Required Business Insurances in New York State Insurance is an essential tool of risk management and helps employers reduce the financial burdens of possible losses. The following will introduce three basic insurances in New York State for businesses. Business Liability Insurance Business liability insurance is not mandatory in New York State, but it can protect your business from financial losses resulting from various claims, including bodily injury, property damage, personal injury, advertising injury and others caused by your business operation. And landlords may require you to maintain a certain level of liability coverage as a condition of your lease. The premiums are typically based on the level of the coverage, the nature of the business, the number of employees, the location of operation, etc. Workers’ Compensation and Disability Insurance In New York State, employers are required to obtain and keep in effect workers’ compensation […]