Insurance Blog

The Need for Flood Insurance
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NEW LIABILITY ISSUES THAT ARE NOT COVERED UNDER YOUR GENERAL LIABILITY INSURANCE. READ FOR MORE INFO OR CALL US 631-563-8433 POLICYHOLDER ALERT NEW LIABILITY PROBLEM Dear Client: We would like to make you aware of a new liability problem if you own or rent property in New York (other than a one or two family house). This notice will explain that liability and how you can take action to avoid it. If someone doing work on your property is injured, you may be held “absolutely liable” under the New York Labor Law. This means that for certain kinds of accidents (a fall off a ladder) the worker does NOT have to show you were negligent or did anything wrong in order to win a lawsuit. In many of these cases you will have NO DEFENSE to liability at all under your insurance contract since an insurance contract covers you for negligence. We have identified two ways to try and avoid this problem and there may be others. We strongly recommend that you discuss these with your own attorney and start using one or more of these methods as part of your routine business practices when allowing contractors onto your premises to do work. Additional Insured- Make certain that any contractor doing work for you provides you with a current certificate of insurance naming your organization as an ADDITIONAL INSURED and indicates that the coverage provided is primary and covers both direct and vicarious liability. In addition to getting the actual certificate, your written contract with the contractor should also recite that they are going to provide this insurance on your behalf. Indemnification Agreement- The second way is to have a written contract with the contractor. The contract must contain an “indemnification agreement” so that if a worker gets injured and sues you merely because you are the owner or lessor of the property, the employer (the contractor you hired) will have to pay to defend the case and any other money owed. Contact EIFS for a sample “Indemnification Agreement.” Of course, it is always important for you to seek your own legal advice for any contract you sign. In addition to being named as an additional insured and signing a contract that contains an “Indemnification Agreement, it is always important for you to ensure that the contractor has both workers compensation and general liability insurance. If we can be of any further assistance, please call us. Executive Insurance and Financial Services (631)563-8433 or Toll Free: (888)343-7463
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Did you know that deaths resulting from Heart Attacks & Cardiac Arrest rise 22% or more in the weeks during and after a heavy snowfall?
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Tune into our video as E.I.F.S President Anthony Sce III shares with you some important information about saving money on Workman's Compensation.
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A REAL LIFE SCENARIO: When your Worker’s Compensation Lapses Agent: Jason B. This is a problem incurred by a new client at EIFS.For our EIFS clients, 99.9% of the time, this problem could not happen because of the system of ‘checks and balances’ we have in place to make sure that we, as your agents, stay on top of these type of issues for our clients. This is a true scenario.The company name has been altered. We had only recently started working with our new client (TGS) when I received a phone call from a Collection Agency on behalf of the Workers Compensation Board regarding a fine that TGS incurred for having a Workers Compensation policy lapse for 60 days prior to coming to our agency. The Penalty: $12,000 The Collection Agency asked us if we knew how to get in touch with the owner of the company since they had been trying to reach them for some time but they had not responded to their calls. Rather then letting the client handle a situation that they have no experience with, I asked if I could help to remedy the situation on the client’s behalf. I immediately contacted TGS and explained to them the urgency of the situation and advised them that by not responding to the penalty letters they had received only made matters worse. I volunteered my expertise to help them to solve their problem and they were most grateful for my assistance. I explained that they would have to pay a fine, but that I would do my best to bring it down as much as possible.I acted quickly on behalf of our client and consulted with an attorney along the way to be sure I was dispensing the best advice I could.After negotiating with the collection agency the penalty was reduced from $12,000 to $4,500. My client is ecstatic and the Worker’s Compensation Board is satisfied and the case is closed. At EIFS we will work with you to ensure that you never have an issue regarding your Worker’s Compensation Policy.
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1)Make sure your gutters are cleaned. Neglected gutters may become blocked or overflow and can lead to many expensive and dangerous problems including wood-rot, pest infestation & ice dams (when water refreezes at the roof’s edge.) 2)Install a carbon monoxide alarm near the furnace and any fireplaces that get used and at least one near sleeping areas. 3)If you have a fireplace, make sure you have the chimney checked out once a year.Your chimney should be cleaned and checked for damage by a professional chimney cleaner before starting a fire for the first time. 4)Prepare yourself for winter storms. Make sure you have all the supplies you may need in case of ice, snow or a wind storm. This includes snow shovels, bottled water, flashlights, batteries, manual can openers, canned food and blankets. 5)Consider having your heating system checked by a professional. If your heating system is older then 15 years, consider replacing it with a modern, efficient unit. Replace or clean your furnace air filters. 6)Space Heaters should have plenty of space around them. They should be placed at least 3 feet from anything that can burn. This includes furniture, dry clothing, blankets and curtains.Always turn off space heaters before leaving the room or going to sleep. 7)If there is snow make sure to make a clear ice free path from the road to your door. 8)Burn only seasoned hardwood like oak, ash or maple. Do not burn trash, cardboard boxes or Christmas trees because these items burn unevenly, and may contain poisons or cause a home fire. 9)Do not attempt to climb on your roof to remove snow. Use a snow rake while standing at ground level or call a professional. 10)Never use an oven or a range to heat your home. Make sure your Homeowner’s Policy is up to date. For information on Homeowner’s Insurance contact one of our agents at E.I.F.S.(631)563-8433
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No matter where we live we all need to be aware of the extra precautions necessary to safe winter driving. Those of us living in climates where winter is non-existent or an infrequent visitor may need to take special heed. We don't get much practice driving on ice or in snow but business trips or vacations may require us to drive in foreign conditions. It's better to prepare ahead rather than rely on a crash course (sorry for the pun).
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In these cost-conscious days, everyone is trying to save money wherever and whenever they can. It seems that people may especially look to their insurance policies as a place to realize some savings.
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What do real estate firms, golf courses, law offices, banks, farm owners, contractors, dry cleaners and gas stations have in common? Exposure to environmental or pollution lawsuits. Companies that deal with the transfer and storage of hazardous materials, like waste haulers, or fuel oil distributors all have an obvious need for insurance against environmental hazards. But businesses involved in property sales transactions (banks, realtors, lawyers) can pick up the pollution liability that comes along with the subject property. Many businesses use chemicals and substances that are benign, when confined to intended purposes (golf courses, farms, dry cleaners). But improper storage of these materials, inappropriate use, or run-off (pesticides and herbicides) can lead to environmental damage, personal injury and a lawsuit.
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No matter if your food service establishment is a cafe, deli, diner, or upscale restaurant, all such businesses share certain common risks.
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