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EPL Insurance in the workplaceBusiness InsuranceEmployment Practices Liability Insurance

#MeToo and EPL Coverage

#MeToo and EPL Coverage   Since the #MeToo movement started in October of 2017, many powerful predators and employers have been brought to justice and been rightfully punished for not only preying on their employees, but for violating laws regarding discrimination and wrongful termination. While this is a great improvement for people in the workplace, some business owners feel they might be at risk for being sued because an employee might file a suit believing they were terminated or not hired based on sex – a clear violation of Title VII of the Civil Rights Act of 1964. In the…
January 10, 2020
Business Insurance

New York State Paid Family Leave Update

On August 31st, New York’s Department of Financial Services (DFS) published the NY Paid Family Leave (PFL) rate for the 2019 calendar year. For 2019, the maximum contribution rate for Paid Family Leave will go from 0.126% to 0.153% of the employee’s gross annualized wages capped at the new annualized New York State Average Weekly Wage (NYSAWW) of $70,569.72* per year (learn more here);  which translates to a maximum annual premium contribution of $107.97 per employee. The rate for Paid Family Leave has been increased 21.4%. This takes into consideration the increase of benefits for 2019 which has also been confirmed as part of the rate announcement. …
September 6, 2018
Business Insurance

New York Paid Family Leave

New York Paid Family Leave Commences New York Paid Family Leave has officially begun (Jan. 1st 2018). But...what is it? I've talked to a large number of employers and an even larger number of employees who have no idea what it is. Like most insurance coverage, understanding New York Paid Family Leave seems like a daunting task. However, after a thorough review, I can tell you, it isn't. What is New York Paid Family Leave? New York Paid Family Leave is a mandatory benefit for non-public employees. It provides wage replacement when temporarily leaving work for a specific life event.…
January 29, 2018
Example of a an employee getting injured and needing workers compBusiness InsuranceWorkers Compensation

What does workers comp insurance do?

Question 100 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/zicjRLQFXZI Workers’ Compensation is typically the largest part of a business’s insurance expense. It applies to workers who are injured or become ill due to their job function or environment. It also compensates for lost wages. The wages are replaced up to a certain percentage amount. There is a seven-day waiting period in order to do that. It is not the same as short-term disability. Short-term disability covers for injuries and sicknesses that occur away from one’s employer. Workers’ Compensation also covers unlimited amounts of medical expenses that happen…
November 14, 2017
Business InsuranceBusiness Owners Insurance

How does Co-insurance work?

Question #96 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/nO5TC2tCW2c Coinsurance on a commercial insurance policy in New York can have a serious impact on any partial or total loss. This is a critical element in the insurance policy that can not be overlooked. Please review this video explanation so that you do not get caught blindsided.
November 10, 2017
Business InsuranceCommercial Endorsement

What is Mechanical & Electrical Breakdown Insurance?

Question 93 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/9UcPkHUTw1A Restaurant refrigeration suddenly ceases up and quits overnight due to a power surge. Equipment is damaged, food is spoiled, and you have to close for 3-days.  You've lost income, your staff has lost pay, inventory must be replaced, and the refrigeration needs replacing. Typical business insurance policy...what happens? Watch this brief video explanation to learn more.
November 7, 2017
Business InsuranceGeneral Liability Insurance

How does Completed Products and Operations liability work?

Question 88 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/-c4Lv31AEE4 If you've ever delivered a product back to a customer after you've worked on it, or built something new for them, what would happen if you forgot to tighten the last screw? What if as a result someone was injured? How would that work on your insurance policy? Take a look at this brief video to learn more.
November 2, 2017
Business Insurance

Does a new business have difficulty getting insurance?

Question 87 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/JnMoP7GJV2c When beginning a new business there are many things that an owner must do. Many times the setting up of the insurance plan is an afterthought. However, this is something that should be met with extreme detail and coordination. This is the tool that will ensure your new business stays open. Getting a new policy might not be as difficult as you think.
November 1, 2017
Business InsuranceWorkers Compensation

Do I need to list non W2 employees on a New York Workers Compensation policy?

Question 78 in 100 Insurance Questions in 100 Days Video Series? https://youtu.be/YVCCAMaWYiw As a business owner, having to figure out who to put on a workers compensation policy and who not to, is probably not your idea of a good time. However, in New York state we have some rules (surprise) and those rules say that if you are paying someone, they'd better be listed. The cleaner of your office, the person you hired for social media, the outside sales person, and more, could end up needing to be accounted for. See this brief video explanation for more.
October 23, 2017
Business InsuranceWorkers Compensation

Do business owners have to be listed on New York Workers Comp?

Question 76 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/GlJl7reOehA As a business owner you might not see a need to insure yourself on a Workers Compensation insurance policy. It boils down to whether you want to cover for lost wages if you become hurt on the job. Insuring yourself will be more expensive and most carriers have a minimum payroll number they use for owners. Check in with us for additional insight.
October 21, 2017
Business InsuranceBusiness Owners Insurance

What is off premises utility interruption coverage?

Question 75 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/oDx02W4BinQ   If you are a New York State business owner this is a must. If you were to lose power, or have no water, or be without heat...what would that do to your business? Would your sales suffer? Would you potentially have to cut hours for your staff? I assume that in order to operate you would need those utilities to be running smoothly. Sometimes there is a lengthy outage, and your business insurance policy can be the place to look to see if you might not have…
October 20, 2017
Business InsuranceCommercial Endorsement

Is there insurance to cover breaking something of my customer’s?

Question 68 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/-Wjoz2GoW9M With something called Voluntary Property Damage protection, you would have insurance for the accidental breakage or destruction of a client's property. However, this is not always a given in the policy and when it is, the limits can be lower than you might like. Watch this video to learn more!
October 13, 2017
Business InsuranceShort-term Disability Insurance

Can you get your staff more than the paltry $170/wk in New York short-term disability?

Question 67 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/MXbSomOlMnU I don't know about you, but I would not be able to survive on $170/wk. even without kids and a wife. If I were to become injured or sick and not be able to work for a few months, and that was all I had to live off of...things would get ugly. However, many small business owners do not realize how simple and inexpensive it is to bring that $170 up to an amount more in line with what the typical person's expenses are. Watch this video to…
October 12, 2017
Business Insurance

What is key man insurance?

Question 62 in 100 Insurance Questions in 100 Days Video Series! https://youtu.be/PGCTOmrwglY When a small business has an employee that they rely on for their expertise, sometimes the sudden death of that person can be catastrophic. This is why key man insurance is so critical and can be a huge asset to the organization. Watch the video for more.
October 7, 2017
Business InsuranceBusiness Owners Insurance

How does Fire Legal work?

Question 57 in 100 Insurance Questions in 100 Days Video Series. https://youtu.be/G-rXNGJfXEs As a business when you rent space, you are liable for what damage occurs within it. However, the portion of your policy that covers general liability excludes damage done to your specific space. The fire legal section of your policy is what covers your liability to the building owner. Without it, or without enough, you'd be on your own for the cost of damages to your space. Watch this brief explanation for more.
October 2, 2017
Business InsuranceCommercial Endorsement

What is blanket coverage?

Day 53 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/63x-LSo7N9U There are 2 ways you can insure your property: Separate Together While number one is pretty common, number 2 is a little unusual. When we insure our business property and our building on the same policy (typical) sometimes there is an option to put them together. Doing so creates one master amount referred to as blanket coverage. It can all be used on the business personal items, or just the building, or a combination of the two. See the video to learn more.
September 28, 2017
Business InsuranceCyber Liability Insurance

Should a small business buy data breach insurance?

Question 36 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/OJXBNRwyuvE If you have a small business that collects even the least amount of personal information on your customers, then this is a video you might want to watch. Now with Equifax added to the list of serious data breach events, your small New York business could be just a few clicks away from a financial and social collapse.
September 11, 2017
Business InsuranceEmployment Practices Liability Insurance

Should a business owner carry sexual harassment insurance?

Question 30 in 100 Insurance Questions in 100 Days Video Series. https://youtu.be/c9wyxU0saZc As a business owner, you are subjected to all of the missteps of not just yourself, but your employees and anyone else who sets foot on your property. Employment Practices Liability Insurance (E.P.L.I.) is a category of coverage you want to rank at the top when putting together your insurance portfolio. See the video and learn how this important coverage can shield your New York business from lawsuits stemming from sexual harassment, wrongful termination, failure to promote, breach of employment contract, and more.
September 5, 2017
Business InsuranceShort-term Disability Insurance

Does my business need short-term disability insurance?

When do we have to offer New York short-term disability benefits? https://youtu.be/B4iVajCYvCE New York short-term disability insurance is a required benefit. Anyone who runs or operates a business with employees must carry it. It provides a temporary benefit for anyone who becomes injured or disabled off the job. Unlike workers’ comp, where you end up getting hurt or ill due to something that happens while at work, this is coverage for anything that happens to you pretty much anywhere at any time. Rules for New York short-term disability Basic coverage equals 50% of the employees weekly pay. However, $170 per…
August 22, 2017
Business InsuranceProfessional Liability and E&O

Are General Liability and Professional Liability the same thing?

Question #8 in 100 Insurance Questions in 100 days! https://youtu.be/QOFZ8fd71pc The primary reason for professional liability coverage is that a typical general liability insurance policy will only respond to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employer's, public and product liability. However, various professional services can give rise to legal claims without causing any of the specific types of harm covered by such policies. Common claims that professional liability insurance covers are oversight, violation of good faith and fair dealing, and inaccurate advice. While many types of businesses will carry this…
August 14, 2017