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Tip# 1 – The “INSURED” Box
Where do I start? So you’ve gone through the process of obtaining Certificates of Insurance from all your subcontractors/vendors/franchisees/tenants. What’s next? You want to review them, right? You’re probably thinking ‘Where do I start’? Start at the beginning! Let’s take a look at one of the very first boxes at the top of an ACORD […]
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What Can Go Wrong if Your Organization Doesn’t Capture COIs?
In one of our latest posts entitled, “Why Bother Getting a COI For Each New Subcontractor or 3rd Party Contract?” we discuss why it’s important to secure a Certificate of Insurance (COI) for each vendor that does work for your organization. The post explains that COIs are designed to prove status of insurance including items […]
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Why Bother Getting a COI For Each New Subcontractor or 3rd Party Contract?
If your organization has gone through the process of thoroughly vetting subcontractors or 3rd party vendors for a job, then what’s the purpose of securing a Certificate of Insurance (COI) for each one of them? Afterall, those involved in the insurance process, whether an agent or the insured themselves, all seem to understand that a COI isn’t […]
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3 Considerations For Additional Insured Endorsements
We’ve discussed additional insured status in several of our previous posts because it’s an important topic for those that are contracting out services, using vendors, leasing to tenants, and so on. If additional insureds are listed incorrectly or are left off of the endorsements altogether, the consequences can be very severe and will not hold […]
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Key Items to Look For When Collecting & Reviewing Endorsements
As we discussed in a previous post, it’s incredibly important to collect and review additional insured and waiver of subrogation endorsements to ensure your vendor is properly covered and has the right documentation in place. It’s equally important to understand that reviewing the COI simply isn’t enough as often times it’s impossible to understand if […]
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The Importance of Collecting & Reviewing Additional Insured and Waiver of Subrogation Endorsements
We know how demanding your job can be, and often times finding the time to review endorsements to ensure your vendor’s insurance agency has done their job appropriately can be yet another task that falls to the wayside. With so many other priorities on your plate, collecting and reviewing your vendor’s additional insured and waiver […]
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