As unpredictable weather like the pummeling rains that hit the West Coast in early 2023 grow across the country, businesses that are not properly insured could be left paying for damage to their properties out of pocket.

With flooding events increasing, it’s noteworthy that many companies located in or near flood zones do not carry commercial flood insurance, without which any damage their properties sustain won’t be covered. Damage from flooding, including inundation generated by a hurricane-generated storm surge, typically is not covered under a standard commercial policy, including a commercial package policy or a business owner’s policy.

Companies located in flood plains will usually carry some flood insurance, but 30% of all floods in the U.S. occur outside such areas. As the recent storms in California illustrate, even businesses and homes located outside of flood plains are at risk.

The main source for coverage is the National Flood Insurance Plan (NFIP), a federally backed program. There are also a handful of private carriers that offer flood insurance. We can help you secure the best coverage for your needs and situation.

What does flood insurance cover?

First off: If your commercial property is located in a high-risk flood area and you have a mortgage from a federally regulated or insured lender, you are required to purchase a flood insurance policy. But as mentioned above, properties outside of designated flood zones can also flood. 

Insurance covers damage to your building and contents caused by flooding.

This includes losses resulting from water overflowing rivers or streams, heavy or prolonged rain, storm surge, snow melt, blocked storm drainage systems, broken dams or levees, or other similar causes.

Also, damage from mold and mildew resulting from the after-effects of a flood is covered, but each case is evaluated on an individual basis.

Mold and mildew conditions that existed prior to a flooding event are not covered, and after a flood, the policyholder is responsible for taking reasonable and appropriate mitigation actions to eliminate mold and mildew.

On the other hand, if water comes from above — for instance from rain or melting snow overflowing gutters and leaking onto your inventory — you’ll be covered by your standard commercial property insurance.

What’s my risk for flooding?

If you are not in a designated flood plain, the best general indicator for the risk you face is whether your commercial property is at ground level or on an elevation.

Location is the most important factor for weighing your risk. Is your business situated in or near a flood zone? Flood map search tools can be found online.

If not in a flood zone, is it near the coast or a river, lake or stream. As seen in the past, even areas with low flood risk can also be inundated during particularly heavy storms.

Also consider in which parts of the building your businesses equipment and inventory are located. Anything housed on a lower floor, for instance, will be at greater risk.

Where can I get coverage?

Flood insurance is available from the NFIP and some private insurers. However, NFIP coverage can only be purchased through an insurance professional; you cannot buy it directly from the federal government.

Feel free to call us about your options and a review of your property.

Important: Typically, there’s a 30-day waiting period from date of purchase before your policy goes into effect. This is to keep firms from purchasing a policy just before an expected deluge or when it looks like their property may imminently flood.

Limits

Commercial flood insurance premiums can cost a few hundred dollars a month up to several thousand dollars a year. The best way to calculate the amount of coverage you need and what you require from a flood insurance policy is to consult us.

Policies typically provide up to $500,000 of coverage for your building and up to $500,000 for its contents.

You can purchase what’s called excess insurance coverage to rebuild properties valued above those limits. This type of coverage usually includes protection against business interruption.

Think ahead

Don’t wait too long. As mentioned above, most flood policies won’t take effect until 30 days after the purchase, so you can’t wait until a threat surfaces to make this decision.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 – 2023 – BGES Group

12 Ways:

1. We represent GREAT construction insurance programs for New York contractors (we cover the tri-state area).  We have a program that if you fit, can save you up to 50% and provides excellent coverage too!

2. We have programs for low risk contractors i.e. electricians and plumbers to high risk i.e. restoration and asbestos.

3. Our pricing can be up to 35%+ less than other companies.  We saved a NYC restoration contractor $100,000+, an upstate demolition contractor $30,000+, a Queens HVAC contractor $26,000.

4. Unhappy with your Umbrella Liability pricing?  We have a company that   can save you up to 35%+ on pricing.  Coverage is better than most other carriers too!

5. We are “Construction Insurance Specialists.”  Ninety five percent of our client’s are contractors.  We’ve been insuring contractors since 1981 and unlike most brokers who are order takers, we know what we are doing!

6. We understand coverage forms, exclusions, restrictions and warranties.  We obtain quotes from companies that best fit your coverage needs.  Note most brokers DO NOT understand the policies they sell.  They obtain quotes, present them to you with a list of exclusions, BUYER BEWARE!

7. Unhappy with your Workers’ Compensation company?  We have a program that has been around for 20+ years, offers great pricing, coverage and long-term coverage stability.  We also offer every conceivable option available i.e. a program that does not do invasive annual audits…may not have to do an audit at all!

8. We get the job done when others can’t.  We pull off miracles for contractors with bad losses or considered “High Risk” i.e restoration.  IF YOU ARE NOT HAPPY WITH WHAT YOU HAVE CALL 914-806-5853 NOW…WE ANSWER 7 DAYS A WEEK!

9. We offer property, builders risk, inland marine, general liability, umbrella liability, cyber, auto, bid & performance bonds, workers compensation, disability and group health.  We also offer personal lines coverages.

10. We offer quick issuance of certificates.

11. When you call, you get us on the phone in seconds.  When you email we respond immediately.  When you text we text you right back.  You get to deal with a 42 veteran who treats everyone like a “Very Important Person!”

12. We are transparent, straight shooters.   We are “Old School” and have integrity, over time you will trust us because we do what we say and do not bull__it.

Here is What Client’s Say About Us:

Elena E.

My broker, Gary Wallach, is the BEST!  He’s professional and a pleasure to deal with. Always has the answers for me and is quick to respond to my emails and phone calls. This is one reason I remain a loyal BGES Group customer. Good Rates on all my insurance needs too!

Richard L

Gary was very Helpful and Fast. He listened to my complicated insurance problem tried to solve it from different approaches before finding the best course of action for me. He selflessly spent a lot of time making sure that leaving the State Insurance Fund was definitely necessary before using his services. I am 100% happy with his services. I can’t recommend him highly enough.

Lawrence A

Gary is one of a kind broker. He always respond to our emails right away. He always do his best to find the right policy for us. It is a pleasure to work with, he is always there when you need him.

Peter D

Gary Wallach and the BGES Group has been vital in updating and offering continuing coverage for our insurance needs. Gary is always extremely helpful and responsive for any questions that arise. He is always willing to explain and provide updates on what may be needed. We at PDA, Inc. are very grateful for the support that he continues to offer us!

WP Blue

We have been using Gary and his services for over 10 years now. He is absolutely amazing. Always right on top of things. Answers you back quickly and helps you through all your issues! Gets you certificates of insurances within the hour. We can’t recommend him enough!

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 – 2023 – BGES Group

As a bomb cyclone seems to be the new norm every winter in the United States, Fed-OSHA has issued a reminder for workers and their employers to be aware of the hazards associated with storm recovery work and working in cold weather.

Cold and snowy conditions can expose outdoor workers to frostbite, hypothermia and cold stress, all of which can be fatal. On top of that, working in snowy or stormy conditions poses a number of other dangers to outdoor workers, such as more risk of slips, trips and falls, dangerous driving conditions, getting stuck in a vehicle, and more.

As work in these conditions is often harried, safety protocols can easily be overlooked. That’s why it’s important that employers and their workers understand the safety issues they face and mitigate against injury or exposure.

Guarding against exposure

OSHA says employers should monitor the wind-chill temperature to better prepare their employees to work safely.

It is also important to monitor workers’ physical condition during tasks, especially new employees who may not be used to working in the cold, or those returning after spending some time away from work.

Follow these work practices to stay safe in cold weather:

• Know the symptoms of cold stress: reddening skin, tingling, pain, swelling, leg cramps, numbness and blisters.

• Dress properly; wear at least three layers of loose-fitting clothing, insulated gloves and boots, and cover your head.

• Monitor your physical condition and that of your co-workers.

• Stay dry and pack extra clothes; moisture can increase heat loss from the body.

• Take frequent breaks in warm, dry areas.

• Drink warm liquids.

Other dangers

In addition to exposure, there are other winter weather-related hazards that workers may be exposed to, such as falls, slips, exposure, structural collapse, lacerations, struck-by hazards and electric shock.

Dangers facing workers include:

Winter driving — Promote safe driving behavior by ensuring workers recognize the hazards of winter weather driving, for example, driving on snow/ice-covered roads; are properly trained for driving in winter weather conditions; and are licensed (as applicable) for the vehicles they operate.

Work zone traffic safety — Set up work zones with the traffic controls identified by signs, cones, barrels and barriers, in order to protect workers. Workers exposed to vehicular traffic should wear an appropriate high-visibility vest at all times.

Stranded in a vehicle — If a worker is stranded in a vehicle, they should stay in the vehicle and call for emergency assistance if needed. They should notify their supervisor of their situation and not leave the vehicle to search for assistance unless help is visible within 100 yards.

Shoveling snow — During snow removal, in addition to following the tips for avoiding cold stress such as taking frequent breaks in warm areas, workers should warm up before the activity, scoop small amounts of snow at a time and, where possible, push the snow instead of lifting it.

Using powered equipment like snow blowers — Snow blowers can cause lacerations or amputations when operators attempt to clear jams with the equipment turned on. Workers should never attempt to clear a jam by hand.

Instead, they should first turn the snow blower off and wait for all moving parts to stop, and then use a long stick to clear wet snow or debris from the machine, keeping their hands and feet away from moving parts. 

Preventing slips on snow and ice — To prevent slips, trips and falls, employers should clear walking surfaces of snow and ice and spread de-icer, as quickly as possible after a winter storm.

In addition, workers should wear insulated and water-resistant boots with good rubber treads when walking on snow or ice is unavoidable. Keeping a pair of rubber over-shoes with good treads which fit over your street shoes is a good idea during the winter months.

Workers should take short steps and walk at a slower pace so they can react quickly to a change in traction, when walking on an icy or snow-covered walkway.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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

OSHA Tips for Working Safely During Blizzard Recovery and in Cold Weather

There are many issues that can cause setbacks for businesses. Electrical fires can damage inventory and equipment as well as shut down a business temporarily. Customer injuries can lead to lawsuits, natural disasters can destroy property and burglaries can result in thousands of dollars of losses in equipment and valuables.

After any of the above events you’ll have to file a claim with your insurer. But if you aren’t prepared, take too long to file your claim or fail to document all of your losses, you may not receive a full claims payout. You can avoid that by following these tips:

Gather all the information — Before you file a claim, you have to first understand what happened, because the insurer and your claims adjuster will need detailed accounts of the event and circumstances leading up to it.

Look at the insurance policy to see if there are any other necessary steps to take. Some policies include instructions about what to do if certain types of insurable losses occur.

Don’t procrastinate during this time. It’s important that you quickly collect and document all the pertinent information.

File a claim with your insurer — The most efficient way to get your claim started is by contacting the insurance carrier directly.

The best way to get the claim underway is by visiting your carrier’s website and going through their claims process. Many offer a convenient online method, but also provide an 800 number to call if you prefer to speak to someone one-on-one.

Whether you do it online or over the phone, you will be walked through the claims intake process. Be prepared to provide the information you gathered in the first step because your insurance company will need to know all the details about what and when it happened to properly assess your claim.

Most insurers will contact you within 24 to 48 hours after you file your claim.

Inform us of the claim — Once your claim has been started, it’s now time to inform us, your insurance agent. In addition to answering any questions, we can explain your coverage and properly set expectations for what’s to come.

Additionally, if your claim has any complexity or nuance, we will be able to work with the carrier and/or provide useful advice and guidance.

Create an inventory of losses — While you wait for the claims adjuster to contact you or for them to come out to assess the damage, you can work on creating an inventory of your losses.

This is essential for providing a clear picture of the loss or damage. Include descriptions of items, their original values and estimated current values. It is also helpful to include a description about the condition of the item before it was damaged.

If it is possible to photograph the damaged items, take photos for the insurer. Find copies of any receipts for damaged items.

It is also helpful to do a walk-through of the damaged area with a video camera or a cell phone video camera. Videos help show the damage live and from multiple angles. Use them to supplement photo files.

Show proof of the loss — Insurers require policyholders to sign sworn statements that show proof of their losses, and the required information must be sent along with the statement. This statement must be made and signed within 60 days of the insurer’s first request for it.

Make temporary repairs if needed — If temporary repairs must be made to prevent further damage or to protect other assets, they can be completed before the adjuster surveys the property. Do not order any unnecessary repairs.

The only types of temporary repairs that should be made are those that will prevent further damage or prevent a possible liability. For example, a temporary roof repair may be necessary to prevent it from collapsing and injuring people, or a broken window may be fixed to prevent rain from coming into a building and causing water damage.

Since repairs are included in the settlement, keep receipts for any services and items purchased. For contracted work, obtain two written bids from separate companies before hiring someone.

The takeaway

Always stay organized when going through the claims process. Keep all papers accessible, and have information ready in the event that an agent or adjuster calls.

When talking to any repair companies or other related parties on the phone, keep track of calls and the reason for the calls. Save receipts for any items that are purchased in relation to the damage. To learn more about what to do during the claims process, give us a call.

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

BGES Group’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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 year 2022 was one of the most tumultuous climate disaster years in history, a year when we saw the massively destructive Hurricane Ian, an unprecedent number of tornadoes, growing wildfires in the West and a “bomb cyclone” in late December.

And the increasing number of natural disasters is not just a U.S. phenomenon. It’s happening around the world.

According to a report by Swiss Re Institute, the research arm of the reinsurance giant, insured catastrophe damage totaled $115 billion globally for 2022, although total economic losses were much higher at $260 billion.

The increasing frequency and intensity of these natural disasters in the United States, combined with soaring inflation, supply chain issues and labor shortages, is also having a knock-on effect on homeowner’s insurance prices.

There were 15 billion-dollar weather and climate disasters in the first nine months of 2022 alone:

• Southern tornadoes: March 30

• Southeastern tornadoes: April 4-6

• Severe weather in the South: April 11-13

• Western fires: Spring through fall

• Severe weather in the South and Central U.S.: May 1-3

• Hailstorms in north-central U.S.: May 9

• Severe weather in north-central U.S.: May 11-12

• Hailstorms in north-central U.S.: May 19

• Severe weather in Central U.S.: June 7-8

• Central derecho (an inland hurricane): June 13

• Severe weather in north-central and Eastern U.S.: July 22-24

• Flooding in Kentucky and Missouri: July 26-28

• Hurricane Fiona: Sept. 17-18

• Hurricane Ian: Sept. 28-30

• Western drought and heatwave: All year

And just to cap the year off, we had the Christmas bomb cyclone (known as Winter Storm Elliot) that threw a blanket of arctic freeze across large swaths of the country, causing an estimated $5.4 billion in insured losses in 42 states, according to Karen Clark & Co.

There are a few things to note about the list of calamaties. You’ll notice that some of these events were “severe weather” that didn’t qualify as a hurricane or derecho. But these severe weather events are starting to have as much destructive force as these primary perils.

Much of the weather the U.S. is experiencing is more intensive and far-reaching than before. The nature of hurricanes is also changing: these storms have typically caused wind and storm-surge damage, but as they grow wetter, they are now causing more rain and flood damage on top of the other damage.

And hurricanes are bringing flooding far beyond the coasts and into the central parts of states such as in Florida and the Carolinas, according to the Swiss Re report.

Drought is also a serious issue, particularly how it affects wildfires and water supplies. Years of low rainfall and overuse have left the Colorado River a shadow of its former self, resulting in record low levels in Lake Mead and Lake Powell, the sites of two main dams that may soon stop producing electricity for millions of people.

According to the Sept. 27, 2022 “U.S. Drought Monitor” report, about 51% of the contiguous U.S. was in drought, up about 5.4% from the end of August. Drought conditions expanded or intensified across portions of the Mississippi Valley, central and northern Plains, Northwest, Southeast and parts of the Great Lakes.

The fallout

As of this writing, the full-year insured costs of weather disasters in the U.S. had not been calculated, but modelers predict the total property and infrastructure damage would be nearly $100 billion. Through the first nine months of 2022, total losses due to property and infrastructure damage reached $29.3 billion.

Those figures don’t include Hurricanes Fiona and Ian, the latter of which caused an estimated $65 billion in insured damage. Hurricane Ian was the year’s costliest catastrophe and the second-largest insured loss on record after Hurricane Katrina.

These events, plus the cost of repairing and rebuilding buildings and infrastructure also on the rise thanks to increasing material and labor costs, are having a knock-on effect on homeowner’s insurance.

Homeowner’s insurance rates rose 12.1% on average nationwide in 2022 from the year prior, according to Policygenius. However, people living in disaster-prone areas are seeing much higher rates. In the case of Florida and California, some people are unable to find insurance for their homes or face two-, three- or four-fold increases in their rates.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 ongoing labor shortage affecting the construction industry is leading to increasing exposure for contractors due to a number of risks.

Working short-staffed or with employees new to construction can lead to increased workplace injuries, which in turn can result in higher workers’ compensation premiums. It can also result in shoddy work that needs to be redone at the expense of the contractor, or construction defect lawsuits further down the line.

The net seasonally adjusted national construction unemployment rate hit 3.4% in September 2022, down from 4.5% in the same month a year prior, according to an analysis of U.S. Bureau of Labor Statistics data by Associated Builders and Contractors.

In February 2022, ABC estimated that the construction industry needed nearly 650,000 additional workers on top of the normal pace of hiring in 2022 to meet the demand for labor.

Contractors that aren’t operating with a full crew have to contend with the following:

Workplace safety

Studies have found that experienced workers are less likely to suffer workplace accidents than those who are new to the job.

When you add to the mix inexperienced workers, who are not as familiar with safety protocols, the potential for a workplace incident increases exponentially.

Inexperienced employees are also less likely to notice dangerous work practices or safety issues. Being new, they may also be loath to speak up even if they see a problem or are unsure.

They can also be a danger to the public if they are on worksites that are near sidewalks or heavily trafficked areas. A stray beam or other equipment that injures a third party can result in legal action.

Additionally, with a fully staffed worksite, workers and supervisors are better able to identify safety issues that may result in a workplace injury and ensure they are corrected. Key safety practices — such as using a spotter in confined spaces or ensuring that a trench is reviewed for safety by a competent person — may also suffer.

Finally, contractors that are not operating at full capacity may pressure employees to get more done in less time and/or work overtime. That can lead to workers cutting corners and working faster than is safe to get the job done.

Quality and defects

Construction quality can also suffer when a contractor isn’t fully staffed for its workload, especially in projects that are highly repetitive, such as multifamily construction.

If a worker without enough experience or training misunderstands what needs to be done, they can repeat a mistake over and over again.

As mentioned above, overworked employees may cut corners, which can lead to defective workmanship.

When workers make mistakes, particularly if they repeat the error again and again, it can lead to:

• Tearing out their work and redoing it — Depending on the extent of other work that’s done on top of the improperly done work, that can be a small job or a major one that entails ripping out other materials.

• Construction defects — Some mistakes may not be readily apparent, particularly if they are behind walls, under roofs or in areas that are not visible. Those may manifest themselves months or years after a project is completed. Once discovered, the client may file a construction defect claim against the contractor whose employees performed the shoddy work.

What you should do

While getting staffing levels up to meet your demand may be difficult, you should strive to ensure that all new workers are properly trained in how to do their jobs, and in particular how to perform their job safely.

Besides being able to safely do their jobs, they should be trained about other hazards on the job site, including watching out for moving equipment or material and knowing when to ask for assistance of someone to observe their work in hazardous situations.

Before each shift, you should hold a quick safety meeting as well as a longer tailgate-style meeting on a weekly or bi-weekly basis. Even experienced workers need to refresh their safety knowledge, so all of your workforce should be in attendance.

Finally, besides your mandatory workers’ compensation coverage, you should make sure that you have in place construction liability insurance. This common liability coverage protects your business if it’s held responsible for events like property damage, bodily injury or defective work.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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

Businesses have learned a painful lesson over the last three years. An emergency can shut them down with little or no warning. Revenue can evaporate overnight, leaving them grasping to somehow continue operating, cover their ongoing bills and pay employees so they won’t leave.

Property insurance will pay for repairing or replacing damaged buildings and equipment after a fire or hurricane. It will not, however, make up for lost revenue or increased expenses to minimize the business’s downtime.

Fortunately, another kind of insurance exists that will cover those losses: Business income and extra expense coverage.

If an organization suffers property damage from a cause that the policy covers, such as a fire, and it is forced to reduce operations or shut down, business income coverage will reimburse it for the net profit it would have earned during the shutdown, plus necessary ongoing expenses.

The payment will be up to the amount of insurance purchased. The insurance covers the period from 72 hours after the loss occurred to the date that operations should resume with reasonable speed.

The policy may include an additional coverage called “extended business income.” This recognizes that, after a business resumes operations, revenue may not get back to its previous level right away. An extra 30 days’ coverage is standard, but that can be increased.

Extra expense coverage pays some of the increased costs the business may incur to minimize the length of the shutdown. This might include the unexpected purchase of computers and network equipment so that employees can work remotely while the office is repaired, for example.

To see how these coverages might work, imagine a small college that suffers extensive fire damage to two dormitories and an academic building. The displaced students will not pay room and board for living spaces they can’t use.

Students majoring in subjects taught in the damaged building may be forced to transfer (for example, physical science students who cannot access the building where they do labs). Here’s how the different coverages would play out:

Business income coverage — This would help offset the lost room and board revenue and tuition refunds to students who withdraw.

Extended business income coverage — This can help tide the school over until the student census returns to normal levels.

Extra expense coverage — This may cover the cost of quickly setting up remote learning arrangements and renting space from another college for the displaced science students to continue their lab work.

Virtually every kind of commercial enterprise that operates out of a central location needs these coverages. Some examples:

• Farms to cover the extra expense of storing harvested crops elsewhere after damage to their storage buildings.

• Restaurants would need extended business income insurance until their regular patrons get back into the habit of dining there after reopening.

• Manufacturers, particularly if they would take a long period of time to replace production equipment after an event, would need extended business income insurance.

• Theaters and concert halls to replace lost ticket sales.

• Hotels to cover lost ability to offer rooms to customers.

The takeaway

With the uncertainty spawned by the sudden shutdowns after the COVID-19 pandemic started, companies are aware that even one such stoppage can cause their revenues to dry up.

Having business income and extra expense coverage can make the difference between reopening after a disaster or shutting down for good. If you want to know more about this coverage, give us a call.

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

BGES Group’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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 mere mention of a workers’ compensation audit is enough to strike fear in nearly any business owner. For anyone who is scheduled for an audit, there is no need to worry or be fearful. With a little bit of common sense and preparation, much money and aggravation can be spared.

It is important to devote a few hours to setting up preparations. This small step can prevent days and weeks of hassles in the future. Business owners should plan to give their full attention to the auditor throughout the process, which can take several hours from start to finish. For this reason, it is important to make sure the time and date are both convenient. If the audit has been rescheduled or was not set for an appropriate time, call to reschedule it.

Start collecting and organizing the records that show payroll reports and overtime. Make sure insurance certificates and classification divisions are also available. Write up a summary of each one to make explanations easier and to more effectively communicate with the auditor during the process. If information is organized well, this will help expedite the process. The auditor may feel more comfortable in trusting a business owner’s data if all calculations can be reconciled to payroll records.

Prior to the meeting with the auditor, it is also important to make any necessary adjustments to payroll. For example, a business owner might need to subtract bonus pay from overtime pay. Minimum and maximum payrolls will need to be applied to the calculations when applicable. This may take some research, and the amounts will vary from one state to the next. They also vary between types of careers, partners, executive officers and sole proprietors.

Business owners should make sure they understand all employee job classifications and can explain them clearly to the auditor. They should also ensure employees are properly classified for the work they perform. If the auditor has questions or concerns, this can slow the process down considerably. Auditors usually ask about duties and classifications for multiple employees, so being prepared is essential. For help classifying them, discuss the details and any concerns with an agent.

When working with subcontractors, keep in mind that payments made to them will go against workers’ compensation if they did not have certificates. Ask for copies of their certificates, and check them carefully to ensure they are updated and show coverage for the entire time span when the subcontractor was working. After the auditor arrives, all of these preparations will be well worth the time spent. Most business owners are also pleasantly surprised to find that auditors are not the mean individuals they picture them to be. Most auditors are pleasant and fair, and this is especially true when all of the details are in order.

After the audit is finished, politely ask the auditor for a copy of the worksheet. An agent can review it for accuracy. Every person has a legal right to request a corrected audit if any errors are suspected or confirmed. Business owners also have the right to recover any over-payments that were made under the previous three audits.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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

There is a growing threat to companies that use online services to administer their employee benefits and payroll as cyber criminals increasingly exploit these cloud service platforms.

The results of a hacker gaining access to the company’s payroll systems, sloshing with cash, as well as employees’ personally identifiable information can be devastating both to the employer as well as its workers, according to a blog by the law firm McLane Middleton.

Do not assume that the payroll and benefit system you are using has safeguards in place to prevent these types of attacks. Sometimes you may need to activate them on your account or configure your account a certain way.

Cyber criminals that hack these platforms can tap into a gold mine of sensitive information about employees and their dependents, including:

• Social Security numbers

• Government identifications and numbers

• Bank account information for employees and dependents, and

• Health information.

The other vulnerability is the funds that go through these accounts. Large sums of money flow through a number of transactions for:

• Payroll

• 401(k) and other retirement accounts

• Health insurance, and

• Other benefits.

As you can see, these online payroll services have a rich smorgasbord of data and they facilitate numerous large financial transactions. For criminals, that’s a treasure trove.

Successful attacks on online benefits and payroll services can result in huge losses as well as liabilities for an employer. And worse yet, the damage is manyfold:

• The criminals can divert large financial transactions like payments to retirement funds and smaller ones like payroll payments, to a fraudulent account, which they promptly drain.

• The criminals steal personal information of employees. They can then demand the employer pay a ransom in exchange for not selling the information on the dark web. If the employer refuses to pay, they can demand individual employees pay a ransom.

What you can do

Often hackers will gain entry to a benefits and payroll website not through any fault of your own. So, it’s important that you choose a system wisely.

McLane Middleton recommends that you should look for online benefits and payroll platforms that value security and protect their clients’ accounts with the following:

Multi-factor authentication — Besides a password, a platform worth its salt will include multi-factor authentication. Typically, that entails sending an authentication message to a pre-specified e-mail or mobile phone number that can accept text messages every time there is a log-in attempt.

Other systems may use certificates that the employer installs only on computers used by employees who are authorized to access the platforms.

Multi-user notification and authorization — This entails notifying key personnel if an employee’s profile information (such as physical address, phone number or bank account number) is changed inside the payroll or benefit system. The website would then send an e-mail to a secondary person in the organization to approve the change by logging into the system.

Different levels of access privileges — One common approach is for hackers to target employees in your organization with administrator access to your benefits and payroll system. All of the employees that use the system often do not need access to all of it.

You can limit access of your human resources staff to only those functions necessary for them to do their jobs. This prevents them from accessing files and information they have no business seeing.

Logs of access and activity — If possible, try to find a vendor that has log files that can record dates and times of a breach, what the cyber criminals were doing in the system and what data they accessed and downloaded.

The takeaway

If you are using an online platform to administer your benefits and payroll, you should ensure that the vendor is taking the appropriate steps to protect itself, and you, from cyber attacks.

You may want to discuss with your vendor what kind of security they have in place and any extra steps you can take as an organization to reduce the chances that information and funds in your accounts are safe from abuse.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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 ransomware and other cyber attacks increasingly hobble victim company’s ability to operate in the wake of an attack, more cyber insurance policies are including business interruption coverage.

When these policies first hit the market, they were mostly focused on covering the costs of notifying individuals whose personal data or credit card information may have been exposed, to any regulatory penalties and other compliance costs.

But many companies, when hacked, suffer far more damage to their operations, including websites or important systems being rendered unusable.

The larger danger to companies seems to be system failures resulting from a variety of novel attacks, including;

• Denial of service

• Brute force (an attack aimed at obtaining passwords)

• Malware or malicious code

• Ransomware

• Backdoor attacks

• Social engineering.

Business interruption policies have traditionally covered loss of income caused by disruptions in supply chains and events like a fire or natural catastrophe that render a business unable to operate.

But, property policies or traditional business interruption policies do not cover income loss from a cyber attack since these policies are only triggered after a direct physical loss or damage.

Meanwhile, for cyber business interruption coverage to be triggered, there must usually be a direct link between a cyber attack and the interruption of business or a loss of sales. For example:

• Criminals lock a company’s computer systems and demand that the company pay a ransom to restore its data. The company may lose income when it can’t use its systems and even when it is trying to recover after paying a ransom.

• A denial-of-service attack renders a website inaccessible to customers and users.

Typical business interruption provisions in cyber policies

• The policy will include a maximum payout for business interruption claims. The cap may apply to each individual event or it may be an annual limit.

• Policies may include a separate deductible for business interruption claims.

• Policies may include a specific waiting period of hours or days before it kicks in to pay a claim. If the event causes losses or a disruption that lasts less than the waiting period, the claim would likely not be paid.

• Policies usually will only pay for business interruption during the period that the company is restoring its systems and getting things running again.

• Coverage usually includes exceptions, like not covering third party liability, fines and penalties and the costs of restoring a network.

• Most policies include exclusions, like loss of market share or damage to computer systems caused by fire or other physical events that were not related to a cyber attack.

For more information, please call us. We are happy to answer any questions you may have.

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 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer. 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