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It’s Bond…Fidelity Bond!

As a business owner, you make decisions every day that have a direct impact on the success of your business. When you hire new employees, you normally have an interview process by checking the background of your potential candidates. But does this mean your business is protected from theft or fraud? No. Many companies decide to purchase a Fidelity Bond for added coverage for their business.

Fidelity Bonds are an insurance product that protect you or your customers against employee dishonesty such as theft. Fidelity bonds are usually optional to obtain, but are also required at times (e.g. employee benefit plan theft protection). Getting contractor bonding insurance through fidelity bonds is something all contractors should consider.

There are two types of Fidelity Bonds:

First-Party Fidelity Bonds: This type covers your business property and assets in the event that one of your employees steals it. Your regular Property Insurance policy won’t cover theft by your own employees. A client won’t ask you to carry a first-party bond; if you’re interested in this type of coverage, you’ll have to decide with help from your agent whether it makes sense.

Third-Party Fidelity Bonds: This is the type most professionals are likely to need and the one that your clients are likely to request. The Third Party Fidelity Bond policy provides coverage for theft of clients’ property by an employee of the insured. This policy is typically required to satisfy a contractual requirement with a client. As most businesses are increasingly moving towards using outside service providers, so has the requirement for third party employee theft coverage. Coverage can be written on a blanket form to cover all clients or scheduled on a contract specific basis.


A first-party Fidelity Bond protects your business against employee misrepresentation and fraud, while a third-party bond protects you against the same wrongful acts if they are committed by third-party contractors. It is generally the responsibility of the contractor to have this bond for their employees, but as a business owner, you can ask the contractor to provide this insurance when you enter into a working relationship.


Whether you are a contractor or a business owner and you may reach a point where you need bonds, please feel free contact us at 718-784-9292 and we will be more than happy to assist you.

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NYC Department of Buildings (DOB) Permit Requirements.

What licenses do I need to pull a DOB permit?


Licensing Insurance DOB Guidelines:

  • Your license/registration/tracking number(s) must appear on all forms.
  • Your business name and address must match Department records.
  • Any corrected forms must be submitted by your insurance producer or insurance broker.

The Certificate Holder box must read:

New York City Department of Buildings
 Attn: Licensing & Exams Unit
 280 Broadway, 6th Floor
 New York, NY 10007
  • If you update a cancelled policy, you must submit a letter of reinstatement along with the updated insurance certificate.
  • All information must be typed. Handwritten corrections will not be accepted.
  • Updated insurance certificates must be submitted to the email address that corresponds with the license type.
  • Insurance certificates are required to be in PDF
  • Pictures of insurance certificates will not be accepted.
  • Insurance email subject line must include a license number(s) and license type(s).
    NOTE:Insurance Certificates will no longer be accepted via fax

General Liability Insurance

  • Each occurrence must be a minimum of one million dollars.
  • Your insurance producer/broker must provide an original signed and notarized Certification by Broker

Accepted Forms:

  • Acord 25 (2013/04) – Certificate of Liability Insurance
  • Acord 25 (2014/01) – Certificate of Liability Insurance
  • Acord 25 (2016/03)– Certificate of Liability Insurance

Workers Compensation Insurance

  • The business telephone number is required on C105.2 (9/15) and GSI 105.2 (2/02).

Accepted Forms:

  • Certificate of Workers’ Compensation Ins (NYS Insurance Fund only)
  • 2 (9/15) – Certificate of Workers’ Compensation Insurance
  • GSI 105.2 (2/02)– Certificate of Participation in Workers’ Compensation

Disability Insurance

  • A business telephone number must be included.
  • Your insurance policy number and Federal Employer Identification Number (EIN) must appear on your Disability certificate.

Accepted Forms

  • DB 120.1 (12-13)– Certificate of Compliance with Disability Benefits Law
  • DB 120.1 (09-15)– Certificate of Compliance with Disability Benefits Law
  • DB 120.2 (02-13)– Certificate of Compliance with Disability Benefits Law

Exemption from Workers’ Compensation & Disability Insurance

You may submit an Affidavit of Exemption from worker’s compensation and disability insurance if there are no employees in your company.

NOTE: General Contractors (Registered/Non-Registered) and Safety Registration applicants cannot submit an affidavit of exemption.

  • You must submit the original Affidavit (not a copy).
  • Your Affidavit must have an original signature and date.

Accepted Forms:

Submitting Certificates

Email your scanned PDF Insurance Certificates to one of the email addresses below:

  • Elevator Agency Directors – ElevatorAgencyinsurance@buildings.nyc.gov
  • Oil Burner Equipment Installers – Oilburnerinsurance@buildings.nyc.gov
  • Plumbing and Fire Suppression Contractors – PlumbingandFireSupinsurance@buildings.nyc.gov
  • Master and Special Electricians – Electricianinsurance@buildings.nyc.gov
  • Riggers and Sign Hangers – RiggerandSignHangerinsurance@buildings.nyc.gov
  • Registered General Contractors, Safety Registrations, and Insurance Tracking Numbers – GCinsurance@buildings.nyc.gov