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Follow-Up: NY State OKs Naming Entities as Additional Insureds Where Status is Blanket

On December 18th, The New York State Department of Financial Services told the IIABNY that, where a liability insurance policy contains an automatic or blanket additional insured endorsement, certificates of insurance can name specific additional…

Owing Money to the New York State Insurance Fund

Workers Compensation Insurance, Workers Compensation Premium Audits

We wrote this article to help folks understand what their options are when they want to return to the New York State Insurance Fund, usually because the private marketplace won’t provide coverage due to class of business or poor loss history.…

Important Update: Department of Finance New York Warns Not To List Additional Insureds When There’s Automatic Coverage

Risk Management

As of December 14th, 2015 the New York State Department of Financial Services has informed us that insurance producers (Agents & Brokers) may not list individual additional insureds on a certificate of insurance when the policy provides…

What To Expect When An Employee Goes Out on Disability

Risk Management

In New York, Short Term disability is an employer required program that pays 50% of pre-disability wages, up to a maximum of $170.00 per week (unless the employer provides additional coverage) to an employee who is unable to work, because of…

Late Reporting of Employee Injuries will Lead to NY Workers Comp Board Fines

Claims Management, HR Challenges, Workers Compensation Insurance

At Metropolitan Risk, our best practice clients understand the critical importance of getting employee injuries into the workers compensation system. Each injury that goes undetected or unreported costs the employer up to 39% more for the same…

Event Planning & Event Management

Human Services Practice Group Content, Other

Risk Insights & Takeaways Event organizers must shoulder a significant burden—they have full responsibility for balancing health, safety, and fun at their events. That means they are also culpable for any event-related health and safety…

Understanding the Difference Between Cost of Risk & Cost of Risk Financing: An Untapped Competitive Advantage

Risk Financing, Risk Management

If you are like most small to mid-sized organizations (under $1 billion in sales) then you should be prepared to define these two terms and understand their consequences for your business. Risk Financing is a fancy term for insurance. Think…

Working on a Wrap Project: You're Not As Protected As You Think

Claims Management, Construction Practice Group Content, General Liability Insurance, Workers Compensation Insurance

I work with high risk businesses every day, and sometimes, when I think I’ve seen it all, something new comes around to surprise me. Many large construction projects will use a “Wrap” or an “OCIP/CCIP” (For more info on what this…