New York - Contractor Ghost Policy

[robtmccarthy]

Anyone know of any carriers willing to write a Ghost Policy?

My GC's are getting frustrated with their subs because no one can write ghost policies here in NY. So they are getting hit at audit time for their 1 man operation subs.

State Fund wants to cover the owners, which puts the premium over $7K for most contracting classes.

These guys are typically willing to pay $1K or better without flinching... but $7K is not so great.

anyone had any luck specifically for NY would be great.


MY CT guys i can go NCCI all day.. but NY has gotten really tough.

 

[Arnage150]

Anyone know of any carriers willing to write a Ghost Policy?

My GC's are getting frustrated with their subs because no one can write ghost policies here in NY. So they are getting hit at audit time for their 1 man operation subs.

State Fund wants to cover the owners, which puts the premium over $7K for most contracting classes.

These guys are typically willing to pay $1K or better without flinching... but $7K is not so great.

anyone had any luck specifically for NY would be great.


MY CT guys i can go NCCI all day.. but NY has gotten really tough.

National Grange is the only company in NY writing ghost policies. But they will not write it for a paper GC. No company will.

If he has uninsured subs he would get charged for them come audit with any company anyway, not just the NYSIF. Tell him to start using subs with insurance.

NYSIF minimum premium is $2,100 for contractors/general contractors. I don't know how you got $7k. If you submitted an executive officer exclusion form they legally can not charge for the exec. If you submitted the quote incorrectly they will not revise it until after the policy is issued.

Are your GC's located in NY or CT? If in ct just get an allstates endorsement put on their policy.

 

[robtmccarthy]

National Grange / MSA will not write ghost policies anymore. They require both 3 years of prior and minimum payroll of i believe 25,000 or $32,000.

As for the GC client, in the past a contractor working as an individual was not required to have coverage as even with coverage if he elects as the owner to not have coverage there will be none. so it's pretty pointless to have coverage.

 

[Arnage150]

National Grange / MSA will not write ghost policies anymore. They require both 3 years of prior and minimum payroll of i believe 25,000 or $32,000.

As for the GC client, in the past a contractor working as an individual was not required to have coverage as even with coverage if he elects as the owner to not have coverage there will be none. so it's pretty pointless to have coverage.

I wrote 2 new venture contractors with $12k in payroll last week with NGM in NY.

I haven't written a ghost policy with them in a few months but I'm 99% sure they are still doing it. You have to ask the underwriter, it is not something you can rate online.

 

[Ger_Rutger]

I wrote 2 new venture contractors with $12k in payroll last week with NGM in NY.

Arnage150 , I'm a new user and was Not able to send you pm message here ( You need to have 20 posts to be able to do it . Site rules. ) .

I am a Small Business owner in NY state -- and I'm very much interested if you can get me the similar Insurance Policy as you mentioned above . I wrote an email for you with all the details -- but I can't send it here .

Email me , please , from your REGULAR email -- and I'll send it to you ... My email : alex_re_nova at Yahoo dot com

 

[robtmccarthy]

Arnage, What classes of business?

Maybe my MSA underwriter doesn't like me hahaha

 

[Arnage150]

Arnage, What classes of business?

Maybe my MSA underwriter doesn't like me hahaha

Maybe it is the class of business. The two I did were tile contractors. I know they are not big on carpentry guys. Was that the class you were trying?

 

[Ger_Rutger]

The two I did were tile contractors. I know they are not big on carpentry guys.

Arnage150 , you are The man I have been looking for ... You write EXACTLY what I need ! ... I've spent alot of time searching for an Agent who can write JUST THAT for me .

Please , email me as soon as possible : alex_re_nova at Yahoo dot com
Or , do you have a number to call ? A website ?... How can I get in touch with you ?

 

[robtmccarthy]

Yeah i was working on carpenters, Tile guys are easier.

But even still the aren't a big fan of Ghost Policies.