The New York Liability Shield: A Comprehensive Guide to Business Insurance in the Empire State

Introduction: The High-Stakes Arena of New York Business

New York, and particularly New York City, stands as a global epicenter of commerce, culture, and innovation.

It is an environment of unparalleled opportunity, drawing ambitious entrepreneurs and established corporations alike.

Yet, this vibrant landscape is also one of the most complex and litigious in the world.¹

For any business operating within the Empire State, navigating this high-stakes arena requires more than just a solid business plan and capital.

It demands a sophisticated understanding and strategic deployment of liability insurance.

In this environment, insurance transcends its role as a mere compliance checkbox or an operational expense.

It becomes a fundamental strategic asset, a form of “financial armor” that is indispensable for survival, resilience, and growth.³

To operate without it, or with inadequate coverage, is to expose the enterprise to financial attacks—lawsuits, regulatory fines, and catastrophic claims—that can cripple or destroy even the most promising ventures.

The journey through New York’s liability landscape can be treacherous; attempting it without expert guidance is akin to a ship captain sailing into a storm-prone sea without a map, a barometer, or a reinforced hull.

This report is designed to be that comprehensive nautical chart.

Beyond its primary function of protection, the possession of robust and appropriate insurance coverage in New York serves as a powerful competitive differentiator.

The ability to produce a valid certificate of insurance is often a non-negotiable prerequisite for participation in the market.

Landlords demand it for commercial leases, corporate clients mandate it for service contracts, and government agencies require specific liability limits and bonds for public works projects.⁴

A business lacking the correct insurance portfolio is immediately disqualified from a vast array of opportunities, effectively barred from leasing prime real estate, winning lucrative contracts, or bidding on essential infrastructure work.

In the crowded New York marketplace, proper insurance is not just a shield; it is a key that unlocks access and a tool that builds the credibility necessary to separate serious, sustainable enterprises from unprepared aspirants.⁷

This report will provide an exhaustive, expert-level analysis of the New York liability insurance ecosystem.

It will dissect the mandatory and recommended coverages, demystify the unique regulatory gauntlet of the state and its major municipalities, and explore the strategic frameworks necessary to transform insurance from a reactive cost into a proactive shield that fortifies a business’s foundation and secures its future.

Section 1: The Bedrock of Business Protection: Foundational Liability Coverages

For any enterprise in New York, a solid risk management strategy begins with a core set of foundational liability insurance policies.

These coverages form the bedrock of protection against the most common and financially threatening risks a business will face.

While state law only mandates certain policies under specific conditions, the commercial realities of operating in New York create a wider set of “essential” coverages that are functionally compulsory for any viable business.

An owner who understands only the legal minimums will find themselves compliant with the law but commercially paralyzed, unable to sign a lease, win a contract, or obtain a necessary license.

1.1 Commercial General Liability (CGL): The First Line of Defense

Commercial General Liability (CGL) insurance is the fundamental policy for nearly every business, serving as the first and broadest line of defense against claims from third parties—that is, anyone who is not an employee.⁸

It is designed to protect a business’s assets when it is sued for causing bodily injury, property damage, or personal and advertising injury.¹

CGL coverage typically addresses three main categories of risk:

• Bodily Injury: This covers the medical expenses, legal fees, and potential settlements or judgments if a customer, vendor, or other third party is injured on the business’s premises or as a result of its operations. The classic example is a customer slipping on a wet floor in a retail store or restaurant.¹¹
• Property Damage: This applies when the business’s operations or its employees cause damage to someone else’s property. For instance, if a contractor’s employee accidentally damages a client’s furniture while working in their home, the CGL policy would respond to the claim.¹
• Personal and Advertising Injury: This less-understood component covers non-physical injuries, such as claims of libel, slander, copyright infringement, or false advertising.⁸ If a business’s marketing campaign is accused of defaming a competitor, the CGL policy would cover the defense costs.

While New York State does not have a statute mandating CGL for all businesses, it is considered essential and is often de facto mandatory.

Most commercial landlords will not sign a lease without proof of CGL coverage, and many client contracts explicitly require it as a condition of doing business.⁴

This makes CGL a commercial necessity for accessing office space and securing revenue.

For most small businesses in New York, a CGL policy with limits between $500,000 and $1 million per occurrence is a standard starting point.¹

With an average cost in New York cited at a relatively modest $42 per month, it represents an affordable and high-value investment in basic protection.⁴

It is crucial to understand, however, that CGL policies have significant exclusions; they do not cover professional mistakes, employee injuries, or incidents involving business-owned vehicles, which necessitates the additional coverages discussed below.⁶

1.2 Workers’ Compensation: The Mandatory Employer Shield

Unlike CGL, Workers’ Compensation insurance is unequivocally mandatory under New York State law for nearly every business that has employees.⁴

The state’s definition of an “employee” is exceptionally broad, encompassing not only full-time and part-time staff but also, in most cases, borrowed employees, unpaid volunteers, and certain subcontractors.¹

Misclassifying an individual as an independent contractor when the state considers them an employee is a common and perilous error for business owners.

This insurance serves a critical dual function.

First, it provides a defined set of benefits to employees who are injured or become ill as a direct result of their job.

These benefits include coverage for medical treatment, disability payments to replace a portion of lost wages, and rehabilitation services.⁴

Second, it provides the employer with vital protection from lawsuits.

In exchange for these guaranteed benefits, the employee generally gives up the right to sue their employer for negligence related to the injury.

This principle, known as the “exclusive remedy,” shields the business from potentially massive and unpredictable court judgments.⁴

Given its mandatory nature, the state imposes severe penalties for non-compliance.

Failure to carry the required coverage can result in substantial fines and, in cases involving more than five employees, can even be prosecuted as a felony.⁴

The average cost for this coverage in New York is approximately $38 per month, though this figure is heavily dependent on the size of the company’s payroll and the risk level associated with its industry classification codes.⁴

An office-based business will pay significantly less than a construction firm with the same payroll.

1.3 Commercial Auto Liability: Covering Business on the Move

For any business in New York that owns vehicles, a Commercial Auto insurance policy is legally required.⁴

This policy covers liability for bodily injury and property damage caused by the business’s vehicles in an accident, as well as physical damage to the vehicles themselves from theft, vandalism, or weather.⁴

A critical point of understanding for business owners is that a personal auto policy will not provide coverage for accidents that occur while a vehicle is being used for business purposes.¹²

This is one of the most common and financially devastating insurance gaps.

A realtor driving their own car to show properties or a caterer using their personal van for deliveries would likely find their personal auto claim denied in the event of an accident.

New York law specifies minimum liability limits for all vehicles, including those used for commercial purposes.

These minimums include $25,000 for bodily injury per person and $50,000 per accident; $50,000 for death per person and $100,000 per accident; and $10,000 for property damage per accident.⁴

The state also requires Personal Injury Protection (PIP) and uninsured/underinsured motorist coverage.⁴

Furthermore, businesses where employees use their personal cars for company business (e.g., sending an employee to the bank or to pick up supplies) face a significant liability exposure.

A specialized coverage known as “Hired and Non-Owned Auto Liability” is essential to protect the business in these scenarios, as the company could be sued even if it doesn’t own the vehicle involved in the accident.¹⁰

1.4 The Business Owner’s Policy (BOP): The Small Business Power-Pack

A Business Owner’s Policy, or BOP, is a packaged insurance product designed specifically for small, lower-risk businesses.¹¹

It offers a convenient and cost-effective way to secure essential protections by bundling two critical coverages into a single policy: Commercial General Liability (CGL) and Commercial Property Insurance.⁴

By combining these policies, a BOP provides comprehensive protection against both third-party liability claims (like a customer injury) and first-party property losses.¹¹

The property component covers damage to the business’s physical assets—such as its building, equipment, inventory, and furniture—from perils like fire, theft, or vandalism.⁴

Crucially, many BOPs also include Business Interruption coverage.⁸

This invaluable protection helps a business survive a temporary shutdown following a covered event like a fire.

It can replace lost net income and cover continuing operating expenses like rent, payroll, and taxes while the business is unable to operate, providing the cash flow needed to recover and reopen.¹⁰

To be eligible for a BOP, a business typically must meet certain criteria related to its size (fewer than 100 employees), revenue (less than $1 million), and industry risk profile.¹¹

For those that qualify, a BOP is often the most efficient and economical way to establish a foundational insurance program.

Policy Name	What It Covers (Key Risks)	Who Needs It (Typical Scenarios)	NY Status (Mandatory/Essential)
Commercial General Liability (CGL)	Third-party bodily injury, property damage, and personal/advertising injury (e.g., libel, slander).1	Any business that interacts with the public, has a physical location, or advertises its services.11	Essential. Required for most commercial leases and client contracts.4
Workers’ Compensation	Employee medical expenses, lost wages, and disability benefits for work-related injuries/illnesses.4	Any business with one or more employees (full-time, part-time, or some volunteers).4	Mandatory. Required by New York State law with severe penalties for non-compliance.4
Commercial Auto Liability	Bodily injury and property damage caused by business-owned vehicles; theft and damage to the vehicles.4	Any business that owns vehicles. Also needed for businesses where employees use personal cars for work.10	Mandatory for business-owned vehicles. Essential (Hired & Non-Owned) for other business driving.4
Business Owner’s Policy (BOP)	A package combining CGL, Commercial Property, and often Business Interruption coverage.4	Small, low-risk businesses that own or rent a physical space and have business property to protect.11	Essential. A cost-effective way to meet CGL requirements and protect business assets.

Section 2: Specialized Shields: Advanced and Industry-Specific Policies

While foundational policies provide a crucial safety net, the modern business landscape in New York is fraught with specialized risks that fall squarely into the exclusion clauses of standard CGL coverage.

A sophisticated approach to liability protection requires understanding that the greatest danger often lies not in being uninsured, but in being underinsured due to these coverage gaps.

An entire economy of specialized insurance products has emerged to fill these well-defined voids.

For a New York business, failing to map and cover these exclusions is to build a fortress with undefended gates.

2.1 Professional Liability (Errors & Omissions): Protecting Your Expertise

Professional Liability insurance is designed to protect businesses and individuals who provide professional services or advice for a fee.⁵

It covers the financial losses of a third party (a client) arising from alleged negligence, work mistakes, or the failure to perform professional duties.⁴

If a client sues, claiming that a service provider’s error or omission caused them financial harm, this policy covers the defense costs, settlements, and judgments.

A common point of confusion is the terminology.

“Professional Liability” (PL) and “Errors & Omissions” (E&O) are, for all practical purposes, interchangeable terms describing the same type of coverage.⁶

Different industries have simply adopted different names for this protection; for example, real estate professionals typically refer to it as E&O insurance, while architects and consultants call it Professional Liability.⁴

It is important to distinguish PL/E&O from Malpractice Insurance, which is a highly specialized form of PL designed for medical and legal professionals to cover claims involving bodily injury or harm resulting from their professional services.¹²

Claims covered by a PL/E&O policy can include a wide range of scenarios, such as an accountant making a costly error on a tax return, a software consultant’s code having a bug that causes a client’s system to crash, or a marketing firm missing a critical deadline for a campaign launch.⁴

Even if a lawsuit is baseless, the cost of defending against it can be substantial, and a PL policy will respond to cover those legal fees.⁵

While not mandated by New York state law, PL/E&O is often a requirement to secure professional licenses in certain fields or to win contracts with sophisticated clients who demand this layer of protection.⁴

The litigious nature of the New York market is reflected in the cost; the average monthly premium for PL in New York is $83, significantly higher than the national average of $61.⁶

2.2 Cyber Liability Insurance: The Digital Fortress

In an increasingly digital world, Cyber Liability insurance has rapidly evolved from a niche product to an essential shield for almost any business that handles sensitive information.⁸

This includes companies that process credit card payments, store customer contact information, or manage employee data.⁴

A standard CGL policy explicitly excludes most cyber-related incidents, creating a massive and often unrecognized coverage gap for unprepared businesses.²²

Cyber Liability coverage is typically broken into two main components:

• First-Party Coverage: Often referred to as Data Breach Insurance, this covers the direct costs incurred by the business after a cyberattack or data breach. These expenses can be staggering and include hiring forensic experts to investigate the breach, notifying affected customers as required by state law, providing credit monitoring services to victims, managing public relations to repair reputational damage, and even paying ransoms in extortion events.²¹
• Third-Party Coverage: This protects the business from liability claims if its failure to secure its own network leads to a financial loss for a client. For example, if an IT consulting firm’s negligence allows a hacker to access a client’s system, the third-party component of the IT firm’s cyber policy would cover the legal defense and settlement costs of the ensuing lawsuit.⁴

The financial stakes are immense.

The average cost of a ransomware attack has soared, with ransom demands averaging $1.54 million.²⁵

For a small business, the total cost to resolve a security incident can range from $120,000 to over $1.24 million, a sum that could easily lead to bankruptcy without insurance.²⁵

Furthermore, New York has implemented specific and demanding cybersecurity regulations, such as 23 NYCRR 500 for the financial services and insurance industries, which may implicitly or explicitly require businesses to maintain adequate cyber coverage.¹⁵

2.3 Commercial Umbrella Insurance: High-Limit Catastrophe Protection

A Commercial Umbrella policy provides an additional layer of liability protection that sits “over the top” of a business’s primary liability policies.⁴

It is a form of excess liability insurance, meaning it only activates once the coverage limits of an underlying policy—such as CGL, Commercial Auto Liability, or Employer’s Liability—have been completely exhausted by a large claim.¹⁰

The value of an umbrella policy is best illustrated with an example.

Imagine a business carries a CGL policy with a $1 million limit per occurrence.

A customer suffers a severe injury on the premises, resulting in a lawsuit that culminates in a $2.5 million judgment against the business.

The CGL policy would pay its full limit of $1 million.

Without an umbrella policy, the business would be responsible for paying the remaining $1.5 million out of pocket, potentially leading to financial ruin.

With an adequate umbrella policy, however, that excess amount would be covered.¹⁰

This type of coverage is not just for large corporations.

It is essential for any business with significant public exposure, valuable assets to protect, or those that engage in contracts requiring liability limits higher than what a standard primary policy can offer.

In New York’s litigious climate, where jury awards can be substantial, an umbrella policy is a prudent and often necessary tool for catastrophic risk transfer.

2.4 Niche Coverages for Specific Risks

Beyond the major specialized policies, a host of other niche coverages exist to address the unique risks of specific industries and operations.

• Product Liability Insurance: While often included as part of a CGL policy, businesses that manufacture, distribute, or sell high-risk physical products may need a standalone Product Liability policy. This protects against lawsuits alleging that a product defect caused bodily injury or property damage.⁸
• Liquor Liability Insurance: This is a critical coverage for any establishment that sells, serves, or furnishes alcoholic beverages, such as bars, restaurants, and event caterers. Standard CGL policies contain a strict liquor liability exclusion, meaning they will not cover claims arising from the actions of an intoxicated patron. If a bar over-serves a customer who then causes a fatal car accident, the bar could be held liable under New York’s “dram shop” laws, and only a dedicated Liquor Liability policy would provide a defense.²⁷
• Employment Practices Liability Insurance (EPLI): Another risk explicitly excluded by CGL policies is liability arising from employment-related claims. EPLI is designed to cover lawsuits brought by employees alleging wrongful termination, discrimination, sexual harassment, and other workplace torts.¹⁰ In an environment with robust employee protections, EPLI is a vital shield for any business with a workforce.

Section 3: Navigating the Gauntlet: New York’s Unique Regulatory and Legal Landscape

Operating a business in New York requires navigating a legal and regulatory environment that is unlike any other in the United States.

The state, and New York City in particular, imposes a unique set of rules that dramatically impacts liability exposure and insurance requirements.

This landscape is defined by a paradox: for general negligence claims, it employs a modern, plaintiff-friendly standard of fault apportionment.

Simultaneously, for the construction industry, it clings to an archaic, defendant-hostile standard of absolute liability.

This legal duality creates extreme and unpredictable risk environments that vary profoundly by industry, making a deep understanding of these specific rules essential for accurate risk assessment and survival.

3.1 The Five Boroughs’ Fortress: NYC Department of Buildings (DOB) Requirements

For any contractor, artisan, or other licensed professional hoping to work within the five boroughs of New York City, the Department of Buildings (DOB) acts as a formidable gatekeeper with strict, non-negotiable insurance requirements.²⁹

Simply having an insurance policy is not enough; the proof of insurance must adhere to a precise and unforgiving set of administrative rules.

To have a certificate of insurance accepted by the DOB, it must contain:

• The licensee’s specific license, registration, or tracking number.
• The business name, address, and phone number, which must exactly match the information on file with the Department.
• A “Certificate Holder” box that reads, verbatim: “NYC Department of Buildings, Attn: Licensing & Exams Unit, 280 Broadway, New York, NY 10007”.²⁹

Furthermore, the DOB mandates specific minimum coverage levels and forms.

General Liability insurance must have a minimum limit of $1 million per occurrence.²⁹

The Department will only accept specific versions of the industry-standard ACORD 25 Certificate of Liability Insurance form (e.g., 2016/03 version) and designated forms for Workers’ Compensation (e.g., C105.2) and Disability insurance.²⁹

Submitting an outdated or incorrect form will lead to immediate rejection.

For businesses without employees, it is possible to file for an exemption from carrying Workers’ Compensation and Disability insurance using Form CE-200.

However, certain license types, most notably General Contractors, are explicitly prohibited from filing for this exemption.²⁶

The entire process is digitized and must be completed through the DOB NOW online portal, requiring licensees to upload separate PDF documents for each insurance type and attest to their accuracy.²⁹

Failure to comply with any of these detailed requirements will halt projects and prevent permits from being issued.

3.2 The Scaffold Law (Labor Law § 240): An In-Depth Analysis

At the heart of New York’s unique liability environment is Labor Law § 240, commonly known as the “Scaffold Law.” Enacted in the late 19th century, this statute imposes “absolute liability” or “strict liability” on property owners and general contractors for “gravity-related” injuries sustained by workers on a construction site.³⁰

This includes falls from heights (such as ladders and scaffolds) and injuries from falling objects.³³

The critical and controversial implication of this law is that it removes the worker’s own negligence as a defense.

In a typical negligence case, if a person is partially at fault for their own injury, their financial recovery is reduced.

Under the Scaffold Law, however, even if a worker was demonstrably negligent—for example, by failing to use available safety equipment—the property owner or general contractor can be held 100% liable for the full extent of the damages.³⁰

This deviation from standard legal principles of fairness and fault apportionment is shocking to many and has profound consequences for the state’s construction industry and taxpayers.³⁰

The direct results of this law are clear and well-documented:

• Skyrocketing Insurance Costs: The Scaffold Law is the single largest driver of construction insurance costs in New York, which are the highest in the nation.³⁰ Insurance premiums on large projects have ballooned from around 4% of total project value in 2010 to over 12% by 2024.³²
• Insurer Exodus: The law’s imposition of absolute liability has made the New York construction market so risky and unprofitable that many national insurance carriers have simply stopped writing policies for contractors in the state, reducing competition and driving prices even higher.³⁰
• Massive Public Burden: The inflated insurance costs are passed on to the public in the form of higher taxes and reduced services. The law is estimated to cost New York taxpayers $785 million annually.³⁰ Its impact on major infrastructure projects is staggering; it was estimated to add between $200 million and $400 million to the cost of constructing the new Tappan Zee Bridge (now the Governor Mario M. Cuomo Bridge) alone.³⁰

For decades, a broad coalition of contractors, business groups, and local governments has advocated for reforming the law to a “comparative negligence” standard, where liability is apportioned based on fault.

While these efforts have been unsuccessful at the state level, a recent federal bill proposed exempting federally funded projects from the law, signaling that the debate is far from over.³¹

3.3 The Law of Negligence in New York: The Comparative Fault System

In stark contrast to the absolute liability standard of the Scaffold Law, the rest of New York’s personal injury law operates under a “pure comparative negligence” system, codified in N.Y. C.P.L.R.

§ 1411.³⁶

This rule governs the vast majority of liability claims a business might face, such as a customer slip-and-fall or a non-construction-related accident.

To win a negligence lawsuit in New York, a plaintiff must prove four elements:

1. Duty of Care: The defendant owed a legal duty to the plaintiff to act with reasonable care.
2. Breach of Duty: The defendant failed to meet that standard of care.
3. Causation: The defendant’s breach was the direct cause of the plaintiff’s injury.
4. Damages: The plaintiff suffered actual harm or financial loss.³⁸

Under the pure comparative negligence rule, if a plaintiff is found to be partially responsible for their own injuries, they can still recover damages, but their award is reduced by their percentage of fault.³⁶

For example, if a jury determines a customer’s damages from a fall are $100,000 but finds that the customer was 30% at fault for not paying attention, the customer’s award would be reduced by $30,000, for a net recovery of $70,000.

As long as the plaintiff is not 100% at fault, they are entitled to some recovery.³⁷

This system, while still favorable to plaintiffs compared to the laws of many other states, stands in direct opposition to the all-or-nothing approach of the Scaffold Law, highlighting the deep legal paradox at the heart of New York’s liability framework.

Permit Type	Tallest Adjacent Building	Proposed Construction: < 7 stories AND < 75ft	Proposed Construction: 7-14 stories AND < 150ft	Proposed Construction: > 14 stories OR >= 150ft
New Buildings & Major Alterations	< 7 stories AND < 75ft	$5 million	$15 million	$25 million
	7-14 stories AND < 150ft	$15 million	$15 million	$25 million
	> 14 stories OR >= 150ft	$25 million	$25 million	$25 million
Foundation or Full Demolition	< 7 stories AND < 75ft	$5 million	$10 million	$15 million
	7-14 stories AND < 150ft	$15 million	$15 million	$25 million
	> 14 stories OR >= 150ft	$25 million	$25 million	$25 million
Table based on data from the NYC Department of Buildings.40 Note: For any project utilizing a tower crane, a general liability insurance limit of $80 million is required, regardless of other project parameters.

Section 4: From Policy to Practice: Proactive Risk Management and Claims Strategy

Possessing the right insurance policies is only half the battle.

To truly fortify a business against liability, owners must shift from a reactive posture of simply buying insurance to a proactive strategy of managing risk and preparing for the claims process.

This involves avoiding common pitfalls, implementing a structured risk management framework, and understanding the anatomy of a claim.

In New York’s challenging market, a business’s internal practices—its safety protocols, documentation, and incident response plans—are not separate from its insurance program; they are deeply symbiotic.

Strong internal controls lead to fewer claims, which in turn leads to lower premiums and better access to coverage, creating a virtuous cycle of resilience.

4.1 Common but Costly Mistakes: The Underinsurance Epidemic

Many businesses, particularly small ones, fall prey to a handful of common but potentially devastating insurance mistakes.

These errors often stem from a desire to cut costs or a simple lack of understanding, but they can leave a company dangerously exposed when an incident occurs.

• Underinsuring and Skimping on Liability: This is the most prevalent and dangerous mistake. In an effort to save on premiums, a business might purchase only the bare minimum coverage required by a lease or contract, or choose inadequately low limits.¹⁰ This can lead to a catastrophic gap between the policy limit and the actual cost of a major lawsuit, forcing the business to cover the difference out of pocket. A single severe slip-and-fall claim can easily exceed $250,000, far surpassing a minimal policy limit.⁴²
• Failing to Update Coverage as the Business Evolves: Insurance needs are not static. As a business grows—hiring more employees, acquiring new equipment, increasing revenue, or expanding its services—its risk profile changes. A policy that was adequate for a startup will be dangerously insufficient for a growing enterprise. Failing to conduct regular policy reviews and adjust coverage limits accordingly is a common oversight that creates significant, unintended gaps.⁴¹
• Ignoring Critical Modern Risks: Many business owners purchase foundational CGL coverage and assume they are protected, while ignoring the massive exposures of the digital age. Specifically, neglecting to purchase Cyber Liability insurance to cover data breaches and EPLI to cover employee lawsuits are two of the most significant modern oversights.⁴¹
• Basing the Purchase Decision on Price Alone: While cost is always a factor, choosing a policy solely because it is the cheapest is a false economy. Low-priced policies often come with higher deductibles and, more importantly, restrictive exclusions that render the coverage useless when it’s needed most.⁴³
• Failing to Understand Policy Exclusions: Every insurance policy contains a section detailing what it does not cover. Many business owners never read this “fine print” and are shocked to discover that a claim is denied because the incident falls under a specific exclusion. This is a recipe for financial disaster.⁴¹

4.2 Implementing a Risk Management Framework: From Reactive to Proactive

A formal risk management framework provides a structured, continuous process for dealing with potential threats, moving a business from a reactive stance to a proactive one.⁴⁶

For most small to mid-sized businesses, a simple, actionable framework is most effective:

1. Identify Risks: The first step is to systematically brainstorm all potential risks the business faces. This can involve the entire team and should cover everything from operational hazards (e.g., wet floors) and financial risks (e.g., loss of a key client) to strategic threats (e.g., a new competitor).⁴⁷
2. Assess and Analyze Risks: Once identified, each risk should be analyzed to determine its potential likelihood and its potential impact on the business. A simple ranking system (e.g., low, moderate, high) can help prioritize which risks require the most immediate attention.⁴⁸
3. Select a Response Strategy: For each significant risk, the business must decide how to respond. There are four primary strategies ⁴⁹:

• Avoidance: Eliminating the risk entirely by ceasing the high-risk activity.
• Mitigation: Reducing the likelihood or impact of the risk through safety measures, training, or improved processes.
• Acceptance: Acknowledging the risk and taking no action, typically because the cost of addressing it outweighs the potential impact.
• Transfer: Shifting the financial consequences of the risk to another party.

Insurance is the primary mechanism for risk transfer.⁴⁷

In exchange for a predictable premium, the business transfers the financial burden of a potentially catastrophic and unpredictable loss—such as a major lawsuit or a fire—to the insurance company.

This framework helps a business owner see insurance not as an isolated purchase, but as a strategic tool used to manage specific, identified risks.

4.3 The Anatomy of a Claim: What to Do When an Incident Occurs

How a business responds in the immediate aftermath of an incident can have a significant impact on the outcome of a future insurance claim or lawsuit.

Having a clear, documented procedure is a cornerstone of effective risk management.

In the event of an incident like a customer slip-and-fall, the following steps should be taken:

• Prioritize Safety and Medical Care: The first priority is the well-being of the injured person. Offer and arrange for immediate medical attention as needed.
• Report the Incident Internally: The incident should be immediately reported to the manager on duty and documented in an internal incident report.
• Gather Evidence: If possible and safe to do so, take photographs of the scene, the specific hazard that caused the incident, and any visible injuries. Collect contact information from any witnesses.⁵⁰
• Preserve Evidence: Do not discard any items involved in the incident, such as a broken piece of equipment or a faulty product.
• Notify Your Insurer Promptly: Report the incident to your insurance broker or carrier as soon as possible. Insurance policies have strict requirements for timely notification, and a delay can jeopardize coverage.¹⁰
• Do Not Admit Fault: Instruct all employees to be helpful and empathetic, but to avoid speculating on the cause of the incident or admitting fault.
• Avoid Recorded Statements: Politely decline to provide a recorded statement to the injured party’s insurance company or attorney until you have spoken with your own insurer and legal counsel.⁵⁰

4.4 When the Insurer Says No: Understanding and Contesting Claim Denials

Despite paying premiums, a business may find its insurance claim denied.

Insurers are for-profit entities and will deny claims they believe are not covered by the policy.⁵²

Understanding the common reasons for denial is the first step in preventing them.

Common Reason for Claim Denial	Proactive Business Solution / Risk Management Strategy
Lack of Coverage for the Incident	Work with a knowledgeable broker to identify and close coverage gaps created by policy exclusions. Regularly review policies to ensure they align with all business operations.43
Incorrect or Missing Information	Implement a standardized claim submission process with a checklist to ensure all forms are filled out completely and accurately. Double-check all policy numbers, dates, and names.51
Missed Filing Deadline	Create a formal, documented incident reporting protocol that specifies clear timelines and assigns responsibility for notifying the insurer immediately after an event.51
Insufficient Supporting Documentation	Maintain a well-organized digital archive of all relevant documents for potential claims, including invoices, repair estimates, photos, videos, and internal incident reports.51
Failure to Adhere to Policy Terms	Thoroughly review all policy conditions and requirements (e.g., safety standards, use of approved contractors) with your broker and ensure they are integrated into your business’s standard operating procedures.51

If a claim is denied, the business is not without recourse.

In New York, if an insurer is believed to have acted in “bad faith”—for example, by failing to conduct a reasonable investigation or denying a claim without a valid basis—the policyholder can take action.⁵²

Options include challenging the denial in court, filing a formal complaint with the New York State Department of Financial Services (DFS), or, in some cases, pursuing arbitration.⁵²

Section 5: The High Cost of Error: Case Studies in New York Liability

Abstract discussions of risk and policy can only go so far.

To truly understand the high-stakes nature of liability in New York, it is essential to examine real-world scenarios.

The following case studies serve as diagnostic tools, revealing the precise points of failure and success within the system.

They make tangible the consequences of the laws, policies, and risks discussed in previous sections, illustrating how quickly a business can face financial ruin or, with strategic foresight, navigate a potentially catastrophic event.

5.1 The Construction Conundrum: Fraud and the Scaffold Law

The case of Quirino Rotondo, a Long Island construction contractor, serves as a tragic cautionary tale about the consequences of insurance fraud, exacerbated by the immense financial pressures of New York’s construction market.⁵⁵

Faced with the state’s notoriously high workers’ compensation costs—driven in large part by the Scaffold Law—Rotondo engaged in a scheme to illegally lower his premiums.

He misclassified his high-risk demolition workers as lower-risk employees like carpenters and insured them through unrelated shell companies to shield his primary business from liability.⁵⁵

This scheme was not a victimless, white-collar crime.

It was exposed in the most horrific way possible: a 44-year-old worker, William Villatoro, was killed in a 2018 accident while using a demolition saw.⁵⁵

The subsequent investigation revealed the fraud, which had left the worker’s family facing delays in death benefits and the insurance carriers—Continental Insurance and the New York State Insurance Fund (NYSIF)—defrauded of over $700,000 in premiums they should have collected for the actual risk they were unknowingly covering.⁵⁶

Rotondo was ultimately sentenced to prison and ordered to pay $1.2 million in restitution.⁵⁵

This case diagnoses a systemic problem: the extreme financial pressure created by laws like the Scaffold Law can tempt some contractors into illegal and dangerous cost-cutting measures, with devastating human and financial consequences.

5.2 The Real Estate Reality: A Strategic Response to a Hostile Market

In stark contrast to the previous case, a case study involving a New York City apartment owner provides a masterclass in strategic risk management within a hyper-litigious environment.²

The client faced a market where the cost of general liability insurance was spiraling out of control, driven by a legal climate where even minor, non-injury incidents could result in six-figure settlements.²

Faced with a potential million-dollar premium increase, the client, guided by their consultant, adopted a sophisticated, two-pronged approach rather than simply searching for a cheaper, likely inadequate, policy.

First, they strategically shifted their risk profile by moving to a large deductible plan of $250,000.

This meant the business agreed to pay the first $250,000 of any claim, a move that significantly lowered their annual premium and, critically, made them a more attractive risk to insurers, opening up more coverage options in a tight market.²

Second, and inseparably from the first step, they built a robust internal safety and compliance infrastructure to manage this new deductible.

This included installing a comprehensive video surveillance system, providing enhanced training for building superintendents on incident reporting and maintenance logs, and establishing preemptive relationships with personal injury defense attorneys.²

The return on this investment was immediate and profound.

The camera system helped uncover a fraudulent assault claim disguised as a slip-and-fall, saving the company from a potentially massive payout.

The overall strategy not only controlled costs but also improved their safety record, making their annual insurance renewal a smooth, predictable process instead of a source of stress and uncertainty.

This case diagnoses a successful treatment for the “disease” of a hostile liability market: a symbiotic combination of strategic risk acceptance (the deductible) and proactive risk mitigation (the safety infrastructure).

5.3 The Digital Danger: Tech E&O and the Cost of a Breach

The risks for a modern New York business extend far beyond physical premises.

Consider a hypothetical but highly realistic scenario involving a Brooklyn-based tech startup that provides a proprietary project management software-as-a-service (SaaS) platform.

A bug in a new software update causes intermittent data loss and system downtime for one of their major clients, a marketing agency.

As a result, the agency misses a critical campaign deadline for its own client, leading to a cancelled contract and significant financial loss.

The marketing agency sues the Brooklyn startup for negligence, breach of contract, and failure of their product to perform as promised, seeking damages for their lost revenue.⁵⁷

In this scenario, the startup’s CGL policy would offer no protection, as it excludes claims for economic loss arising from professional services or product failure.

Only a Technology Errors & Omissions (Tech E&O) policy would respond.

This specialized coverage is designed specifically for these risks, and it would pay for the startup’s legal defense costs, as well as any settlement or court-ordered judgment, potentially saving the young company from bankruptcy.⁵⁸

Separately, if a small New York retailer suffers a data breach where hackers steal customer credit card information, the costs can be crippling.

The retailer would face expenses for forensic investigation to determine the scope of the breach, legal fees, regulatory fines under laws like the Payment Card Industry Data Security Standard (PCI DSS), the cost of notifying every affected customer, and providing them with several years of credit monitoring services.²⁵

These direct costs can easily reach hundreds of thousands of dollars for a small business, not including the long-term reputational damage and loss of customer trust.²⁵

A Cyber Liability policy is the only insurance designed to cover this specific constellation of expenses.²¹

5.4 The Premises Peril: Slip-and-Fall and Liquor Liability

Premises liability remains one of the most common sources of claims against New York businesses.

In a typical NYC slip-and-fall lawsuit, a customer who is injured in a retail store must prove that the business was negligent.³⁷

A key element of this proof is “notice”—the plaintiff must show that the business either created the dangerous condition (e.g., an employee mopped the floor and failed to put up a warning sign), had “actual notice” of the hazard (e.g., another customer reported the spill), or that the hazard existed for long enough that the business

should have known about it (“constructive notice”).¹⁶

Given the potential for high settlement values, which can range from a few thousand dollars to over $1 million for severe injuries, carrying adequate CGL insurance is absolutely critical.⁵⁰

However, as previously noted, a CGL policy has crucial limitations.

Consider a restaurant in Buffalo that serves alcohol.

A patron is visibly intoxicated but is served several more drinks.

The patron then leaves the restaurant, drives away, and causes a serious accident that injures another driver.

The injured driver sues not only the drunk driver but also the restaurant under New York’s “dram shop” laws, which hold establishments liable for serving intoxicated individuals.²⁷

The restaurant’s CGL policy would almost certainly deny this claim based on its liquor liability exclusion.

Only a separate Liquor Liability insurance policy would cover the restaurant’s legal defense and any resulting judgment, protecting it from a claim that could easily force it to close its doors permanently.²⁷

Section 6: Strategic Counsel: Selecting and Partnering with Your Insurance Professional

The extreme complexity of New York’s insurance and legal landscape—with its paradoxical liability standards, industry-specific mandates, and city-level regulations—creates a significant market inefficiency.

Business owners, focused on their core operations, cannot reasonably be expected to master this intricate ecosystem on their own.

This information asymmetry places them at a profound disadvantage.

In this environment, the role of a specialized, expert insurance professional is elevated from a mere convenience to a strategic necessity.

The right broker acts as the essential human interface to this complex system, serving as the antidote to the systemic challenges detailed throughout this report.

6.1 The Broker’s Role: Navigator in a Complex Market

A qualified insurance broker is far more than a salesperson; they are a risk advisor and a strategic partner.⁶²

In a market as convoluted as New York, their value is multifaceted and indispensable.

A key function of a broker is to save the business owner their most valuable asset: time.

Comparing the intricate details of various business insurance packages is far more complex than comparing personal auto or home policies.⁶⁴

A broker leverages their market knowledge and relationships to efficiently source appropriate coverage options.

More importantly, they use their experience to identify risks that the business owner may have overlooked.

They understand the “economy of exclusions” and know which specialized policies are needed to fill the gaps in foundational coverage.⁶⁴

Furthermore, a skilled broker can often access better deals and broader coverage than a business could obtain on its own.

They can negotiate terms with underwriters and advocate on the client’s behalf.⁶⁴

This advocacy becomes most critical during the claims process.

When a claim occurs, the broker works for the business, not the insurance company.

They help coordinate the claims process, ensure proper documentation is submitted, and fight for the client’s rights if a claim is unfairly delayed or denied.⁶⁴

Effective brokers often use storytelling and relatable analogies to translate complex policy language into clear, understandable concepts, ensuring the client truly comprehends the value and limitations of their protection.⁶⁵

6.2 Vetting Your Advisor: Finding the Right Partner

Choosing the right insurance broker is one of the most important risk management decisions a New York business owner will make.

The selection process should be as rigorous as hiring a key executive or legal counsel.

The following checklist provides essential criteria for vetting a potential advisor:

• Verify Their License: This is the absolute first step. A broker must be licensed by the New York State Department of Financial Services (DFS) to legally sell insurance in the state. Business owners can and should use the free Licensee Search tool on the DFS website to confirm a broker’s license status before engaging with them.⁶⁷
• Demand Industry Expertise: The risks faced by a tech startup in Brooklyn are vastly different from those of a construction contractor in the Bronx or a restaurant in Buffalo. The ideal broker will have deep experience and a portfolio of clients in your specific sector. They should speak your industry’s language and understand its unique challenges.⁶²
• Confirm Local Knowledge: A broker who primarily operates in another state will not have the granular knowledge required for New York. Ask pointed questions about their familiarity with NY-specific issues like the Scaffold Law, NYC DOB requirements, and regional risks like coastal weather patterns.⁶²
• Evaluate Risk Management Capabilities: A top-tier broker offers more than just policy placement. Inquire about their value-added services, such as risk control consulting, claims advocacy, and loss prevention programs. They should function as a partner in improving your business’s overall safety and resilience.⁶²
• Assess Communication and Service Style: The relationship with a broker is built on trust and communication. During the vetting process, assess their responsiveness and clarity. Ask who your day-to-day contact will be, how they handle urgent requests like certificates of insurance, and what their exact process is when a client needs to file a claim.⁶³

6.3 Building a Long-Term Partnership for Growth

The relationship with an insurance advisor should not be a transactional, one-time event.

It should be a dynamic, long-term partnership that evolves with the business.⁶⁴

One of the most common mistakes leading to underinsurance is the failure to update coverage as a business grows.

A proactive broker will insist on, at minimum, an annual policy review.

This meeting is an opportunity to discuss changes over the past year—new employees, new equipment, higher revenues, new service lines—and adjust the insurance program to ensure there are no emerging gaps in protection.⁴²

Ultimately, the right broker becomes more than a vendor; they become a trusted confidant and a key member of the business’s external advisory team, alongside its accountant and attorney.⁶⁸

They provide the specialized counsel necessary to navigate one of the most complex liability environments in the world, allowing the business owner to focus on what they do best: driving their enterprise forward.

Conclusion: Fortifying Your Future in the Empire State

The commercial landscape of New York offers immense rewards, but it is undeniably fraught with liability risks that are both unique and severe.

As this report has detailed, navigating this environment successfully requires a sophisticated, proactive, and strategic approach to insurance.

It is a domain where ignorance is not bliss; it is a direct path to financial peril.

The core findings of this analysis underscore the critical need for a nuanced perspective.

Business owners must look beyond the state’s legal mandates to understand the broader set of “essential” policies required by the commercial ecosystem of landlords, clients, and regulators.

They must recognize that their greatest exposure often lies in the fine-print exclusions of their primary policies and seek out the specialized shields necessary to fill those gaps.

They must grasp the profound paradox of New York’s liability laws—the coexistence of plaintiff-friendly comparative negligence and defendant-hostile absolute liability—and understand how this duality shapes their specific industry’s risk profile.

Most importantly, businesses must embrace the symbiotic relationship between internal risk management and external insurance coverage.

Strong safety protocols, diligent documentation, and clear incident response plans do more than prevent accidents; they directly improve a company’s insurability, lowering premiums and ensuring access to coverage in a challenging market.

This report serves as a guide, a map through this complex territory.

However, a map is most useful in the hands of a skilled navigator.

The ultimate call to action for any New York business owner is to view liability insurance not as a static, sunk cost but as a dynamic, strategic framework.

This framework must be built through a collaborative, long-term partnership with an expert insurance broker who specializes in the New York market.

In the Empire State, the strongest and most enduring businesses are not just built on innovation, talent, and capital; they are built on a foundation of well-managed risk and an unbreakable liability shield.

Works cited

1. New York General Liability Insurance | State Requirement | EINSURANCE, accessed August 14, 2025, https://www.einsurance.com/insurance-guide/new-york/general-liability-insurance/
2. Real Estate Owner Commercial Insurance Case Study, accessed August 14, 2025, https://mbdgrp.com/nyc-real-estate-owner-commercial-insurance-case-study/
3. Insurance: You Can Hate It, But You Can’t Ignore It | Gelt Guide | Helping Frum Families Live $marter, accessed August 14, 2025, https://geltguide.com/insurance-you-can-hate-it-but-you-cant-ignore-it/
4. New York Business Insurance 2025: General Liability & More …, accessed August 14, 2025, https://www.insureon.com/states/new-york-business-insurance
5. Errors & Omissions (E&O) and Professional Liability defined – Chubb, accessed August 14, 2025, https://www.chubb.com/us-en/businesses/resources/what-is-professional-liability-or-e-o-insurance.html
6. Professional Liability Insurance in New York (E&O) – Insureon, accessed August 14, 2025, https://www.insureon.com/small-business-insurance/professional-liability/new-york
7. New York Business Insurance | Same Day COI, accessed August 14, 2025, https://www.simplybusiness.com/business-insurance/states/new-york/
8. Which Types of Business Insurance Do I Need? | New York Life, accessed August 14, 2025, https://www.newyorklife.com/articles/types-of-business-insurance
9. New York Business Insurance | Progressive Commercial, accessed August 14, 2025, https://www.progressivecommercial.com/business-insurance/new-york/
10. Information for Small Businesses | Department of Financial Services – NY.gov, accessed August 14, 2025, https://www.dfs.ny.gov/consumers/small_businesses
11. Types of Small Business Insurance | The Hartford, accessed August 14, 2025, https://www.thehartford.com/small-business-insurance/types-of-small-business-insurance
12. Liability Insurance – General Coverage for Your Business – GEICO, accessed August 14, 2025, https://www.geico.com/general-liability-insurance/
13. Small Business Insurance In New York | Trust biBerk, accessed August 14, 2025, https://www.biberk.com/where-we-insure/new-york-business-insurance
14. Common Business Risks & How to Prepare for Them – Allstate, accessed August 14, 2025, https://www.allstate.com/resources/business-insurance/five-common-business-risks
15. Cyber Insurance Broker New York – Protect Your Business – LIFE143, accessed August 14, 2025, https://life143.com/business-insurance/cyber-insurance/
16. Slip & Fall Lawsuit Values In New York City – Frekhtman & Associates, accessed August 14, 2025, https://866attylaw.com/slip-fall-lawsuit-values-in-new-york-city/
17. Errors and omissions vs. professional liability insurance – TechInsurance, accessed August 14, 2025, https://www.techinsurance.com/small-business-insurance/compare/professional-liability-vs-errors-omissions
18. Professional Liability Insurance Coverage | The Hartford, accessed August 14, 2025, https://www.thehartford.com/professional-liability-insurance
19. Professional Liability vs. Malpractice Insurance | Insureon, accessed August 14, 2025, https://www.insureon.com/small-business-insurance/compare/professional-liability-vs-malpractice-insurance
20. Professional Liability Insurance and Errors and Omissions Insurance: What’s the Difference?, accessed August 14, 2025, https://www.biberk.com/articles/difference-between-professional-liability-and-errors-omissions
21. Data Breach and Cyber Liability Insurance – The Hartford, accessed August 14, 2025, https://www.thehartford.com/cyber-insurance
22. Cyber Insurance | A New York Insurance Services Company – Integrated Coverage Group, accessed August 14, 2025, https://www.integratedcoverage.com/insurance-services/cyber-insurance/
23. Cyber Liability Insurance | Albany, Buffalo, New York City & Syracuse, accessed August 14, 2025, https://www.paris-kirwan.com/coverage/cyber-liability/
24. New York Cyber Liability Insurance – Newbridge Coverage Corp., accessed August 14, 2025, http://www.newbridgecoverage.com/cyber-liability-insurance
25. The True Cost Of A Data Breach To Small Business – PurpleSec, accessed August 14, 2025, https://purplesec.us/learn/data-breach-cost-for-small-businesses/
26. GOVBUY 2024 NYS Insurance Requirements Understanding Terms, Coverages, and Provisions – Office of General Services – NY.gov, accessed August 14, 2025, https://ogs.ny.gov/govbuy-2024-insurance
27. Buffalo Liquor Liability Insurance | Insuring New York – The Decker Agency, Inc., accessed August 14, 2025, https://www.deckeragency.com/insurance-services/business-insurance/liquor-liability-insurance/
28. Liquor Liability Claims Examples – FLIP Blog, accessed August 14, 2025, https://www.fliprogram.com/blog/liquor-liability-claims-examples
29. Licensing Insurance Guidelines – Buildings – NYC.gov, accessed August 14, 2025, https://www.nyc.gov/site/buildings/industry/licensing-insurance-guidelines.page
30. Scaffold Law – Big I New York, accessed August 14, 2025, https://www.biginy.org/discover/ac/SiteAssets/Pages/Scaffold%20Law/Helpful%20Tools/default/Scaffold-sheets-Feb-2017.pdf
31. The Effect of NY’s Scaffold Law on the Construction Industry – CREA United, accessed August 14, 2025, https://creaunited.com/the-effect-of-nys-scaffold-law-on-the-construction-industry/
32. Scaffold Law’s Effect on New York State’s Construction Industry – Lawley Insurance, accessed August 14, 2025, https://www.lawleyinsurance.com/risk-management/scaffold-law/
33. New York Scaffolding Law: NY Construction Site Accident Lawyers – Pasternack Tilker Ziegler Walsh Stanton & Romano, LLP, accessed August 14, 2025, https://www.workerslaw.com/construction-accident-lawyers-new-york-city/new-york-scaffolding-law/
34. The 10 Biggest Insurance Challenges Facing New York Contractors in 2025—And How BGES Group Is Solving Them, accessed August 14, 2025, https://bgesgroup.com/the-10-biggest-insurance-challenges-facing-new-york-contractors-in-2025-and-how-bges-group-is-solving-them
35. Potential Relief for Contractors: Proposed Changes to New York’s Scaffold Law, accessed August 14, 2025, https://www.liconstructionlaw.com/construction/potential-relief-for-contractors-proposed-changes-to-new-yorks-scaffold-law/
36. New York Negligence Laws – FindLaw, accessed August 14, 2025, https://www.findlaw.com/state/new-york-law/new-york-negligence-laws.html
37. New York Slip and Fall Laws and the Statute of Limitations, accessed August 14, 2025, https://www.nolo.com/legal-encyclopedia/new-york-slip-and-fall-laws.html
38. Business Owner Liability in New York City, NY, accessed August 14, 2025, https://www.injuryclaimnyclaw.com/new-york-city-business-owner-liability-lawyer/
39. What is the negligence law in New York? | Meirowitz & Wasserberg, accessed August 14, 2025, https://www.samndan.com/resources/what-is-the-negligence-law-in-new-york/
40. General Liability Insurance – Buildings – NYC.gov, accessed August 14, 2025, https://www.nyc.gov/site/buildings/industry/general-liability-insurance.page
41. Common Insurance Mistakes to Avoid for Small Businesses, accessed August 14, 2025, https://grandriverinsurance.com/common-insurance-mistakes-to-avoid-for-small-businesses/
42. The Cost of Being Underinsured and How It Hurts Small Businesses, accessed August 14, 2025, https://www.aegisifs.com/blog/cost-being-underinsured-and-how-it-hurts-small-businesses
43. 5 Common Mistakes Businesses Make When Purchasing Insurance, accessed August 14, 2025, https://schlawpc.com/5-common-mistakes-businesses-make-when-purchasing-insurance/
44. The Causes and Consequences of Underinsurance – Bitner Henry Insurance Group, accessed August 14, 2025, https://bitnerhenry.com/the-causes-and-consequences-of-underinsurance/
45. IMA Select: 8 Common Small Business Insurance Mistakes, accessed August 14, 2025, https://imaselect.com/common-small-business-insurance-mistakes/
46. 10 Popular Risk Management Frameworks & How to Choose Between Them – Secureframe, accessed August 14, 2025, https://secureframe.com/blog/risk-management-frameworks
47. Essential Risk Management Strategies for Business – KASE Insurance, accessed August 14, 2025, https://kaseinsurance.com/news/top-business-risk-management-strategies/
48. Common Small Business Risks and How to Manage Them – Nationwide, accessed August 14, 2025, https://www.nationwide.com/business/solutions-center/risk-management/risk-management-for-small-business
49. Essential Risk Management Frameworks for SMBs – Pipedrive, accessed August 14, 2025, https://www.pipedrive.com/en/blog/risk-management
50. What Is the Average Slip and Fall Settlement in NYC? – David Resnick & Associates, P.C., accessed August 14, 2025, https://www.injuryclaimnyclaw.com/blog/what-is-the-average-slip-and-fall-settlement-in-nyc/
51. 9 Reasons A Commercial Insurance Claim Could Be Denied | NEXT, accessed August 14, 2025, https://www.nextinsurance.com/blog/commercial-insurance-claim-denial/
52. Bad Faith Insurance Denials | New York Insurance Claim Lawyer, accessed August 14, 2025, https://www.dinnocenzolaw.com/practice-areas/insurance-denials/bad-faith-insurance-denials/
53. Why is an insurance company denying your business’ claim?, accessed August 14, 2025, https://www.cpsslaw.com/blog/2024/02/why-is-an-insurance-company-denying-your-business-claim/
54. File a Complaint | Department of Financial Services – NY.gov, accessed August 14, 2025, https://www.dfs.ny.gov/complaint
55. Newsday: Long Island contractor gets prison time after worker’s …, accessed August 14, 2025, https://ig.ny.gov/news/newsday-long-island-contractor-gets-prison-time-after-workers-death-exposes-fraud-tax-scheme
56. Long Island Business News: LI contractor jailed for tax evasion and insurance fraud – New York State Inspector General, accessed August 14, 2025, https://ig.ny.gov/news/long-island-business-news-li-contractor-jailed-tax-evasion-and-insurance-fraud
57. Tech E&O Insurance Coverage – Coalition, accessed August 14, 2025, https://www.coalitioninc.com/technology-errors-and-omissions-insurance
58. Tech E&O Liability Insurance | Founder Shield, accessed August 14, 2025, https://foundershield.com/coverage/tech-eo/
59. Insurance for Technology Companies | Tech Insurance | Chubb, accessed August 14, 2025, https://www.chubb.com/us-en/business-insurance/industries/technology.html
60. Cowbell Prime Tech – Technology E&O and Cyber Insurance, accessed August 14, 2025, https://cowbell.insure/prime-tech/
61. How much does a data breach cost a small business? – IMSM, accessed August 14, 2025, https://www.imsm.com/us/news/how-much-does-a-data-breach-cost-a-small-business/
62. New York Business Insurance Brokers: Strategic Risk Management Guide – myshyft.com, accessed August 14, 2025, https://www.myshyft.com/blog/business-insurance-brokers-new-york-new-york/
63. What to Look For in a Commercial Insurance Agent, accessed August 14, 2025, https://www.grangeinsurance.com/tips/commercial-insurance-agent-tips
64. Why small businesses use an insurance broker – Steadfast, accessed August 14, 2025, https://www.steadfast.com.au/well-covered/insurance-for-starting-out-business/why-small-businesses-use-an-insurance-broker
65. The Power of Storytelling — How Personal Stories Can Help Sell Insurance, accessed August 14, 2025, https://www.bluefireinsurance.com/knowledge-center/independent-agent/power-of-storytelling/
66. Storytelling: A Key to Trust for Insurance Agents – Experior Financial Group, accessed August 14, 2025, https://usa.experiorfinancial.com/storytelling-for-insurance-agents/
67. www.dfs.ny.gov, accessed August 14, 2025, https://www.dfs.ny.gov/consumers/help_for_homeowners/insurance/shopping_for_insurance#:~:text=Make%20sure%20you%20are%20dealing,or%20use%20our%20Licensee%20Search.
68. Smith Brothers Insurance, accessed August 14, 2025, https://www.smithbrothersusa.com/