Four (4) Big Problems With Workers Comp Policies. One Can Knock You Out of Business if Not Addressed!

What a Difference a Rate Can Make 

If you are a carpenter would you rather your rate be: $25.10, $23.85, $21.65 or $19.93?  

If you are a roofer would you rather your rate be: $34.94, $33.20, $30.13 or $27.74? 

If you are a limousine service would you rather your rate be: $14.81, $14.08, $12.78 or $11.76? 

Each workers compensation company has their own rates. Each company has their own credit formulas. If you are a contractor, limousine service, local trucker, auto service or manufacturer we have a great program that offers: pricing, coverage and First Class service. Want better than what you now have? In minutes we can show you. 

To Speak With Us Call 914-806-5853 or click here to email or click here to visit our website. 

Working out of State? Have The Right Coverage?  

A common mistake buying coverage thru a state plan is when you have employees working out of state. This creates a very serious uncovered financial exposure. One that can knock you out of business! For some companies it has!  

Because we are from New York, we want to talk about their plan. It typically covers claims that occur and are filed in New York. It also covers employees working out of state if work is “temporary in nature.” “Temporary in nature” has been defined as in transit through another state or working 2 or less days in another state.  

Now you own a construction company. You get a job in New Jersey that will take 3 months. While working at the job site an employee hurts their back and files claim. He then hires an attorney. Employee happens to live in NJ so he decides to seek medical care in his home state. You will NOT have any coverage if thru NY state plan and could be looking at hundreds of thousands in uncovered medical/loss of wage costs, lawsuits and state fines. If you have people working out of state, regardless of what your workers compensation premium is, you cannot risk being uncovered.      

Employees are entitled to select the jurisdiction they wish to file their claims based on these three basic principles: 

1. An Employee is entitled to file a claim in the state their work is principally localized 

2. An Employee is entitled to file a claim in the state where they were injured 

3. An Employee is entitled to file a claim in the state where they live. 

In most cases, the state is the same for all three. For example: An employee’s job is principally localized in the state of New York, he lives in New York, and he was injured in New York. In this scenario, the injured worker’s only available recourse is to file his claim in New York. 

However, consider this alternate example: An employee’s job is principally localized in New York, he lives in Connecticut, and he was injured in New Jersey. In this case, the employee could file his claim against the employer in any one of these three states. 

We had a case where the projected medical costs in NY were $79,000. Projected medical costs in NJ were $310,000. Employee elected coverage in New Jersey. 

Example of Uncovered Claim:   A Staten Island roofer has a job in Teaneck, NJ. Job is for replacement of a roof, will take 2 1/2 weeks. Policy is thru NY state plan (could be a regular carrier’s plan that only covers NY.)  On fifth day employee falls off roof and is paralyzed. Employee elects coverage in NJ.  Medical bills amount to over $1 million. Employer's workers compensation company declines claim because accident occurred in NJ and they only cover NY. Employer is legally responsible for claim.   

To Speak With Us Call 914-806-5853 or click here to email or click here to visit our website. 

So Many of You Overpay Because Your Audits Have Mistakes  

We know this is a stupid question but how many of you think your insurance company’s auditor has your best interests at heart? We cannot believe how many audits are incorrect. Not applying payroll caps, misclassifying employees, charging for subcontractors that have insurance, creating phantom payrolls, the list goes on. 

There IS a way for you to take back control and we can show you how (see below). Most of you are not aware. Worker’s Compensation is a major expense. Why not use the rules in place to favor you, not your insurance company?  

If we could show you a program that gives you major control, allows you to properly classify payrolls, applies payroll caps automatically, you are not charged for phantom income, you are not charged for insured subcontractors, you do not have to fight with your company’s audit department, would you like this?    

To Speak With Us Call 914-806-5853 or click here to email or click here to visit our website. 

Have You Had Questionable Claims Causing You Pricing and Coverage Problems 

These past few years we have seen some employer’s workers compensation premiums skyrocket because of a few bad apples. There are people in this world that try to use workers compensation as their meal ticket. Some have been very successful at the cost of wreaking havoc on their former employers premium and coverage.  

We had a contractor who had two B.S. claims amounting to $500,000. The company that insured him increased his premium from $100,000 to $284,000. He hired private investigators and had employees watched. One who claimed he couldn’t work was working for another company. One who walked with a cane and couldn’t hear could hear pretty well when a woman approached him and started flirting with him. He also lost the cane. 

The system would not help this contractor, even with proof. Luckily we could. 

We have a program that can insure you even with poor loss experience. We secured coverage for a contractor that had $1.3 million in claims. They were paying $400,000, our pricing was $200,000+. We had a demolition contractor who had $2.5 million come to us for help. We obtained a quote.  

To Speak With Us Call 914-806-5853 or click here to email or click here to visit our website. 

Problems We Can Help You With: 

1. Rates too high?  We have programs whose rates can be up to 40% lower than what you now pay.                                                                                                                              

2. In the middle of an audit dispute?   Being told pay or be cancelled?  Company charging you for uninsured subcontractors? We can help you with audit disputes as well as give you a back-up plan just in case you need one. 

3. Now without coverage?  We can help you get worker’s compensation even if you’ve been without coverage for months.

4. Classified incorrectly? – In a higher rated class code and your company wont budge? There are some companies that if your i’s are not dotted and t’s crossed will take all your payroll and throw it into the highest rated category. They have no interest in showing you what to do. They want you to pay as much as possible. With us, we know the rules and will help you properly classify payrolls so you don’t overpay.

5. Working in multiple states?  If you’ are with a company that can only cover your home state (usually state or assigned risks plans) yet you work in other states, you may have a big uncovered financial exposure. Our programs can cover you in multiple states.

6. Poor loss experience? – Had some bad luck lately? We’ve helped accounts with claims totaling $500,000, $1,300,000 and over $2,000,000 obtain coverage. These days we are seeing more questionable claims. If you need help, give us a call.

7. Is your Agency’s service poor? Can you get someone on the phone when you need to? Do you speak to a different person every time you call? When you send an email does it take days before you hear back? Is your agency charging you a 10% service fee yet doing nothing? With us you’ll speak to one person who will immediately answer your call. We do not charge service fees.

8. Have your Worker's Compensation with a payroll service who is NOT transparent with their rates?  This should not be the case. Some companies charge you for everything so if you're not scrutinizing your bills you could be paying a lot more than you think. Let us help figure what you are paying so you're not overpaying. 

9. High Experience Modification Factor? - Let us do an analysis and try to lower it.  Won't cost you anything. Maybe we can get you money back, thousands, tens of thousands.   

10. Whatever your issue we can help. Even though we have not mentioned the issue of concern know we can help.   For 37 years we have specialized at Worker's Compensation. Helping you is our #1 priority. We are frugal when it comes to YOUR money. We do not charge service fees (unless the insurance company we use does not pay us a commission). We want to understand your needs, your issues, and work together to help.   

BGES Group’s office is a full service agency offering funding, property, liability, umbrella liability, auto, bid & performance bonds, inland marine, worker’s compensation, New York State Disability and health insurance coverages too.   

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 to.  

New Jersey & Connecticut Contractors:  We have an extremely competitively priced General /Excess Liability program. You want to lower these costs, get a quote today! Call Gary Wallach at 914-806-5853 or click here. 

To Speak With Us Call 914-806-5853 or click here to email or click here to visit our website. 

https://www.bgesgroup.com or https://www.workerscomp.store

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

e-mail: [email protected]