Construction can be a high-risk industry. Unfortunate incidents can take place on any work site for many reasons. Equipment misuse, scaffolding mishaps, weather conditions, inexperienced workers, and more can create an unsafe environment. Construction liability insurance protects businesses from property damage, injuries, and accidents. Eliminating the chances of something going wrong is virtually impossible. It’s […]

If you’re responsible for tracking and verifying your third party’s certificates of insurance, then you should be aware of their importance. Legitimate certificates typically reflect valid coverage. However, in these difficult economic times, some people can’t afford insurance and will forge documents that show they are covered when they’re not. The reason for their dishonesty […]

Liability insurance can save businesses from financial ruin just like it can help individuals. Businesses have the added responsibility to prove their third-party hires (contractors, vendors, etc.) are insured. A negligent party who injures someone else on the job might put their employer in danger of costly litigation. A certificate of liability insurance form proves […]

Starting a business is a major step usually taken by the strongest entrepreneurs. There are many decisions that go into forming and operating a company. There are also just as many details that must be considered. One important aspect is insurance coverage. Insurance offers a level of protection that the most solid business plans can’t. […]

In our previous article, “Transferring Risk: Understanding the Power of Insurance, Indemnification, and Additional Insured Endorsements”, we discussed the powerful trio of insurance, indemnity provisions, and additional insured endorsements. Think of them like parts of a risk mitigation Superman – sleek outfit, special power, and cool cape. So, what is the kryptonite? Anti-indemnity statutes. They […]

myCOI began reporting on cases working their way through the courts related to COVID-19 insurance coverage back in April. Since that time, hundreds of companies have filed lawsuits related to physical property loss of use. Now courts are issuing their verdicts and most favor insurance companies in denying coverage. In this article, we detail how […]

The past few months have been hard, in one way or another, for all of us. We’re in uncharted territory, and that can be scary. As a leader, I have been doing my best to inspire positivity, to encourage people to look for opportunities to grow, strengthen relationships, and find richness within this unique phase […]

Auto insurers made headlines last month issuing more than $10 billion in premium refunds and discounts due to the coronavirus pandemic. The bad news is that not everyone is getting money back when it comes to their other insurance plans. In fact, most policy holders can expect to pay higher premiums for reduced coverages at […]

Companies across the country are ready to get back to work. Most states are slowly lifting COVID-19 restrictions using individual timeframes and guidelines based on the status of their public’s health. Things are changing daily, so the myCOI team collected federal, state, and industry-specific resources so businesses can successfully comply with each state’s reopening roadmap.  […]

Is your company gambling when it comes to risk? You might be on a winning streak, but sooner or later costly third-party injuries, damages, delays, or defects will happen. Contractual risk transfer provides a loss prevention strategy that places the financial burden for claims and litigation with the parties best able to prevent them – […]