As a contractor, you know how crucial it is to have the right tools and equipment for every job. It can mean the difference between finishing a project on schedule and suffering costly delays. And since your tools and equipment are among your biggest expenses and most valuable assets, it’s just as crucial to have the right contractors’ equipment insurance to protect them.
New York employers pay some of the highest workers’ compensation costs in the nation. And rates have risen dramatically over the last six years, driven by increases in maximum benefits, rising medical costs, growing scheduled loss of use awards, seemingly endless litigation, and a slow and inefficient implementation of reforms intended to control costs. When you add in the cost of complying with increased regulation and the costs associated with fraud, it’s easy to understand why so many businesses struggle with this drain on their bottom line.
Out of all the risks you face in your construction business, your vulnerability to a cyber attack probably isn’t at the top of your list. After all, you’re not likely selling products and services over the Internet like a retail store, so why would you think about including cyber liability insurance in your New York construction insurance coverage?