Business insurance can get complicated. Organizations need to protect themselves against damage to their property, income they may lose if they have to shut down after their property is damaged, and the risk of lawsuits.

With the risks of natural disasters, crime and other types of losses that separate policies cover, there can be a lot to keep track of.

It does not have to be so complicated. Small businesses can meet most of their insurance needs with a single product: a Businessowner’s Policy, or BOP, as it is commonly known.

BOP packages essential coverages into a single insurance policy. At its most basic, a BOP provides three broad coverages:

• Property   Insurance for the business’s buildings (if it owns any), contents including inventory, furnishing and equipment, and other property used by the business.
• Business interruption   Insurance for lost income resulting from a business shutdown following damage to the property or extra costs the company incurs to stay open after the damage.
• Liability   Insurance covering amounts the business has to pay as damages to settle some lawsuits against it, as well as legal costs for defending against those suits.

BOPs offer some flexibility to the buyer, but not the overwhelming variety of choices that individual property and liability policies offer.

Enterprises can choose between insuring against a broad list of causes of property damage loss or “special” causes of loss. The broad form covers only the causes of loss listed in the policy; the special form covers all causes except those listed in the policy.

The special form costs more because it covers more.

The business must select the amounts of coverage it needs to protect its buildings and property.

However, it is unnecessary to select an amount of insurance for business interruption coverage. The policy simply pays for the actual loss the business sustains during a necessary shutdown caused by covered damage to the property.

Typical inclusions

BOPs typically include small amounts of coverage that would otherwise have to be purchased separately, such as:

• Loss or damage to valuable papers and records.
• Debts the business cannot collect because of loss or damage to accounts receivable records.
• Income lost when the business must shut down due to an interruption in computer operations.
• Some types of crime losses.
• Clean-up and removal of pollutants.

The policy covers the business’s legal liability for bodily injuries, property damage, advertising injury and some types of non-bodily personal injuries to others. Most insurers offer businesses a choice of only three or four amounts of liability insurance.

BOPs may be customized to include other types of insurance, such as for liability resulting from the use of autos the policyholder hires or borrows.

However, a BOP is not a substitute for an automobile insurance policy, and it does not include workers’ compensation coverage. Those policies must be purchased separately.

To qualify for a BOP, a company cannot exceed a certain size, such as 100 employees or $5 million in revenue. For those businesses that qualify, a BOP is a sensible foundation for their insurance programs.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, Workers Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

When you get a commercial insurance policy, in many cases premium assigned isn’t final. It’s actually an estimate. Your carrier assigns a premium based on an informed guess, based on your prior year business activities. Business changes, of course, and estimates can be off. The purpose of insurance premium audits is to use actual sales and operations data to determine how accurate their guess was. The audit then determines the amount of your final premium.

At the end of the process, you could wind up with a balance due, meaning you underpaid premiums for the year, or you could wind up with a credit. This means you overpaid your premiums for the year and the carrier is either crediting or refunding your overpayment to you.

These audits are very common when it comes to General Liability insurance, liquor liability insurance, workers compensation insurance and similar commercial/business insurance policies.

Ask your agent what the basis is for your premiums. Your exposure basis is the data that the insurance company uses to calculate its expected risk, and with that the premiums to cover that risk. Examples include payroll data, sales data, vehicle counts and/or mileage data, and the like. They may also ask for a description of your operations, information about the officers and owners of the company, job duties, names of subcontractors, certificates of insurance for subcontractors, and/or tax documents.

Make sure your figures for the audit are as exact as possible. If you asked up front exactly what your premium basis was, you shouldn’t have to use estimates. If you do, or if the carrier feels they are not quite getting the full story, they will request further information, or they could wind up charging a higher premium to compensate for the underwriting uncertainty.

 Workers Compensation Insurance

Since workers compensation policies are based entirely on payroll data, payroll audits are very common, and if you keep good records, fairly simple. The carrier can audit on a yearly, quarterly or monthly basis, and your premium will be adjusted up or down based on the last period’s audit. In many cases, this auditing process has become fully automated.

Commercial Liability

Commercial liability carriers usually base their premiums on sales levels. Occasionally they’ll ask for some other data including square footage or payroll data – especially during the early months of the policy period, or if you’ve expanded floor space.

Cargo/Freight Insurance

Cargo insurance is generally based on shipping volume or overall valuation of goods shipped.

Liquor Liability Insurance

Carriers vary, but premium basis usually includes gross sales, broken down between alcohol gross sales, non-alcoholic beverage sales and food sales, along with some operations information. Your insurance agent should be able to tell you at the beginning of the term what information to have available for the premium audit.

Best Practices

• When you apply for coverage, ask exactly what the premium basis is. This way, you know exactly what numbers you need to have on hand when it comes time for the premium audit, and the process should go quickly and smoothly.

• Keep track of time and payroll for different kinds of work, job categories, etc. This allows for the lowest workers compensation premiums that still provide protection for workers and the company alike. Include overtime.

• Get certificates of insurance for your subcontractors: General liability and workers compensation.
• Ensure a responsible and informed individual is present and available for on-site audits.

• Restaurants should keep tip records.

• Inform your agent right away about any large changes to your payroll, whether up or down.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

Employer misclassification of workers as independent contractors is a large and growing problem. Employers trying to keep their costs down may inadvertently or deliberately misclassify workers who should be classified as employees. They escape employment taxes, unemployment and workers’ compensation insurance costs, and paying overtime rates required by law for employees. They also cheat workers and gain an unfair advantage over their law-abiding competitors.

Federal and state authorities have begun to crack down. The U.S. Department of Labor won $79 million in settlements for 109,000 workers in 2014 alone. The employers caught breaking the rules come in all sizes and from many industries. To name a few examples:

– In 2013, a federal judge ordered a large provider of information services to pay $1.3 million to nearly 15,000 current and former employees. The employees had worked from home, answering text messages from customers. The company paid them a set rate for each message responded to, without regard to the number of hours they worked. The Labor Department determined that the company had misclassified the workers as independent contractors. Since they were actually employees, they were entitled to the minimum wage. The department calculated that their per-hour rate was below that. The judge’s order raised their compensation up to the minimum.

– Four related New York City plumbing and heating contractors paid a $1.4 million settlement in 2015 for, among other things, misclassifying 25 workers as independent contractors. The employers paid them a weekly wage that did not include the required time-and-a-half rate for hours worked beyond 40.

– A Kentucky-based cable, telephone and Internet installation company was found in 2013 to have misclassified 77 employees. The “independent contractors” performed the same work as others who were classified as employees. All workers were paid based on the pieces of equipment they installed, rather than the number of hours worked. Consequently, none of them received overtime pay. The company paid $1.075 million in back wages and damages to 200 employees.

– A Chicago home cleaning service classified 55 maids as independent contractors. This despite the fact that it forced the maids to sign non-compete agreements and forbid them to clean homes that were not assigned by the company. If the maids exceeded time limits for cleaning houses, they were threatened with disciplinary actions and having their pay docked. The company tried to skirt the overtime law by paying them a flat rate per house cleaned, regardless of how long the job took, and did not pay them for travel time. A federal judge ordered the company to pay the workers $184,505 in back wages and damages.

– A $4.5 million arbitration award to 16 misclassified limousine drivers forced a California car service into bankruptcy in 2012.

These companies suffered severe consequences for breaking the law. Any business that is unsure how to properly classify workers should check with federal and state labor regulators, the IRS and state tax authorities, or labor and tax attorneys. The short-term cost advantages from misclassifying workers are not worth the penalties that come with getting caught.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

Many workers are unclear on the difference between disability insurance coverage and workers compensation insurance. Often, workers will decline optional disability insurance coverage, however badly needed – because they think they are covered under their employer’s workers compensation plan. This is usually a mistake.

Workers Compensation is designed to protect both businesses and workers from the devastating potential consequences of work-related injuries and fatalities. Under workers’ compensation plans, covered workers are guaranteed access to a substantial pool of money that can cover lost income, pay medical expenses (generally with no deductibles or out of pocket costs) and provide for job retraining and physical and occupational therapy services that would be beyond the ability of many employers to pay out of their own pockets. In return, workers give up the right to sue their employers for damages arising from covered incidents. This also helps protect workers, because if they had to resort to lawsuits, the courts could take months or years to resolve claims – and meanwhile the worker may have nothing to live on.

Most state laws require employers to carry workers compensation insurance.

Disability insurance, on the other hand, is designed to protect the insured from loss of income arising from a disability from any covered cause, except for exclusions for disabilities arising from criminal activity or acts of war that would normally be covered by VA or military medical insurance (Tricare).

In the event of a qualifying disability, the disability policy will provide a percentage of pre-disability income, which is normally between 50 and 70 percent. (This benefit is taxable if the employer pays the premiums, and tax-free if the premiums are paid by the insured with after-tax dollars).

Why Workers Need Private Disability Coverage

According to the Council for Disability Awareness, only about 1 disability in 20 is the result of a workplace injury or work-related illness. Fully 95 percent of all disabled individuals would not be covered under workers compensation rules. They became disabled because of chronic illnesses and accidents not related to the workplace.

Common causes of disability include musculo-skeletal and nervous system diseases like muscular dystrophy, multiple sclerosis, rheumatoid arthritis, as well as things like biking and ski accidents, complications from pregnancy, schizophrenia and other mental illnesses – none of which would ordinarily be covered under workers compensation insurance.

In the absence of disability insurance coverage, the average worker has little or no protection in place to safeguard the worker or his or her family from the devastating effects of a disability that robs the worker of his or her ability to earn a living.

Furthermore, even where workers compensation insurance is in place, benefits may not be sufficient to cover wages for higher earners. Some states have cut back on wage replacement benefits available under workers compensation in order to reduce costs. Employers pay substantial sums in workers compensation premiums. Where benefits are high, premiums must also be high, and this can make it difficult for states to attract business. This creates economic and political pressure to reduce benefits and premiums. According to ProPublica, 33 states have moved to reduce workers compensation benefits to workers since 2003. This is another reason workers need private disability insurance, whether owned individually or as part of a group employee benefit plan.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

Workers’ Compensation can be a large cost center for a business. The extent depends on the type of business and the state where the business is located. The cost to insure a single employee making $30,000 per year can range from less than $100 (for a clerical worker) to around $1,400 (for a restaurant worker) to more than $10,000 (for a roofing worker). For employers in industries that require dangerous work, limiting Workers’ Compensation costs is vital. Here are three things they can do.

First, employers should prevent injuries from happening. There are as many ways to keep a safe workplace as there are workplaces. However, certain components of a safety strategy are universal:

• Keep workspaces clean and free from clutter. Slips and falls can happen in an office, a fitness center, a store or a construction site. Post warnings of slippery surfaces or floors littered with power cords and computer cables.

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

• Provide appropriate protective equipment. This means gloves and hardhats on construction sites, burn protection at restaurants, masks and gloves in medical offices, and so on.

• Train workers on safety. Make sure they know the safe ways to perform all tasks. Do this during new employee orientation and hold periodic follow-up safety training sessions. These will be needed more often in hazardous work environments. All workplaces where frequent injuries are occurring should also have them.

• Create a safety-conscious culture. Model safe work practices and let employees know they are expected to do likewise. Recognize and reward safe practices. If the business can afford it, pass on a portion of Workers’ Compensation savings to employees in the form of bonuses.

Second, limit the costs of injuries that do occur. Ensure that the employee gets prompt medical attention. Work with the insurance company to monitor the worker’s recovery and the costs of treatments. Ask for second opinions on expensive surgeries or treatments. Permit injured workers to return to work in lighter duty roles until they are healthy enough to resume regular work.

Third, keep detailed and accurate records of the tasks that employees perform and how much they are being paid. Workers’ Compensation premiums are based on broad employee classifications. Suppose a business has 10 employees, with eight of them doing hazardous work and two of them performing customer service work. Without records segregating the payroll of the clerical workers from the others, the insurance company will assign the high-hazard classification to all 10 employees. The business will pay more than necessary.

Workers’ Compensation ensures that injured workers have a reliable and speedy source of funds for medical treatment and to replace lost income. However, employers who manage it wisely can keep it from becoming too burdensome. Work with a professional insurance agent to arrange an insurance program that makes sense for the business. The business can both take care of its workers and reward its owners.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

The business of leasing workers to other employers has become a $92 billion dollar industry, according to the National Association of Professional Employer Organizations. Businesses of all sizes have chosen to outsource employee management to leasing firms, attracted by reduced paperwork, benefits costs, and legal obligations they would otherwise have. However, employee leasing comes with risks that business owners should contemplate before making the leap into such an arrangement.

First, an employer paying to lease employees loses a certain amount of control over them. They’re not the client’s employees, so he cannot hire or fire them. Leasing firms may give him choices among available workers, but there’s no guarantee that he will get the ones he wants. He may find himself with a group of workers who don’t meet his needs, whether because of skill levels, work ethic, attitude, or some other reason.

In a non-leasing situation, there are two parties involved in a dispute over work hours, benefits, performance, or other issues – the employer and the employee. Leasing adds a third party to the conversation – the leasing company. Some issues are between only the employee and the leasing company, but others may involve the client employer as well, such as arguments about hours worked or overtime. Adding an extra party to the discussion necessarily complicates it.

Some leased employees may also not be committed to the client’s business. While some businesses have “fired” their entire staffs and then leased them from a firm that hired them, others simply accept those employees that the leasing company provides. This may create an environment where the workers feel like temporary or seasonal employees with no long-term future at the client’s firm. As a result, they may not feel the same level of commitment that permanent employees might feel.

In a leasing arrangement, the leasing company assumes the obligations to meet payroll, pay taxes, administer benefits, and possibly obtain Workers’ Compensation and Unemployment Insurance. However, if the leasing company goes out of business or is run poorly, these obligations will fall back on the client employer. This leaves the client with the worst of both worlds – paying fees to lease employees while also incurring the costs and obligations of not leasing them.

While Workers’ Compensation laws have a lot of similarities from state to state, there are differences. Some states may preserve the client employer’s immunity from worker lawsuits, but others may not. Some states may still require the client to have its own Workers’ Compensation insurance policy, which reduces one of the advantages of leasing. Even where the leasing company provides the insurance, the cost of providing that insurance is loaded into the leasing fees, and the client has no control over the choice of insurer, loss-sensitive pricing plans, or whether the premiums are paid.

Having a permanent paid staff presents a lot of challenges to business owners, from human resources issues, unions, complying with employment laws, and handling payroll, taxes and benefits. However, employee leasing may not be an ideal solution to those challenges.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

The law requires most businesses to carry workers’ compensation insurance. This protects employees and employers both, and it gives income to workers in the event they are injured badly enough they require time off of work to heal. For employers, workers’ compensation liability insurance gives coverage for any lawsuits that may be filed due to work-related injuries.

The amount of money employers pay for workers’ compensation insurance will vary depending on the industry of work and the company’s claim history. For companies where the work is based out of an office, insurance is much less expensive than it would be for more dangerous jobs such as warehouses, trucking companies or factories. Regardless of the industry, there are several ways employers can keep their workers’ compensation costs under control. Keep these helpful tips in mind.

Train all new employees thoroughly. According to research, about 30 percent of claims come from accidents that involve new hires. Employers should review their orientation programs to identify weaknesses and areas for improvement. It is better to be too thorough than not thorough enough with these programs.

Keep safety as the top priority. Not incurring claims is the best way to keep costs lower. Employers should build a culture of safety throughout the workplace that engages workers in their efforts. For example, making safety councils where ideas are solicited from workers about how to make the workplace safer is a useful step.

Screen all potential new hires carefully. Make sure the right workers are hired initially by taking advantage of screening options. Researchers say that workers who are substance abusers are much more likely to cause accidents on the job and sustain injuries. Drug screening programs should be essential in every workplace for possible candidates, and background checks that are applicable with state laws can also help in many instances.

Classify all workers correctly. Classification codes are used to identify workers’ levels of compensation. When employees are not classified correctly, the employer may find coverage is inadequate. There are fines for wrongly classifying workers and not having enough coverage.

Manage all claims proactively. If an employee sustains an injury on the job, it is important for the employer to keep track of the worker’s condition. He or she should also begin planning for the worker’s return as soon as possible. It is better to have the worker come back and perform light duties than to stay off work for a long time waiting to return to his or her traditional heavier duties. Having a worker rejoin the workforce and perform lighter duties is a good way to help reduce a claim as well.

Workers’ compensation coverage is a must for all employers. Controlling costs will help keep the business competitive and lower expenses. To learn more, discuss concerns with an agent.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

As businesses have gotten wise to malicious e-mails that try to trick their employees into clicking on unfamiliar links in e-mails, cyber criminals have devised a new way to con people into opening up their networks a method called “BazarCall.”

Ransomware is a type of malicious software (malware) that blocks a user from accessing programs and data on a workstation or entire computer network until a ransom is paid to the criminals who installed the malware.

Cyber criminals typically install ransomware on networks by sending phishing e-mails (e-mails sent by someone impersonating a legitimate business) to users. The e-mails contain links that, if clicked on, give the criminal access to the user’s network.

Once access is gained, the ransomware is installed, the user’s network eventually grinds to a halt, and the user’s organization has to either pay the ransom or recreate its data.

The BazarCall threat

BazarCall has created a new threat to businesses. According to cyber insurance provider CFC, BazarCall is a new type of attack methodology, known as “telephone-oriented attack delivery” (TOAD). Here’s how it works:

• A cyber criminal sends a phishing e-mail with instructions that the recipient should call a certain phone number. The message typically refers to a subscription the recipient allegedly has.
• The recipient calls the number (supposedly a call center) and receives instructions to visit a specific website. For example, the e-mail may have advised the recipient to call the number if they no longer wish to continue the “subscription.” The “call center” directs them to a website that supposedly will enable them to cancel the subscription.
• The recipient, following instructions, visits the website. The site directs them to download a file, such as a Microsoft Excel file. Unbeknown to the recipient, the Excel file contains code that, once enabled, infects the computer with ransomware.
• From a public folder on the computer, the ransomware installs on the network and the cyber criminals are off to the races.

This method gets the initial e-mail past security screenings because it does not ask the recipient to click a link. The criminals have no need to penetrate the target’s network because the recipient does the work for them by downloading the file.

This is a relatively new method and many organizations have not warned their users about it. CFC found that this method was used in 10% of ransomware attacks in the spring of 2022.

What to do

To protect your network against BazarCall and other TOAD attacks:

• Keep antivirus and firewall firmware updated. This can help remove infections before they spread.
• Require remote users to use multi-factor authentication (MFA) for all connections to the network. MFA requires the user to input a second identifier in addition to their password in order to gain access. It presents an additional obstacle to cyber criminals.
• Make employees and other users aware of the new threat. Raising awareness may be the single most effective thing an organization can do, since most successful attacks result from human error.

Cyber criminals are relentless in their quest to find new ways to victimize people and organizations. The financial losses they cause are growing at astronomical rates. A continuing mix of technology and user training are the best ways to fight back.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

With a red-hot economy and many companies forced to operate with more new employees and/or limited staffing, mistakes are bound to happen and that can be costly.

These mistakes can result in workplace accidents, lagging productivity leading to missed deadlines, or errors that result in returns or, in the worst-case scenario, lawsuits by angry clients.

If your business has taken on new employees or if you’re understaffed, you have to get firm control of your operations and properly manage your risk.

The risks of new employees

Workplace injuries can increase when you have new staff with less experience on the floor. In prior recoveries, when employers increased their workforce to meet the growing demand for their products and services, the number of workers’ compensation claims tended to rise disproportionately. New employees with less experience typically are more likely to sustain a workplace injury or injure other workers.

Double down on workplace safety if you have new staff, particularly if you operate a busy workplace.

Inexperienced employees can also make mistakes, which can cause problems with customers. If the mistakes are large enough, like a large print mailer that went out with the wrong phone number, you could be sued by your client.

Again, training is key to reducing the chance of mistakes. You should have safeguards in place, like supervisors double-checking products before they are delivered to clients.

Inexperienced employees are also more likely to contribute to incidents where third parties are hurt, such as new drivers. Moreover, new hires may still be going through their training or may not be properly supervised when they work.

The risk of being short-staffed

Because of the labor shortage, many employers have been forced to operate with fewer employees than they actually need, squeezing more work out of existing staff. But tired workers make mistakes.

If you can’t find enough employees to fill open positions and are forced to work short of optimum staffing levels, you can face a number of risks:

• It can leave existing employees spread thin and stressed out.
• Lower production, service delays, or missed deadlines.
• Overworked staff are less likely to be high producers.
• If your workers become disgruntled because of being overworked, they may find fault with your leadership practices, opening you up to possible employment liability claims.
• In order to get the work done, some employees may cut corners, which can result in workplace accidents or shoddy final products.
• Overworked staff cause more workplace accidents. Some of the worst industrial disasters have been the result in part of tired workers. Bhopal, Chernobyl and the Exxon Valdez oil spill all involved decisions made late at night or extremely early in the morning by people working long hours.
• If you miss deadlines or your quality slips due to staffing issues, you’re more likely to be sued by your clients.

The takeaway

The dual threat of new employees and being short-staffed creates a number of risks for companies to manage. Management and supervisors need to be especially vigilant during these times to ensure that your existing staff are not overworked and that new workers are trained properly in their jobs, as well as in the dangers in your particular workplace.

If possible, pair up new workers with experienced ones who can show them the ropes and proper work techniques, and how to avoid workplace accidents. Safety training is also key and safe work practices need to be reinforced regularly.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group

In a town about 30 minutes’ drive south from Boston, there is a former fireworks factory. The factory made and tested munitions there for more than 60 years. Its operations left the soil and water there with high concentrations of chemicals, including mercury and lead. The pollution is so bad that the site qualifies for the federal Superfund program. However, the town government instead will receive $70 million from a fund the owners negotiated with federal prosecutors.

Press reports have not mentioned the owners’ insurance coverage. This situation illustrates why businesses need environmental liability insurance.

Most businesses buy commercial general liability insurance policies. For decades, CGL policies have not covered the large sums necessary to repair environmental damage. They emphasize that they do not cover liability for injuries or property damage arising out of the actual or suspected release of pollutants. The term “pollutants” includes solids, liquids and gases, such as smoke, fumes, acids, chemicals, and waste products. While the policies may provide some limited coverage for pollution incidents, the insurers’ clear intention is to not cover most of them.

For this reason, insurers have created different types of environmental liability insurance. The Insurance Information Institute describes several of them. The owners of the fireworks factory needed environmental impairment liability insurance. This coverage applies to incidents first reported during the policy term and occurring after a specified date. For example, the date might be one, five or ten years before the date the policy took effect.

The insurance applies to the policyholder’s legal liability for pollution-related damages to specific locations. It covers the costs of government-required clean-ups of contaminated sites. It also covers damages the business owes to third parties for injuries or property damage. The cost of defending the business against associated lawsuits is also covered.

EIL coverage applies to sudden incidents, such as when a chemical storage container ruptures. It also covers gradual losses, such as when pollutants leak over a long period of time into the ground or a stream. The insurer will ordinarily inspect a site prior to providing coverage, to verify that it is not contaminated.

There are other types of environmental insurance policies as well.

– Environmental contractor liability insurance covers the operations of firms that clean up sites.

– Contractors pollution liability insurance covers pollution incidents at job sites.

– Environmental testing laboratory liability insurance covers mistakes labs make when analyzing soil, water and air.

– Pollution clean-up indemnity insurance covers ships and vessels carrying oil or other toxic substances.

– Underground storage tank pollution liability insurance covers property owners who store fuel or oil in UST’s.

– Errors and omissions insurance covers environmental consultants. It can also cover real estate agents and lenders who work with properties that turn out to be contaminated.

Massachusetts officials have pegged the cost of cleaning up the site of the old fireworks factory at up to $100 million. Costs like that can bankrupt a business. Any business or landowner who works with or suspects the presence of toxic substances should discuss this important insurance with a professional agent. If they are to survive environmental damage claims, they need this vital protection.

BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Workers’ Compensation, Worker’s Compensation Premium Recovery, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.

Special Contractor Insurance Programs (NY, NJ, CT) – We we have 60+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer, subcontractor screening, ways to lower your insurance costs.

BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Replacing policies that are being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits;  9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2022 – BGES Group