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The Construction Industry Prefers myCOI for Certificate Tracking
Construction isn’t as simple as some people might think. Contractors have to be hired. Materials must be delivered and assembled. Permits must be acquired and timelines followed. Anything can go wrong during a project. Equipment can malfunction. Weather can delay progress. On-site injuries can send projects spiraling beyond budgets and deadlines. A construction company has […]
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What Exactly Is Waiver of Subrogation, Anyways?
Most organizations that utilize the services of third party vendors or subcontractors have to deal with contracts often. Those contracts are often in the form of written agreements, meaning that the term ‘Waiver of Subrogation’ is something most likely seen often. Does your organization use contracts for vendors or subcontractors? Does your compliance staff know […]
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Accounting Ledgers Versus Insurance Ledgers: Why Every Dollar of Coverage Matters
If your organization’s accounting team was off by $100 or $1,000 dollars in their ledger, wouldn’t the team work hard to try and find why the money was off? Doesn’t every dollar matter when it comes to ensuring your accounts are balanced? The same should be just as true for your compliance team that’s in […]
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Is Your Company Covered For Mold Exposure Today? If Not, What To Do About It.
According to IRMI, the growth of mold and fungi claims have been exponential, with more than 10,000 mold claims currently pending in the United States, particularly in Florida, California, Texas, and Arizona. While mold and fungi aren’t things that we like to associate with businesses and they probably aren’t the first thing that come to […]
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You Have a Certificate of Insurance On File… Is Your Organization Covered?
What happens if your organization has a certificate of insurance (COI) on file for all of your third party vendors and subcontractors, but you don’t have the contract? How can you be sure your organization is covered when it comes to proper coverage and compliance of all of your workers? Your compliance team may believe that having a […]
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Should Your Organization Withhold Payment For Insurance Non-Compliance?
What happens if one of your third party vendors or subcontracts is deemed non-compliant after your team has reviewed the certificate of insurance and corresponding endorsements and coverage information? Should you withhold payment to that individual? How can you expedite the process to gain compliance as soon as possible to get that individual back on […]
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