businessman filling out paperwork

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

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…
shoe and plastic cast

What To Expect When An Employee Goes Out on Disability

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

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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

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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

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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

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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…

Important Updates to Your Experience Mod

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The NCCI (National Council on Compensation Insurance), is a group that calculates Experience Modification Factors for companies across the entire United States. Some states have their own rating bureaus due to their size and complexity. For…

Certificates of Insurance: Law Amendment Effective July 28, 2015

Effective July 28, 2015 an amendment to the insurance law made it illegal to request or issue a certificate of insurance with language of any kind (including warranties of coverage) not found in the underlying policy. Certificates of insurance…

Overtime Pay: The Exposure You May Overlook

As a business owner the responsibility of providing a safe, positive, and comfortable work environment falls on your shoulders. The unfortunate reality is that these responsibilities are not always upheld or maintained. To help protect businesses…