An injury happens on your jobsite and a lawsuit gets filed against your company as the general contractor. As an additional insured, you seek coverage under your subcontractor’s policy. Are you covered when things head to court? Unfortunately, the answer is “maybe.”   The first step for the insurance company is determining if they have a […]

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 […]

Commercial trucking is extremely important to the US economy and its citizens. In fact, if the $700 billion dollar trucking industry stopped, so would our country. Within 24 hours we would have hospitals without supplies, service stations without fuel, and no US mail and package delivery. After day one food shortages begin and assembly lines […]

Companies entering a work contract place the burden of risk closest to the party best able to prevent a loss. In the construction industry, a general contractor would transfer liability to subcontractors in two key ways: 1) indemnification language in the contract and 2) requiring that they be added as an “additional insured” on the […]

Authored by Kristen Nunery, myCOI Founder and CEO 2019 has been a year of growth – literally and figuratively. myCOI celebrated its 10 year anniversary this year, and it’s evident that we have moved far beyond our time as a scrappy start-up. After relocating our headquarters to downtown Indianapolis in 2018, we have managed to […]

Risk management keeping you up at night? Worrying about loss prevention can be a nightmare. Additional insured endorsements represent a great way for getting some much-needed sleep by keeping risk closest to the parties creating it. Insurers often establish coverage for additional insureds through blanket endorsements, but without some forethought, these may not be as […]

Follow-form endorsement quiz: A company purchases umbrella and excess insurance policies for liability coverage in addition to its primary policy. A claim exceeds the limits of the primary policy but falls within the coverage threshold of the additional policies. Is the company free from out-of-pocket costs? If you answered “not necessarily,” you get an A. […]

Insured: We’re updating our contract language. Do you have any suggestions for our standard insurance requirements? Agent: I’d be happy to help! For the standard, you’ll want to require 1/2/2 limits on GL with the 2010 and 2037 AI endorsements or equivalent, primary & non-contributory, and a waiver of subrogation, oh, and at least $1M […]

For many insurance agents and brokers, dealing with Certificates of Insurance (COIs) is an everyday occurrence. However, the focus is often on COI issuance rather than COI collection and review. Responding to a request for a COI and ensuring the policy includes the required coverage is a critical part of protecting your clients, but managing their inbound COI’s […]

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 […]