Unlocking the Best Workers’ Compensation Options for Your Business

When it comes to running a business in New York, New Jersey, or Connecticut, ensuring proper workers' compensation coverage is crucial. Many business owners, especially contractors, often believe the only option available is a state or assigned risk plan. However, BGES Group is here to reveal the wide range of options that can better suit your needs while saving you money and hassle.

Traditional Workers’ Compensation Policies: The Standard Route

Most business owners are familiar with standard workers' compensation policies offered by insurance companies. These "stand-alone" policies provide guaranteed rates for one year, with fixed monthly premiums. To secure coverage, companies typically require a deposit of up to 25%, with another deposit due upon renewal.

Some insurers also offer pay-as-you-go plans, where premiums are based on actual payroll. This flexibility benefits businesses with fluctuating payrolls, ensuring they only pay for the coverage they need. While this route works for many, it’s far from the only option—especially if your business falls into a higher-risk category.

Payroll and Workers’ Compensation Plans: A Hidden Gem

One lesser-known yet highly effective option is a payroll-integrated workers’ compensation plan. BGES Group partners with a company that has successfully offered this program for over 24 years. What makes this plan unique?

1. Long-Term Stability: With more than two decades of proven success, this plan offers reliable, stable coverage—an essential factor for contractors and other high-risk businesses.
2. Coverage for Riskier Industries: Unlike many insurers, this program can cover demolition contractors, roofers, auto services, limousine services, and truckers.
3. Simplified Payments: Premiums are deducted from payroll, making budgeting easier and eliminating large deposits.

Other payroll companies also offer workers' compensation, but they often work with conservative insurers that avoid high-risk businesses. Additionally, some add hidden fees, inflating the overall cost. That’s why it's essential to work with experts like BGES Group to find the right fit.

Professional Employer Organizations (PEOs): A Lifeline for Challenged Businesses

If your business has poor loss experience, high experience modification rates, or past coverage cancellations, Professional Employer Organizations (PEOs) can be a game-changer. PEOs combine payroll services with workers' compensation coverage, operating as co-employers. This structure allows them to offer competitive rates and extensive provider networks.

PEOs can also bundle health insurance, providing an affordable option for businesses seeking comprehensive employee benefits. For those struggling to secure coverage through traditional means, PEOs offer a practical, often cost-effective solution.

Solving Common Workers’ Compensation Challenges

Business owners often encounter obstacles when seeking or maintaining workers' compensation coverage. BGES Group specializes in addressing these challenges head-on. Here’s how they can help:

1. High-Risk Business Categories: From asbestos abatement to roofing, BGES Group works with up to 25 companies to secure coverage for high-risk industries outside state plans.
2. Poor Loss Experience: For businesses with significant claims, BGES Group has access to specialty programs that provide coverage despite past losses.
3. Audit Disputes: When audits result in unfair premium increases, BGES Group helps correct mistakes and find new coverage if necessary.
4. Avoiding Annual Audits: Depending on your state and plan, they can find programs with minimal audit requirements.
5. Misclassified Payroll: If your payroll has been incorrectly classified, BGES Group ensures proper class codes and rates—even securing refunds for past overpayments.

Real-World Success Stories

BGES Group has a proven track record of helping businesses overcome significant hurdles. Two cases involved contractors with over $1 million in losses. These contractors faced astronomical premiums and limited coverage options. Thanks to BGES Group’s specialized programs, both secured new policies with better rates.

In another case, a contractor faced cancellation due to an audit dispute. The insurer demanded $41,000—an amount the contractor didn’t actually owe. BGES Group stepped in, resolved the dispute, and secured new coverage, preventing a costly lapse.

Navigating Multi-State Coverage

For businesses operating across state lines, ensuring proper coverage in each state is critical. BGES Group recently assisted a New York-based contractor who performed all their work in Connecticut. Despite their out-of-state operations, their existing policy didn’t cover Connecticut claims—a potential financial disaster waiting to happen. BGES Group swiftly corrected the coverage, protecting the business from significant liability.

Similarly, New York contractors working in New Jersey often face gaps in coverage. If an employee is injured in New Jersey, a New York policy typically won’t cover the claim. BGES Group ensures comprehensive, multi-state coverage, eliminating this costly oversight.

Why Choose BGES Group?

What sets BGES Group apart? It’s not just their expertise—it’s their commitment to exceptional service. When you call, you get Gary Wallach directly—no automated systems, no delays. Emails and texts receive prompt responses, and certificates of insurance are issued within minutes.

Unlike many competitors, BGES Group avoids excessive fees. While some brokers charge up to $10,000 in policy fees or 10% service fees, BGES Group prioritizes affordability, ensuring clients keep more of their hard-earned money.

Comprehensive Services Beyond Workers’ Compensation

While workers’ compensation is a specialty, BGES Group offers a full suite of insurance services, including:

• Property and Liability Insurance
• Umbrella Liability Coverage
• Business Auto Insurance
• Bid & Performance Bonds
• Inland Marine Coverage
• New York State Disability Insurance
• Group Health and Life Insurance
• Identity Theft Protection

Contractors benefit from tailored risk management programs, subcontractor screening, and strategies to lower insurance costs. With access to over 60 insurance companies, BGES Group ensures every client receives the best possible coverage.

Get the Right Coverage Today

Don’t let workers' compensation challenges jeopardize your business. Whether you're facing high-risk classifications, audit disputes, or multi-state coverage gaps, BGES Group has the expertise and resources to find the right solution.

Call Gary Wallach at 914-806-5853 today—day or evening, Monday through Sunday—and discover why BGES Group is the trusted partner for businesses throughout New York, New Jersey, and Connecticut. Protect your business, your employees, and your bottom line with the best workers’ compensation solutions available.

Email: [email protected]

Website: www.bgesgroup.com