eg bowman
     

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SUCCESS IS FOUNDED ON COMMITMENT TO HARD WORK
EG Bowman recognizes that success is built on more than trust.  Our clients expect and receive the kind of service necessary to create a long term relationship.  Not only do we develop insurance solutions to existing concerns but we pride ourselves on the ability to identify potential problems before they become serious.  That’s why our business has continued to expand for over 60 years.

industry

Industries we serve include:
• CONSTRUCTION  • INVESTMENT BANKING
• COSMETICS • JEWELRY 
• EDUCATIONAL • MANUFACTURING
• ENERGY • PHARMACEUTICALS
• ENTERTAINMENT • REAL ESTATE
• FINANCIAL • RELIGIOUS
• HEALTHCARE • UNIONS
   

LOSS CONTROL & SAFETY ENGINEERING
Our dedication to loss control and safety services designed for each company on a specific basis has reduced employee industries, cut financial losses and lowered insurance premiums. We provide highly skilled specialists in an ongoing effort to keep any insurance related expenses to a minimum.  EG Bowman’s Loss Control and Safety Engineering team has initiated a variety of special programs designed to protect client assets.

We cover the following areas:
• Assistance with evaluating the work on a
service provider
• Evacuation and Crisis Management
• Fire brigade training
• Fire protection inspections and evaluations
• Inspections to identify potentially hazardous conditions
• Maintenance surveys and reviews of maintenance-related proposals
• Reviews of company audit claims
• Safety Programs

RISK MANAGEMENT
EG Bowman Insurance Brokerage participates in risk-management insurance needs for an estimated 10 percent of the Fortune 500 companies in a variety of industries, including film, television, cosmetics, telecommunications, manufacturing and retail establishments. 

risk

We have developed cost-effective insurance related programs for many municipal and public agencies in New York and New Jersey. EG Bowman also provides the insurance needs for private individuals including corporate executives, entertainers, athletes, politicians and other professionals.  We analyze individual needs, personal interests and long-and-short term objectives to protect each client’s assets and investments.  On the individual level or for an entire company, EG Bowman applies the same careful, personalized approach.

WE CAN DO THE SAME THING FOR YOU
Through hard work and dedication to our clients for over 60 years, EG Bowman has developed into one of the nation’s most recognized and honored insurance brokers.  We are proud of that record and dedicated to working even ahrder for our clients in the coming years ahead.

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EG BOWMAN COVERS THE MOST IMPORTANT
CONSIDERATIONS FOR PERSONAL AND BUSINESS NEEDS

Our clients count on our extensive service lines to ensure their absolute safety concerns. EG Bowman works with some of the largest and most reputable insurance companies in the nation to deliver peace of mind - and to fulfill the promise of reliability and confidence. Review our expanded list of services by clicking on each image for complete details.

COMMERCIAL SERVICES
Automobile
Boiler & Machinery
Equipment Breakdown
Cyber / Technology
Liability
Directors & Officers
Employee Practices
Liability
Environmental
Fidelity / Crime
Fiduciary
General Liability
Inland Marine
Intellectual Property
International / Foreign
Operations
Kidnap / Ransom
& Extortion
Marine
Media
Political Risk
Product Recall
Property
Technology Errors
& Omissions
Terrorism
Trade Credit
Umbrella
Warranty &
indemnity
Workers' Compensation

 

PERSONAL LINES

Apartment/Renter
Auto
Boat/Yacht
Condo/Co-op
Excess/Umbrella

Flood
Furs/Cameras/Jewely Floaters
Home Owners
Motorcycle
RV (Recreational Vehicle)

 

COMPLETE LIST OF ACCIDENT & HEALTH

Dental
Disability
Long Term Disability

Medical
Travel Accident
Vision

 

SURETY BONDS

Contact Bond
Court & Fiduciary
Government Bonds
License & Permit

Lost Instrument
Miscellaneous
Performance & Bid
Stamp

 

 

 

 

 

EXPANDED DETAILS OF COMMERCIAL LINES

auto

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Auto insurance is mandatory in many states. If you are stopped for a moving violation and it is determined that you are operating your vehicle without insurance, you could face the following penalties and expenses: 
• A fine for driving uninsured
• A suspension of your vehicle registration
• A suspension of your driver's license
• Restoration fees to restore your vehicle registration
• Restoration fees to restore your driver's license
• Vehicle impoundment

In addition, your vehicle may not be driven by anyone while the registration is suspended. There are a variety of additional optional coverages that can be purchased with Automobile insurance, some are mandatory with mandatory minimum limit requirements.

fix

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Boiler & Machinery / Equipment Breakdown coverage is the latest reference to what has been traditionally referred to as boiler and machinery insurance. Equipment Breakdown policies cover more than just boilers and production machinery. It also covers electrical systems, air-conditioning systems. It is not just for building owners.

Electrical systems may be subject to breakdown caused by electrical arcing, which is basically a short circuiting of the system. They may also be subject to power quality problems and other types of physical factors, including moisture, heat and cold.

Electronic equipment or equipment that has some type of electronic component is also covered: Transformers, electrical switch gears, motors, voltage regulators and generators; as well as computers, fax machines, copiers and telephone systems. Mechanical equipment, including production machinery, compressors, gears, fans, blowers and pumps are also covered.

cyber

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Cyber / Network Liability: Traditional liability products do not address Internet exposures and the risks involved in Internet business have blossomed with the Net itself. Cyber Liability addresses the first- and third-party risks associated with e-business. The risk category includes privacy issues, the infringement of intellectual property, virus transmission, or any other serious trouble that may be passed from first to third parties via the Web.

Network Security insurance coverage protects you from losses associated with unauthorized access to or theft of your data or e-business activities, computer viruses, denial of service attacks, as well as alleged unauthorized e-commerce transactions by electronic theft or sabotage. Data/system integrity problems, denial of service losses, and security breaches could all cause you to suffer significant revenue losses as well as represent a catastrophic blow to your organization's reputation.

Property and casualty policies usually cover tangible property and cannot be relied upon for protection from electronic losses.

executives

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Directors & Officers: Since a director can be held personally responsible for acts of the company, most directors and officers will demand to be protected rather than put their personal assets at stake. Directors & Officers Liability provides financial security for the directors and officers of your company in the event they are sued for acts, errors or omission in relation to the performance of their duties for the company.

Directors and Officers Liability can usually include Employment Practices Liability and/or Fiduciary Liability as well other management liability coverages. Employment Practices Liability involves harassment and discrimination suits, and is where the majority of your exposure will probably be. Employment practices suits constitute the single largest area of claim activity under D&O policies. Over 50% of D&O claims are employment practices related.

Directors and Officers Liability covers claims from stockholders, employees, and clients that may be made against the company, and against the directors, individually, of the company. Common claims against Directors and Officers are:

  • Mismanagement of operations or company assets
  • Self-dealing and conflicts of interest
  • Misrepresentation during the sale of company assets
  • Misrepresentation in a private placement prospectus
  • Acts beyond authority granted in by-laws
  • Violation of certain state and federal laws
  • Breach of fiduciary duties

employee

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Employment Practices Liability provides protection for an employer against claims made by employees, former employees, or potential employees. It covers discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment-related allegations. It covers your firm, including its Directors and Officers. Companies may be liable from the pre-hiring process through the exit interview, even if the employee was never hired.

environmental

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Environmental: The risks tied to environmental accidents are enormous and growing. The real threats to average companies are more mundane and far more common:
  • Asbestos and mold. Companies replacing air ducts need to be mindful of the potential to spread these materials.
  • Lead paint. Painting in buildings erected before 1978 require testing to determine if lead paint is present and if it is present, measures must be taken to contain it.
  • Dust. Silica dust from concrete block cutting could be an issue, and would require contractors to contain it.
  • Fuel spills. Many companies have fuel and lubricant stations on site. Spills of these materials can require serious and seriously expensive remediation.
  • Storm water runoff. Rain water can create a risk for companies if it affects wetlands, streams or surrounding areas.
  • In the United States, companies may be liable for pollution incidents that took place before tougher standards were imposed even if the company had fully complied with earlier standards. Regulators can force companies to perform environmental remediation even on their own properties or on property acquired from and polluted by others. The European Union demands remediation and correction of biodiversity damage, which may require fully restoring damaged resources or the creation of similar resources elsewhere. The European Union Environmental Liability Directive applies to toxic waste, poisonous chemicals and environmental damage allegedly caused by the release of genetically modified organisms.

cops

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Fidelity/Crime Insurance protects organizations from loss of money, securities, or inventory resulting from crime. It can cover losses caused by employee dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, and other criminal acts.

Because crime-related losses are not typically covered by most property insurance policies, crime protection insurance is a necessary component for any business. Unfortunately, the majority of businesses don't purchase enough crime protection. According to a recent study by the Association of Certified Fraud Examiners (ACFE) you can expect to lose up to 6% of your total annual revenues by employee fraud.

ficuciary

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Fiduciary Liability Insurance pays, on behalf of the Insured for the legal liability arising from claims for alleged failure to prudently act within the meaning of the Pension Reform Act of 1974. In addition to pension and retirement plans the Act includes group life and medical expense plans as well. An Insured includes a trust or employee benefit plan, any trustee, officer or employee of the trust or employee benefit plan, employer who is sole sponsor of a plan and any other individual or organization designated as a fiduciary.

If you are an owner or officer who makes decisions about your company's 401(k) plan or other qualified employee benefit plan(s), your personal assets are at risk. Under the Employee Retirement Income Security Act of 1974, fiduciaries can be held personally liable for losses to a benefit plan incurred as a result of their alleged errors, omissions, or breach of their fiduciary duties. Claims can be brought by plan participants, participants' legal estates, the Department of Labor, and the Pension Benefit Guaranty Corporation.

GENERAL LIABILITY

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General Liability insurance protects the "insured" from lawsuits and similar claims that come within the coverage of the policy. In general, damage caused intentionally as well as most contractual liability are not covered under the general liability insurance policies. When a claim is made, the insurance carrier has the duty (and right) to defend the insured. The legal costs of a defense normally do not affect policy limits unless the policy expressly states otherwise. Generally, liability insurance covers only the risk of being sued for negligence or strict liability. Liability insurance does not protect against liability resulting from crimes or intentional torts committed by the insured.

stock

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Inland Marine Insurance can cover losses to goods or property that occur at your premises, while being transported to or from your premises or in storage, it also can cover construction or renovation projects. Most standard property policies limit or exclude coverage for these items, where an Inland Marine policy may be more suitable:
Accounts Receivable
Bailee's of Customers Goods
Builders' Risk
Camera and Photographic Equipment
Communication Towers & Equipment
Computer Coverage
Contractors Equipment
Commercial Floaters
Dealers
Exhibitions
Fine Arts
Furriers
Golf Equipment
Guns

Installation
Jewelers
Leased Property
Mobile Medical Equipment
Motor Truck Cargo
Museums
Musical Instruments
Processing Risks
Rigger's Liability
Scheduled Property
Transportation
Trip Transit
Valuable Papers
Warehouse Legal

copyright

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Intellectual Property Insurance coverage protects companies for copyright, trademark or patent infringement claims arising out of the company's operation. It pays the defense costs and any judgment up to the policy limits. You could be sued by a competitor for infringing on an idea, patent, copyright and trademark or intellectual property belonging to someone else.

credit

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International/Foreign Operations Insurance

kidnap

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Kidnap, Ransom & Extortion Insurance provides coverage for kidnappings, ransom or extortion. A basic policy can cover items such as ransom payment, loss of income, interest on bank loans, and medical/psychiatric care. Insurance companies can provide crisis management teams and employee training in what to do in a hostage situation to minimize losses due to kidnap or ransom. Kidnap and Ransom insurance also can provide assistance to the family and business with regard to independent investigations, negotiations, arrangement and delivery of funds, and numerous other services vital to a safe, speedy and satisfactory resolution. This coverage should be kept confidential.

boat

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Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.

 

media

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Media Liability Insurance covers liability that may occur from the errors and omissions of the gathering and distribution of information, written or spoken words and resulting in claims alleging financial loss. Media Liability Insurance protects you against claims arising out of. Media Liability Insurance provides coverage against defamation and invasion of privacy claims including copyright and/or Trademark infringement. Any company that distributes information to the public through a web site or other means of communication (including blogging or email) has the same exposures of any publisher or broadcaster.

political

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Political Risk insurance provides protection from loss or damage that may occur as a result:
• Political violence, such as revolution, insurrection, civil unrest, terrorism or war;
• Governmental expropriation or confiscation of assets;
• Governmental frustration or repudiation of contracts;
• Wrongful calling of letters of credit or similar on-demand guarantees;
• Business Interruption; and
• Inconvertibility of foreign currency or the inability to repatriate funds.

car

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Product Recall: Product contamination and ultimately product recall are becoming prevalent risks for many industries. Companies involved in the commerce chain, including processors, distributors and retailers, can be affected by a product contamination or recall. Whether a first-party or a third-party participant, the effects of a recall can be both lengthy and expensive.

In the event of an accidental contamination, malicious product tampering (MPT) or product extortion, coverage is provided for recall expenses, business interruption costs, rehabilitation expenses and consultant and advisor costs. We utilize best-in-class, industry-recognized expert consultancies, such as NSF International and Edelman, to assist in quality audits, product safety education and crisis response. We provide improved coverage certainty through many policy definition clarifications. We have an expanded scope of coverage through fewer policy exclusions. Limits are available of up to $50 million for MPT and $10 million for Accidental Contamination. First product of its kind to offer the following additional coverage options on a menu basis:

  • Product Refusal protects against the refusal of an insured product during a scheduled delivery because of a report to the public of it to cause bodily injury and because of bodily injury that has been caused by a similar product
  • Third Party Recall covers any product recall liability of an insured product when consumption or use of the product will result or has resulted in bodily injury or property damage within 365 days
  • Intentionally Impaired Ingredients covers the contamination or impairment of an insured product which occurs due to an ingredient supplied to the insured where such contamination or impairment was intentional and wrongful, but not malicious (coverage may be available by endorsement to a MPT policy)

Target classes include fruit, vegetables, ingredient suppliers, dairies, bakeries, beverages, supermarkets (except meat packing), distilled spirits, beer and wine, confectionaries and snack foods.

mall

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Property insurance provides protection against most risks to real (buildings) and personal property (contents), such as fire, theft and some weather damage. This is a general reference includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main ways referred to as Special Form perils and named perils. Special Form perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion and theft.

computer

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Technology Errors and Omissions Liability protects your company from claims in the event your client sues you for programming errors, software performance, or the failure of your work to perform as promised in your contract. The policy includes legal defense costs, including court costs, up to the coverage limits on your policy. Coverage extends to both employees and subcontractors, and can be worldwide in scope.

terror

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Terrorism insurance is purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities.

 

 

credit

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Trade credit insurance, business credit insurance, export credit insurance, or credit insurance is an insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy. This insurance product is a type of property & casualty insurance. Trade Credit Insurance can include a component of political risk insurance which is offered by the same insurers to insure the risk of non-payment by foreign buyers due to currency issues, political unrest, expropriation etc.

Trade credit is offered by vendors to their customers as an alternative to prepayment or cash on delivery terms, providing time for the customer to generate income from sales to pay for the product or service. This requires the vendor to assume non-payment risk. In a local or domestic situation as well as in an export transaction, the risk increases when laws, customs communications and customer's reputation are not fully understood. In addition to increased risk of non-payment, international trade presents the problem of the time between product shipment and its availability for sale. The account receivable is like a loan and represents capital invested, and often borrowed, by the vendor. But this is not a secure asset until it is paid. If the customer's debt is credit insured the large, risky asset becomes more secure, like an insured building. This asset may then be viewed as collateral by lending institutions and a loan based upon it used to defray the expenses of the transaction and to produce more products. Trade credit insurance is a trade finance tool.

Trade credit insurance is purchased by business entities to insure their accounts receivable from loss due to the insolvency of the debtors. The cost (premium) for this is usually charged monthly, and is calculated as a percentage of sales for that month or as a percentage of all outstanding receivables. Trade credit insurance usually covers a portfolio of buyers and pays an agreed percentage of an invoice or receivable that remains unpaid as a result of protracted default, insolvency or bankruptcy. Policy holders must apply a credit limit on each of their buyers for the sales to that buyer to be insured. The premium rate reflects the average credit risk of the insured portfolio of buyers. In addition, credit insurance can also cover single transactions or trade with only one buyer.

umbrella

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Umbrella insurance is a pure liability policy that is over and above the coverage afforded by the regular underlying policies (General Liability, Auto Liability and Employer's Liability). An Umbrella policy is considered excess insurance and has 2 parts. The first part, the excess part, goes into effect only when all underlying policies are totally exhausted, while the second part, the umbrella part, is able to "drop down" to fill coverage gaps in underlying policies. Therefore, an umbrella policy can become the primary policy "on the risk" in certain situations. Umbrella insurance provides additional liability coverage above the primary limits of underlying insurance policies. It can also provide coverage for claims that may be excluded by the primary policies.

warranty

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Warranty and indemnity insurance (W&I) helps protect a seller or buyer from financial loss, resulting from inaccuracies in the representations and warranties provided by the seller as part of an acquisition or sale of a company or a business.

Since the transaction documentation and process will vary depending upon the nature of a particular transaction, each W & I policy is tailored to address the unique requirements of each transaction. The underlying loss typically covered by the W & I policy is the loss resulting from an inaccuracy of the warranties and indemnities relating to an acquired company or an acquired business. In most transactions, one of the most heavily negotiated sections of the acquisition agreement is the section setting forth the warranties and indemnities relating to the acquired company or the acquired business. These warranties provide critical information to the buyer about the company or business it is acquiring and lay the groundwork for indemnification in the event the company or the business is not what the seller purported it to be. These warranties have the effect of allocating a great deal of risk in a transaction therefore, most applicants for W & I insurance request coverage for all or some of these warranties and indemnities.

hospital

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Workers' compensation provides wage replacement and medical, death and rehabilitation benefits to employees injured in the course of employment. Workers' Compensation and Employers' Liability Insurance make two parts of insurance required by law in many states for all business owners who have any employees. The employment relationships determine the necessity of having proper Workers' Compensation policies to protect both the employees and the employers.

Workers' Compensation Insurance provides payments to employees who suffer a work-related injury or occupational illness. This coverage is referred to as Part One, according to which the insurance company agrees to pay all compensation to an injured worker. Medical care, temporary disability benefits, permanent disability benefits, vocational rehabilitation services, and death benefits make five types of Workers' Compensation benefits.

Employers' Liability Insurance protects your business against lawsuits due to employment-related injuries or illnesses. The lawsuits can come from the employee, his/her family members, relatives and third parties. The Employers' Liability portion is usually offered under Part Two and provides additional coverage included in Workers' Compensation policies. Employees who are injured due to an employers' negligence can pursue their employer for compensation even in case the business goes into liquidation. Employers' Liability will not cover you against claims such as wrongful dismissal, sexual discrimination etc.

   

 

 
     
eg bowman

FEATURE ARTICLE: KEEP YOUR BUSINESS ABOVE WATER WITH BUSINESS INTERRUPTION (BI) INSURANCE
BI insurance covers the income you’d lose if your plant were to shut down because of an insured peril such as a fire, flood, storm, earthquake or terrorism.  There’s a type of business interruption insurance that can even cover you if you have to shut down because a key supplier’s plant is offline...  


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