Category: Risk Management Strategies & Insights

myCOI Celebrates 10 Years of Innovation and Growth

November 15, 2019

myCOI, a company specializing in technology for risk prevention, started in one of the riskiest times in US history. Roll back 10 years. The United States was in its worst economic crisis since the Great Depression. Many large corporations were barely treading water. The housing bubble burst. Countless small businesses closed their doors forever. The […]

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Contract Best Practices for Transferring Risk Using Insurance Requirements

October 30, 2019

myCOI Team,  Per your advice, we have zeroed in on insurance compliance with our trade contractors and vendors as part of our new risk mitigation strategy. We review every Certificate of Insurance (COI) for the required coverages and keep all the signed contracts stored in the system. While our loss history is getting better, we […]

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Five Frontline Employee Solutions for Risk Management Problems

October 25, 2019

We’ve all heard the saying, “If you aren’t part of the solution, you’re part of the problem.” This phrase seems truest in the world of risk management and insurance compliance where all work centers on preventing and combating trouble. Even in a field designed to handle bad news, everyone hates sending an email with the […]

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Managing Construction Risk for Better Odds of Project Success

September 25, 2019

Lots of things can ruin a construction project. Financing, cost overruns, Mother Nature, material defects, permits, and the list goes on. Of everything that takes down a good project, insurance compliance shouldn’t be one of them. However, 74% of organizations inconsistently use risk management practices in project management (PMI). On a construction site, that risk […]

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Understanding Cyber Liability, Risk, and Your Insurance Policy

March 18, 2019

A majority of businesses working with third-party subcontractors, tenants, and vendors are well aware of the various risks and compliance issues facing them in today’s economic climate. Unfortunately, many organizations tend to fall short when it comes to cyber liability insurance protection. Contrary to popular belief, traditional insurance does not cover cyber liability. This means […]

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The Trend Towards Sophisticated Risk Transfer Language in Construction

September 26, 2017

The construction industry is ripe with risk. As a general contractor it’s crucial to be clear about risk transfer among subcontractors and insurance carriers. The myCOI team can help. Learn more here! In recent years, construction contracts have become much more sophisticated with their wording and the way they specify risk transfer. (We share more […]

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Connecting the Dots Between Contractual Risk Transfer, Insurance and Certificates of Insurance

September 5, 2017

A Guest Contribution from Christopher J. Boggs of Big I Virtual University Connecting The Dots Guest Blog.pngUnderstanding the relationship of contractual risk transfer to insurance and COIs takes a bit of concentration. The Executive Director of the Independent Insurance Agents and Brokers of America puts it all together. myCOI is thrilled to introduce Christopher J. […]

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How Can Your Organization Successfully Transfer Risk? Trust, But Verify!

August 8, 2017

A leading authority on transfer of risk emphasizes a two-prong attack: contractual obligation and verification of requried coverage. The professionals at myCOI have the tools to make sure all your bases are covered. Jessica Gray is a Principal + Owner of Parallel Risk Advisors, an insurance brokerage and advisory firm focusing exclusively on the Commercial […]

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Agents: Help Contractors Manage Insurance Risks

June 20, 2017

With origins dating back to 1918, Western Pacific Insurance Network, Inc is the premier specialty wholesale insurance broker in the Rocky Mountain Region. As Vice President of Marketing for Western Pacific Insurance Network, Eric Richter is a foremost authority on the importance of, and the challenges that come with, helping clients achieve and maintain world […]

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