Hello All,

Gino A. Orrino here kicking off my daily informative blog concerning insurance issues for the consumer in the greater Tri-State Area.

Lincoln General Insurance Company

AM Best has downgraded its rating of the York, PA based company from a B- (fair) to a D (poor).  For those contractors currently with Lincoln paper on the auto or cgl watch out it will be difficult to collect checks according to your contracts.  Most contracts in NYS require a B+ rating or higher.  Whether you are on the job or waiting to collect on a closed job chances are your GC or client will not be issuing checks due to the downgrade.  Our office has seen it time and time again with new clientele operating on the wrong kind of contractor paper (policy) to be working in NYS, moreover 5 Boros of NYS.  Check with your policies!!!!  In this market you need the experience to provide you with the right policy so you can focus on your bids and margins.  Go to www.orrinocapital.com for more information.

Sincerely,

Gino A. Orrino, President

Orrino Capital Services, LLC is an independent agency operating out of two locations in Corona, NY & West Babylon, NY servicing the 5 Boros of NYC, Long Island, Westchester, Rockland, Putnam Counties, NJ, CT PA & VT.  OCS provides all lines of insurance including business, contractors insurance, personal, life, health, and bonds.

This entry was posted on Friday, September 11th, 2009 at 5:07 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.