize critical systems for restoration and confirm the nature of data housed on impacted systems.
Consult with your incident response team to develop and document an initial understanding of what has occurred based on initial analysis.
Meet with your internal team, outside consultants and any affected customers or vendors to so see how they can provide assistance to mitigate, respond to and recover from the incident.
Containment and eradication— If no initial mitigation actions appear possible:
Take a system image and memory capture of a sample of affected devices (for example, workstations and servers).
Also, collect any relevant logs as well as samples of any “precursor” malware binaries and associated indicators of compromise (such as suspicious command and control IP addresses, suspicious registry entries, or other relevant files detected).
Preserve evidence that is volatile in nature — or limited in retention — to prevent loss or tampering (e.g., system memory, Windows Security logs, data in firewall log buffers).
Consult federal law enforcement to inquire about any decryption tools they may have to unlock the ransomware. Cyber security researchers have already broken the encryption algorithms for some ransomware variants, so you may be in luck.
The takeaway
The site also includes a number of ransomware prevention best practices, as well as services that can help your organization prevent attacks and recover from them
Any organization with a database should go to this site and make sure it is doing all it can to prevent ransomware and other cyber threats. And the site should be bookmarked in case a ransomware attack succeeds, as the step-by-step guide and other resources can help you contain the damage.
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
Even though your insurance premium payments appear on your books as an expense, you are in fact purchasing a valuable asset.
The law firm of Anderson Kill recommends in a blog that companies treat their policies as assets that must be actively managed if their full value is to be realized when they are needed.
It recommends the following steps for maximizing the value of your insurance policies:
Save your policies — Make sure that you retain your insurance policies and accompanying documentation. If you are considering destroying an old policy, make sure first to review your activities and the policy to make sure you may not need it to respond to a future loss or a new claim that dates back to the time the policy was in effect.
New claims that are related to others made during the policy period can also arise, as can claims that arise out of circumstances that were reported during the policy period.
Be smart about how you organize your old policies. If you have multiple lines of coverage, you may want to consider using a spreadsheet to keep them organized.
Review new policies immediately — Once you receive a new policy, make sure that it matches the certificate and/or your correspondence with your broker or carrier. If you review the policies upon receipt, you can identify any potential problems. At this point it is usually not too late to get any issues fixed. Wait too long and that may not be the case.
If you do find any discrepancies, your insurer may be able to issue a revision, endorsement or clarification. If they don’t, at least you’ll be on record disputing a portion of the policy and you’ll have proof you did not waive anything.
Review coverage after every loss — Whenever you are faced with a potential loss, you should immediately assess which of your policies would respond. You can call us for assistance if needed.
And if you think that a policy or policies may cover a potential loss, notify your insurance carrier promptly. This is important so that you are abiding by your policy’s “timely notice provisions” requiring that you give notice within a certain period of time once you become aware of a potential loss or liability.
Don’t let the matter languish until it becomes a full-fledged claim or wait to see if another party will pursue payment for an alleged liability.
This strategy will work in your favor. If you eventually decide to handle it on your own and not file a claim, there has been no harm for you or the insurer. However, if you fail to file the claim in the required period of time, you could well be setting yourself up for forfeiture of the claim. And if you do wait and the insurer disputes the claim, you could be in for a long and costly legal battle.
Mergers, spin-offs and acquisitions — If you are going through a merger or acquisition, you need to pay special attention to insurance issues. It may not always be easy to transfer insurance assets that cover both a division that’s being spun off and other parts of the operations.
While it’s desirable that insurance for a covered unit be transferred with the sale, this is not always possible, particularly if the insurance company decides not to approve the transfer. If it refuses, you may have to consider other means of transferring risk.
Call us if this is the case.
Additional insured? Ask for policy copy — If your company is named as an additional insured on another company’s policy, ask the other firm for a copy of the policy, and not just a certificate.
Once you obtain the policy, you can then review it to make sure that your company was properly added as insured.
Also, if you have a copy of the policy in hand, you’ll be better able to respond should a loss or a claim arise. You will know where and how to give notice, what coverage is available, what exclusions might apply, what other conditions might apply, and how deductibles, retentions and limits of insurance are allocated and calculated.
Conversely, if you don’t have a copy of the policy, you have effectively ceded all of the control over the loss and claims-making process to your contractual partner.
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
It might be hard to fathom any type of audit being beneficial, but when your insurer conducts a premium audit for your account, it can just as important to you as it is to your carrier.
When you were first issued your policy, the carrier looked at the estimated sales figures or payroll data that you provided to them. It calculated your premiums based on this information. Now that you have real numbers under your belt and actual experience, the information can be reassessed to determine the correct premium amount.
Depending on how your business operates and the size of your policy, there are several methods your insurance carrier can use to conduct your premium audit, including:
Mail — Your insurer will mail you an audit form and the instructions to complete it. Once completed, you will return the form by mail to your carrier.
Phone — Your carrier will hire an independent audit company to conduct your audit over the phone.
Physical — Your insurance company will usually conduct the audit at your business, but it could be conducted at an alternative location, such as your certified public accountant’s office.
Regardless of the method, the audit will typically include your disbursements and payroll journals, ledgers, tax and Social Security reports, state unemployment forms, and other accounting records being inspected. Depending on the audit, other documents could be involved.
The data is then used for determining and adjusting premium amounts (either higher or lower). If it’s higher, you may be asked to pay back premium for the months that you underpaid for coverage.
Be prepared
The best way to handle these audits is to be prepared, and that means keeping track of certain documents and records and having them conveniently accessible so you can produce them at a moment’s notice.
The most commonly audited policies are liability and all workers’ comp policies. The
audits collect exposure information estimated when the policy was written and compare it to the actual numbers.
Here are the main records you will need to produce:
Liability policies
Gross company sales
Independent contractor costs (insured and uninsured)
Payroll for certain types of exposures.
Workers’ compensation policies
Actual employee payroll
Cost of independent contractors if no certificate or proof of other coverage is provided.
If you are notified that you will be audited, you can make the whole process easier and less stressful and hopefully end on a positive note if you follow these tips:
How to prepare
Once you’ve been notified that you’re up for an audit, there are a number of steps you can take before the auditor arrives:
Find out what the auditor will be reviewing by looking at their worksheets and past audit billing statements.
Determine which of your employees would be best suited to work with the auditor. Look for someone that’s both knowledgeable about the accounting records that will be used in the audit and about what work is done by various employees and departments.
Collect all the accounting records that will be used during the audit.
If you use subcontractors, make sure that you have their certificates of insurance on hand. Ensure that your documentation shows all the contractors have their own general liability insurance and workers’ compensation coverage.
Check that your payroll documents include a breakdown of wages according to class code, department and employee.
The day of the audit
Make sure you have all the applicable records easily available to the auditor. You might request the audit be conducted at your place of business.
Ask the auditor to explain any points that aren’t clear to you.
Request a hard copy of the auditor’s findings.
After the audit
Carefully assess the audit billing statement, comparing it to your original policy. Discuss the findings with us for assistance and advice.
Don’t agree to pay any additional premium dollars until after you have talked to us, you’ve made a list of all changes and discussed any problematic areas with the auditor.
Knowing what to expect and how to prepare is the key to a successful audit. Even if you end up being charged back-premium, it could be worse if you don’t keep accurate records. By regularly updating records that your insurer would ask for, you’ll be ahead of the game and you may identify changes that may affect your premium.
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
Almost all businesses have some risk of being sued or cited for pollution, even the most benign, such as a property owner.
Pollution exposures for many businesses are obvious – like dry cleaners from the chemicals they use, to printing companies from the ink they use. And any manufacturer would face some type of pollution exposure as well, in addition to warehouse operators and contractors
Think you’re not exposed? Say you own a business property, even an office building for example, you could have pollution exposure such as:
The existence of lead (paint and pipes) or asbestos.
Releases of pollutants by tenants from improper or inadequate storage or disposal of lubricant oils, primer or lab waste material.
Inadequate containment in loading areas that could lead to the release of pollutants.
However, as the risks have grown for pollution liability, most commercial general liability policies now exclude pollution coverage. It’s something to be aware of for most any business, particularly as the list of what is considered to be a pollutant has grown dramatically.
The exclusion
The easiest way to think of a pollution exclusion is that it can apply to a contaminant. Virtually every commercial general liability policy includes a pollution exclusion.
These policies used to cover pollution but as the risk for being sued for pollution has grown, so then has the exclusion.
The standard policy has two pollution liability coverage forms. It also has a special form for underground storage tanks.
The current version of the Insurance Services Office (ISO) commercial general liability form has pollution coverage narrowed down to a few covered occurrences, typically including:
Certain off-premises exposures
Certain product-completed operations
Smoke, fumes, soot, vapors from your heating equipment or from a fire in your building
Gas or fumes from materials you bring into a work site.
The broad definition of pollution
Consider these examples:
A food company in Wisconsin recalled a batch of listeria bacteria-contaminated sandwiches and filed a product recall claim with its insurer. However, the insurer denied coverage based on the policy’s pollution exclusion. The court sided with the insurer, concluding that bacteria were an excluded ISO form pollutant.
A hospital in California was sued after an outbreak of legionnaire’s disease was traced back to a drinking fountain in the hospital lobby. The insurer rejected coverage for the lawsuits, citing a fungus and bacteria exclusion in their general liability policies.
The solution
What are the solution options when it comes to the pollution insurance question? You can have a specific commercial liability form or a separate pollution liability policy.
Pollution liability insurance is designed to address claims and suits involving pollution losses in which it is alleged that the insured is responsible, as well as property losses related to pollution on owned or occupied property.
Typically a pollution liability policy covers three risks:
Premises pollution liability — Covers first-party claims associated with pollution on the premises of the insured. (Example: It is discovered that instead of clean soil, contaminated soil was used to fill a space formerly occupied by an underground storage tank that leaked. The cost of remediation would be covered.)
It would also cover third-party claims associated with the pollution (like when a person falls sick due to the pollution).
Contractors pollution liability — Covers bodily injury, property damage and remediation costs for which a contractor who causes pollution is liable.
Errors and omissions liability — Covers losses that result from wrongful acts performed in conducting professional services, such as a soil engineer erroneously rendering an opinion that there is no soil pollution, when in fact, there is.
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
Studies show that for every major workplace injury or fatality, there are nearly 10 minor injuries – and more than 30 accidents that lead to property damage.
Capturing data even on minor incidents that may seem trivial in isolation can be critical in informing efforts to prevent much greater dangers in the future. A big part of that effort involves ensuring businesses maintain a complete set of data.
Managers at all levels should focus on solid and thorough documentation. Here is where management’s main effort should be concentrated:
Don’t ignore minor incidents. Document all of them. Even if you have avoided injuries and severe property damage so far, keeping careful records may provide critical risk management insights – and enable managers to take action to prevent accidents before they occur.
Identify patterns. Do minor incidents seem to happen in the same area? Involve the same or similar machinery? Are they in the same department or under the same manager? Careful record-keeping is a valuable tool for identifying patterns.
Discourage presenteeism. Workers who come to work sick may be taking medications that increase the risk of incidents. Workers are not robots: Sick or distracted workers may make serious or deadly mistakes. To prevent this, have a sustainable sick day policy and encourage workers to take time off when needed – especially in dangerous occupations.
Encourage reporting. Studies have shown that the vast majority of minor incidents are not properly reported or recorded.
When asked why they didn’t report safety incidents, workers cited a number of reasons:
Fear of reprisal
Poor management response to prior reports
Fear of losing their job or being transferred to a less desirable position
Belief that pain or another medical symptom was a normal consequence of work activity or ageing.
Maintain OSHA-required injury logs. By federal law, most employers must maintain the following safety documents:
OSHA Form 300 – Log of Work-Related Injuries and Illnesses
OSHA Form 300A – Summary of Work-Related Injuries and Illnesses
OSHA Form 301 – Injury and Illness Incident Report
Employers with 10 or fewer employees at all times during the preceding calendar year are exempt from the federal requirement, though many states may impose more stringent requirements.
Record near misses. Often, near misses – in which property damage, injury or fatality were narrowly avoided – can provide data that’s just as valuable as for incidents resulting in actual damages or injuries. This information can prove vital to informing prevention efforts.
Perhaps most importantly, carefully documenting all safety incidents and near misses, however minor, may help establish a culture of safety throughout the organization.
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
