Do Contractors and Landlords need Action Over Coverage?
Posted: March 10, 2017
third-party-over action A type of action in which an injured employee, after collecting workers compensation benefits from the employer, sues a third party for contributing to the employee's injury. Then, because of some type of contractual relationship (Risk Transfer Agreement) between the third party and the employer, the liability is passed back to the employer by prior agreement. It is particularly important that New York Property...
Valuable Articles Coverage
Posted: January 10, 2017
3 ways Homeowners can cover Jewelry, Furs, Silverware, Musical Instruments, Fine Arts, Coins Stamps, Golf and camera equipment, firearms and other collectibles. A standard Homeowners policy has limitations on these items along with limits away from the premises. Coverage can be enhanced the following 3 ways. 1- Itemized Agreed Value Coverage- Available only for Jewelry with this coverage each piece is listed individually with its own...
Does your business need cyber liability coverage?
Posted: December 13, 2016
Does your business need cyber liability coverage?More often than not the answer is YES! Cyber and privacy policies cover a business' liability for a data breach in which the firm's customers' personal information, such as Social Security, email addresses or credit card numbers, are exposed or stolen by a hacker or other criminal who has gained access to the firm's electronic network. The policies cover...
Fidelity Bonds
Posted: October 21, 2016
Employee Dishonesty Bonds—also known as Crime Bonds—are used by business owners to guarantee money, securities, and property against loss caused by employee dishonesty such as embezzlement. While called bonds, these obligations to protect an employer from employee-dishonesty losses are really insurance policies. These insurance policies protect from losses of company monies, securities, and other property from employees who have a manifest intent to cause the company loss....
NYSIF Safety Groups
Posted: April 29, 2013
A safety group is a loss sensitive insurance program that enables employers in the same industry to pool their insurance premiums with the goal of reducing the cost of workers' compensation insurance. It gives small and medium sized employers the opportunity to participate in the type of program that is usually reserved for much larger employers. A NYSIF safety group operates on the same principle...
