Two terms that often confuse risk teams are “loss payee” and “additional insured.” While both can collect benefits from an insurance policy, they have different uses. In the real estate industry, too many landlords and property managers ask for loss payee status on a tenant’s general liability insurance policy when that does not best serve […]

We have some good news and some bad news. Let’s start with the bad: it has been a difficult year, which has created the hardest insurance market in over a decade. That means businesses and risk managers are feeling those negative effects when procuring and renewing insurance. Coverage is going down and rates are going […]

Until the mid-1980s, pollution liability was covered under the standard commercial general liability (CGL) policy. However, insurers began excluding pollution liability under the CGL policy, creating the need to purchase separate coverage for pollution liability. Contractors now must purchase Contractor Pollution Liability (CPL) coverage to ensure protection. For many contractors, environmental risk has traditionally fallen […]

Carefully managing one insurance policy can be complicated enough, but there are many scenarios when multiple sources of coverage may protect you, your hired third parties, and/or companies you enter business relationships with. In the event of a loss or a claim that could be covered by more than one insurance policy, the process for […]

The legal concept of subrogation means to substitute the rights, duties, and debts of an insurance claim to another party—specifically, the one at fault.  While your insurance provider must, as part of your agreement with them, pay up for claims in the event of covered cases, there are times when another at-fault party’s insurance provider […]