Come see us at COOPERATOR’S Coop & Condo Expo:

April 7th, 2009 – 9AM to 5PM
Booth 1118, Second Floor
Hilton New York
1335 Avenue of the Americas (& 53rd Street)

Ed will also be giving free insurance advice at the ADVICE BOOTH from 12PM to 1PM.

REGISTER NOW

Mackoul & Associates’ very own President, Edward J. Mackoul, has been featured in “Ask the Experts,” as an insurance wiz.  Habitat Magazine is among the very best in New York City’s Cooperative and Condominium publications. 

 See for yourself!- Click Here to expand your insurance knowledge

The truth is that injuries happen.  Approximately two deaths per day on average are reported due to fatal falls from ladders, scaffolds, buildings, and other height-related incidents according to a study conducted by the National Institute of Occupational Safety and Health (NIOSH).  Falls from scaffolds on average represent 50 deaths annually and approximately 4,500 injuries.  Injuries can result from falling objects or construction debris on the jobsite.

The New York Labor Law holds property owners responsible to compensate workers injured while repairing their building, even if the worker is 100% at fault.  In order to avoid a New York Labor Law Suit from happening to you, follow these basic techniques listed below:

1. Require the contractor to provide a written safety plan and ask them if they will be performing any risky height related work.  Clearly communicate that contractors are NOT to use the property owner’s construction related equipment.
2. Review written contracts with your attorney before signing anything.  A poorly designed contract can leave you without the protection you need.  Your contract should state that all subcontractors must carry the minimum required General Liability limits.
3. Require the general contractor to agree to indemnify and hold you harmless for any losses which occur during the repairs.
4. Require a waiver of subrogation agreement from the general contractor.
5. Require the general contractor and subcontractors to add you as an additional insured on their General Liability policies.
6. Require the General Contractor to supply you with a certificate of insurance BEFORE they are allowed to start working.  After the work has started, you should have a system in place to make sure you obtain updated certificates prior to their insurance expiring.

New York Labor Law- Click to read article
Sample Indemnity Sticker 
Feel free to read Ed Mackoul’s article as published in the Mann Report on the New York Labor Law- “No Insurance = No Entry” 

On February 26th, the IRS (Internal Revenue Service) released new information that will help employers claim credit for the COBRA medical premiums they pay for their former employees.

 The information was unveiled on their website, IRS.gov, which includes an extensive set of questions and answers for employers.  The website also contains a revised version of the quarterly payroll tax return (Form 941), along with instructions that employers will use to claim credit for the COBRA medical premiums they pay.

Read the entire article and access all paperwork by clicking here.

 On January 15th, the seminar, “Managing Costs and Risks in Challenging & Uncertain Economic Times,” was held at the Roosevelt Hotel in New York City.  As moderated by Ms. Andrea Bunis of Andrea Bunis Management, Inc. the event hosted speakers including Edward J. Mackoul of Mackoul & Associates, Inc., Mr. Stephen Beer of Czarnowski & Beer, Mr. Stephen M. Lasser Esq. and David J. Byrne of Stark & Stark Attorneys at Law.

Edward J. Mackoul, President of Mackoul & Associates, Inc. spoke about how coops and condominiums can manage their costs and risks in this challenging and uncertain economic time.  He specifically gave tips on items that can offer direct and indirect savings on your insurance premiums, with five tips on how to minimize risk overall. 
Read the entire article below.
Managing Premiums and Minimizing Risks