myCOI
Insurance, compared to other industries, has not experienced a significant wave of innovation. In fact, this multi-trillion-dollar industry operates largely as it did a century ago. As we look forward to 2020 and the next decade, will insurance continue as it has in the past or make a significant leap into the future? We’re betting […]
Insurance, compared to other industries, has not experienced a significant wave of innovation. In fact, this multi-trillion-dollar industry operates largely as it did a century ago. As we look forward to 2020 and the next decade, will insurance continue as it has in the past or make a significant leap into the future? We’re betting […]
Frequent readers of this blog know myCOI is all about preventing risk through insurance compliance. But what happens when a tenant, vendor, contractor, or other third party falls out of compliance? Unfortunately, no risk mitigation program can perfectly prevent an entity from letting their insurance lapse, but it can react quickly and appropriately when contracted […]
Frequent readers of this blog know myCOI is all about preventing risk through insurance compliance. But what happens when a tenant, vendor, contractor, or other third party falls out of compliance? Unfortunately, no risk mitigation program can perfectly prevent an entity from letting their insurance lapse, but it can react quickly and appropriately when contracted […]
Whether a project is worth $10,000 or $10,000,000, your company probably is issuing some form of a request for proposal or RFP. Far too often risk management begins once a winning bid is selected, but in our opinion, this is too late. RFPs offer an excellent avenue for establishing risk mitigation as a project priority […]
Whether a project is worth $10,000 or $10,000,000, your company probably is issuing some form of a request for proposal or RFP. Far too often risk management begins once a winning bid is selected, but in our opinion, this is too late. RFPs offer an excellent avenue for establishing risk mitigation as a project priority […]
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 […]
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 […]
In 2018 a power line touched nearby trees igniting a fire across Northern California. The now famous Camp Fire resulted in damages exceeding $7 billion. The power line at fault belonged to utility company Pacific Gas and Electric (PG&E), which now is responsible for paying $1 billion in damages and declaring bankruptcy – all caused […]
In 2018 a power line touched nearby trees igniting a fire across Northern California. The now famous Camp Fire resulted in damages exceeding $7 billion. The power line at fault belonged to utility company Pacific Gas and Electric (PG&E), which now is responsible for paying $1 billion in damages and declaring bankruptcy – all caused […]
Are you stressing out about the competition? With more than 1.1 million agents, brokers and service employees (Statista) and $1.2 trillion in premiums up for grabs in the U.S. (Insurance Information Institute), insurance is more competitive than ever. Client turnover represents a growing challenge in an industry once driven by long-term customer relationships, now disrupted […]
Are you stressing out about the competition? With more than 1.1 million agents, brokers and service employees (Statista) and $1.2 trillion in premiums up for grabs in the U.S. (Insurance Information Institute), insurance is more competitive than ever. Client turnover represents a growing challenge in an industry once driven by long-term customer relationships, now disrupted […]
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. […]
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. […]
McKinsey reports that insurtech investments grew from $140 million in 2011 to $2.7 billion in 2015. That’s a nearly 1829% increase in four years! As a result, technology is rapidly bringing ingenuity, innovation and disruption to an industry known for control, caution and stability. With drones conducting inspections to artificial intelligence aiding underwriting and internet-enabled […]
McKinsey reports that insurtech investments grew from $140 million in 2011 to $2.7 billion in 2015. That’s a nearly 1829% increase in four years! As a result, technology is rapidly bringing ingenuity, innovation and disruption to an industry known for control, caution and stability. With drones conducting inspections to artificial intelligence aiding underwriting and internet-enabled […]
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 […]
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 […]
If you’re a construction developer, project owner, or general contractor, you’re familiar with the world of wrap ups. Owner Controlled Insurance Programs (OCIPs) and Contractor Controlled Insurance Programs (CCIPs) consolidate insurance coverage for contractors and subcontractors working on a job site into one blanket policy, purchased and controlled by the developer, project owner or general […]
If you’re a construction developer, project owner, or general contractor, you’re familiar with the world of wrap ups. Owner Controlled Insurance Programs (OCIPs) and Contractor Controlled Insurance Programs (CCIPs) consolidate insurance coverage for contractors and subcontractors working on a job site into one blanket policy, purchased and controlled by the developer, project owner or general […]