Tag: Risk Management & Compliance Insights

Is Your Company Covered For Mold Exposure Today? If Not, What To Do About It.

According to IRMI, the growth of mold and fungi claims have been exponential, with more than 10,000 mold claims currently pending in the United States, particularly in Florida, California, Texas, and Arizona. While mold and fungi aren’t things that we like to associate with businesses and they probably aren’t the first thing that come to […]

Written by myCOI on May 4, 2017

You Have a Certificate of Insurance On File… Is Your Organization Covered?

What happens if your organization has a certificate of insurance (COI) on file for all of your third party vendors and subcontractors, but you don’t have the contract? How can you be sure your organization is covered when it comes to proper coverage and compliance of all of your workers? Your compliance team may believe that having a […]

Written by myCOI on May 2, 2017

Should Your Organization Withhold Payment For Insurance Non-Compliance?

What happens if one of your third party vendors or subcontracts is deemed non-compliant after your team has reviewed the certificate of insurance and corresponding endorsements and coverage information? Should you withhold payment to that individual? How can you expedite the process to gain compliance as soon as possible to get that individual back on […]

Written by myCOI on April 27, 2017

Should Your Organization Withhold Payment For Insurance Non-Compliance?

What happens if one of your third party vendors or subcontracts is deemed non-compliant after your team has reviewed the certificate of insurance and corresponding endorsements and coverage information? Should you withhold payment to that individual? How can you expedite the process to gain compliance as soon as possible to get that individual back on […]

Written by on April 27, 2017

Software Integrations Are Valuable For Mitigating Risk & Improving Efficiency

Anyone that sits in front of a computer all day or has multiple responsibilities for their role can tell you that mitigating risk and improving efficiency as it relates to internal processes and systems is absolutely crucial. Moving from one system to another throughout the day can bring errors and omissions and therefore, risk. As […]

Written by myCOI on March 31, 2017

Monopolistic State? What To Look For On Certificates of Insurance

As you know firsthand, every state has it’s own regulations as it relates to insurance and compliance, and it’s up to you to understand any specifics that may impact your state. One such topic is that of “Monopolistic” states, which relates to workers’ compensation and stop gap coverage. In this post, we’ll explain what it […]

Written by myCOI on March 27, 2017

Monopolistic State? What To Look For On Certificates of Insurance

As you know firsthand, every state has it’s own regulations as it relates to insurance and compliance, and it’s up to you to understand any specifics that may impact your state. One such topic is that of “Monopolistic” states, which relates to workers’ compensation and stop gap coverage. In this post, we’ll explain what it […]

Written by on March 27, 2017

Certificates of Insurance: The Importance Of Communicating Directly With Agents & Brokers

For those where compliance is a priority, the process of gathering certificates of insurance and communicating with vendors, subcontractors, agents and brokers to connect all of the insurance dots can be confusing and downright time consuming! You must determine who holds the ultimate source of truth. How can you, as a compliance administrator, make sure […]

Written by myCOI on March 24, 2017

Certificates of Insurance: The Importance Of Communicating Directly With Agents & Brokers

For those where compliance is a priority, the process of gathering certificates of insurance and communicating with vendors, subcontractors, agents and brokers to connect all of the insurance dots can be confusing and downright time consuming! You must determine who holds the ultimate source of truth. How can you, as a compliance administrator, make sure […]

Written by on March 24, 2017

Why It’s Important To Check For Hired and Non-Owned Auto Policies

For organizations where vendors may need to drive from location to location, it’s critical to ensure they have the right type of coverage in place to protect all involved. In many cases, vendors that have small fleets to large fleets will have a commercial auto policy in place, but for those that don’t, you must […]

Written by myCOI on March 10, 2017

Difficulty Working With Contractors? Insurance Tracking Services Can Help.

For those tasked with ensuring compliance for third party workers that do business with your organization, you know firsthand how much of a pain it can be to work with contractors, vendors, and project managers. Afterall, they don’t want to worry about the paperwork and insurance documents when a job is waiting for them to […]

Written by myCOI on March 2, 2017

Insurance Agents: Watch Your Client Base Grow

For agencies in today’s competitive market, especially the market for business-related insurance, there’s nothing more important than growing your client base and retaining your existing insureds to ensure they are thriving and successful. But it can be difficult to attract new clients on pricing alone without having to skimp on coverage or omit important add-ons […]

Written by myCOI on February 24, 2017

Insurance Agents: Watch Your Client Base Grow

For agencies in today’s competitive market, especially the market for business-related insurance, there’s nothing more important than growing your client base and retaining your existing insureds to ensure they are thriving and successful. But it can be difficult to attract new clients on pricing alone without having to skimp on coverage or omit important add-ons […]

Written by on February 24, 2017