Ask any championship sports team what the secret to its success is, and “teamwork” will likely be at the top of the list. It’s the same with highly successful businesses; they wouldn’t be where they are today without a great deal of coordination and teamwork.
For decades, a heated battle has been raging over New York’s Labor Law 240, also known as the scaffold law. The law holds contractors and developers 100 percent liable for the costs of any gravity-related accidents that they’re at least partially at fault for.
When it comes to workplace accidents, every incident deserves your attention. Even a near miss can be a symptom of an underlying safety issue – one that could lead to a serious accident in the future. So it’s vital to get to the root cause of every unsafe occurrence, regardless of whether an injury is involved. Among other things, a thorough accident investigation is crucial to:
If you’re like many business owners, you’re wondering what 2014 holds in store. Unfortunately, predicting how the economy will treat your business in the coming year is about as certain as predicting our winter weather. Fortunately your business insurance rates should be somewhat stable!
Tags: construction insurance, New York construction insurance, new york business insurance, New York workers compensation insurance, excess liability, New York contractors insurance, new York professional liability insurance, builders’ risk
In this age of instant everything, it’s no surprise there are companies offering quick background check services. And with many industries still in a hiring slump, these vendors are expanding their services. In addition to drug testing, credit reports, court records, and state and federal criminal records, companies such as LexisNexis, HireSafe, and Talentwise are adding workers’ compensation background checks to their menu of services.
As a contractor, your CGL policy is one of the most important purchases you’ll make. It’s at the heart of your New York construction insurance and risk management program, and it creates the foundation for coordinating coverage with any necessary additional policies such as Builder’s Risk, Umbrella/Excess Liability, Professional Liability or Contractor’s Pollution Liability.
Every year the insurance industry deals with fraud to the tune of about $80 billion, according to the Coalition Against Insurance Fraud. That’s more than twice the gold in Fort Knox and enough to fund the U.S. space program for five years! And according to the National Insurance Crime Bureau, workers' compensation fraud alone accounts for $5 billion of that liability each year.
Running a business requires you to navigate a minefield of variables and uncertainties beyond your control. But even among your challenges, there are some things you can count on:
As the commercial insurance market continues to tighten, the construction industry continues to be among the hardest hit, especially here in New York.