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
Unless you are a workers’ compensation expert, you might not know that a subcontractor’s injured employee generally cannot sue them, but can sue upstream parties. This leaves general contractors, property managers, and owners exposed.
The first step for the insurance company is determining if they have a duty to defend your company. The answer can vary between states and often relies on the important “four-corners rule.” Understanding this rule and when it applies can determine if an insurer’s defense obligation is valid or if you will end up fighting in court alone.
Running a business today is challenging on its own. Dealing with the marketplace and competition is a job in itself. Add in the need for