This key coverage can either be combined with a BOP or obtained as a stand-alone policy. Food and DrinkLearn about New York restaurants, bars, liquor stores commercial insurance coverages. See how food service insurance help protect against accidents, oversights and lawsuits resulting from business operations. In our litigious society, more and more businesses are being sued due to issues like libel, slander, property damage, and bodily injury, just to name a few. Apart from that, businesses can be sued even when they have not done anything wrong. That is why your business requires New York general liability insurance protection.

Simply start a quote online or call us to speak directly with a licensed agent. Businesses in New York are required to have workers’ comp insurance if they have employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you. The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage.

It is out of hand, liability premiums are at all-time highs and putting contractors out of business. Advertising Liability – Do you advertise for your contracting business at all? Even if it is just on social media, you could unknowingly cause damages to another business by what you post. Your competitors may be watching and if they feel that something you posted resulted in financial damages to them, like loss of business, they can sue you for that in addition to libel, slander, and defamation.

At the time this was a valid thought process and valuable protection for the workers in the construction industry. If you believe your business is protected by additional insured status in a construction agreement, you should have SEI’s Construction Group review the policy to make sure that is so. Schaefer Enterprises, Inc. can carefully review the language of the blanket additional insured endorsements and confirm your status as an additional insured under a policy.

It’s bad news for you, unless you have adequate limits of liability coverage. An umbrella policy kicks in only when the limit of the basic, underlying policy is reached. Buy an umbrella policy and you can dramatically extend your coverage for a relatively small additional cost.

If you (and/or any other individual) are so critical to the operation of your business that it cannot continue in the event of your illness or death, you should consider “key person” insurance. This type of policy is frequently required by banks or government loan programs. It also can be used to provide continuity in operations during a period of ownership transition caused by the death or incapacitation of an owner or other key employee. Under some circumstances, officers and directors of a corporation may become personally liable for their actions on behalf of the company. Ten years ago, this coverage was virtually non-existent, but now it is widely available. You are protected if any employee sues your company for wrongful termination, job discrimination or any of the other increasingly popular claims alleging failures in your employment practices.