Expert Insurance Knowledge
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Software for Insurance Agents Can Help Grow Your Agency
General insurance software can help your agency achieve its potential. But what does that mean exactly? Agency management systems for insurance can automate typically routine tasks that take too much time for people to manually complete. Electronic insurance systems can also reduce the number of errors that occur. Software for insurance agents can increase productivity […]
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Why a Certificate of Insurance Is Not Enough (and What To Do About It)
Compliance managers and administrators have many tasks on the to-do list other than collecting certificates of insurance (COI) for every vendor and contractor—which itself can feel like a full-time job. Finding additional time to review insurance policies and endorsements is difficult, but extremely important. They say, “the devil is in the details” and when it […]
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Moving Beyond Spreadsheets to Manage Construction Risk
If you’re in construction, you’ve probably managed your fair share of certificates of insurance (COIs). COIs should be required from every party working or stepping on a construction site. The incredibly high level of inherent risk on a construction site means they are one of the most critical pieces of information construction managers and general contractors can […]
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Finding a Certificate of Insurance Online is a Risk
Finding a Certificate of Insurance Online is a Risk The availability of insurance forms online should make a compliance admin’s job easier than ever. However, this isn’t always the case. Since the untrained and unaware can easily download forms and try to fill them out themselves, compliance admins might struggle with all of the fraudulent […]
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Evening the Score: Monitoring and Managing Total Cost of Risk
How much does risk management cost your company? If you don’t know the answer, your business might not be managing total cost of risk, or TCOR, as a key performance metric. Estimates show less than half of companies actively track TCOR. However, by not assessing risk and the associated costs, companies ultimately create more liability […]
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Contracts, Force Majeure, and COVID-19: Where Do Things Stand Now?
In March 2020, as the pandemic took hold, we predicted an often-overlooked contract clause would become a hotly contested issue—and we were right. As coronavirus prompted government stay-at-home orders and establishments to close for safety concerns, businesses looked to their contracts for protection. They started with a commercial contract clause called “force majeure.” However, most […]
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