In New York, workers’ compensation insurance is designed to protect both employees and employers from the financial impact of workplace injuries and illnesses. It provides two essential types of coverage:
1. Medical and Wage Replacement Coverage
This primary coverage, often referred to simply as “workers’ compensation,” pays for medical expenses, rehabilitation costs, and a portion of lost wages for employees injured or made ill due to job-related activities. This coverage is mandatory in New York, ensuring that employees have access to necessary medical care and wage replacement without having to bear the costs themselves.
2. Employers Liability Insurance
Employers Liability is a crucial yet often overlooked component of workers’ compensation policies. While standard workers’ comp covers direct medical and wage costs for injuries or illnesses, Employers Liability protects the employer against lawsuits from employees or other third parties. Here’s how Employers Liability coverage works and the types of claims it could protect against:
What is Employers Liability Insurance?
Employers Liability insurance covers the employer in situations where an injured employee, their family members, or even third parties bring a lawsuit against the employer for damages related to a workplace injury. Without this coverage, employers could be financially responsible for legal fees, settlements, or judgments.
Types of Claims Covered Under Employers Liability Insurance
Here are several types of claims Employers Liability insurance may cover:
• Third-Party Over Claims: This occurs when an injured employee sues a third party (such as a contractor or equipment manufacturer) who then brings a claim against the employer, alleging that the employer’s negligence led to the injury.
• Loss of Consortium Claims: If an employee is severely injured and cannot maintain a spousal relationship due to their injury, their spouse may file a loss of consortium claim, alleging that the employer is responsible for the impact on their relationship.
• Dual Capacity Claims: This occurs when an employee is injured due to a product manufactured by their employer and files a lawsuit against the employer in their “capacity” as the product manufacturer, separate from their role as an employer.
• Consequential Bodily Injury Claims: Family members of an injured employee may file claims if they suffer an injury or illness as a consequence of the employee’s original injury, such as stress-induced health issues resulting from the impact on family life.
• Intentional Tort Claims: In cases where an employer’s deliberate actions cause harm to an employee, Employers Liability coverage may respond. However, coverage can vary as some intentional acts may not be covered depending on policy terms.
Employers Liability is crucial for any New York business, as it provides additional layers of protection beyond the basic workers’ compensation requirements. This coverage helps protect the employer from potentially costly lawsuits and provides peace of mind in knowing that these situations are covered.
How BGES Group Can Help
At BGES Group, we specialize in workers’ compensation insurance and are committed to helping Tri-State area employers understand and secure comprehensive coverage to protect both their employees and their business. We offer personalized guidance to ensure that you have the right coverage in place, including essential Employers Liability insurance.
For more information, contact Gary Wallach at BGES Group. Reach him by phone at 914-806-5853 or email at bgesgroup@gmail.com. Let us help you safeguard your business and employees with the best possible workers’ compensation solutions.
BGES Group is one of New York, New Jersey, and Connecticut’s Construction Insurance Specialists representing 50+ companies, including all the BEST general & umbrella liability programs. We offer all the coverage needed, including property, builders’ risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability, and group health. Our commitment to you goes beyond the policies we provide. We are always just a call, text, or email away, ready to assist you, even on weekends. We understand the importance of your business and are here to help you navigate any insurance challenges.
BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being canceled, losses causing difficulty getting coverage, in the middle of an audit dispute, misclassified payrolls, or whatever your issue. We can help! We have special programs for Auto Services, Contractors (especially in New York), Limousine Services, Logistics Companies, Manufacturers, Recyclers, and Truckers; we can help ANY tri-state business owner. We are considered “Preferred Agents” for this one program that, if we can get you into, their pricing is excellent, offers long-term coverage stability, and can cover multi-state operations. The program takes the hassle out of doing annual audits, too.
If you want to speak with us, call Gary Wallach at 914-806-5853, click here to email, or visit our website.
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538
email: bgesgroup@gmail.com
website: http://www.bgesgroup.com
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