The Difference Between Compliance & Risk Management: What You Need to Know Lots of people hear the terms compliance and risk management and assume the two terms are the same. While there is overlap between the two, it’s important to know the differences so you can assure your company is using each strategy to its full advantage. Let’s look at what each strategy is, how Read The Full Article →
Understanding Liquor Liability Insurance vs. Host Liquor Liability Deciding if you need liquor liability insurance or host liquor liability insurance is confusing. Let’s look at each one to determine which best fits your needs. But first, let us look at why this type of insurance coverage is so important. Why Insurance Coverage is Necessary According to Statista, the abuse of alcohol Read The Full Article →
10 Frequently Asked Questions About SmartCompliance We compiled a list of the most frequent questions prospects have about SmartCompliance. We hope this Q&A leaves you feeling more knowledgeable about our product and comfortable taking the next steps in your decision to purchase a certificate of insurance (COI) tracking software. Question: What is SmartCompliance? Answer: SmartCompliance is a web-based COI tracking and compliance management software that is accessible via a web browser through our secure portal. The software offers self and full-service solutions that Read The Full Article →
Defining Additional Interest vs. Additional Insured It’s important to make sure you know the difference between an additional interest vs. additional insured, so you don’t add the wrong one to your insurance policy. Let’s look at what each one means and how to differentiate between the two. What is an Additional Interest? An additional interest Read The Full Article →
9 Things You Need to Know About Certificates of Insurance Certificates of insurance (COIs) are confusing, especially if you’re just starting or don’t have a system in place to track them. In this post, we’ll answer nine common questions people have about insurance certificates, helping make you more knowledgeable on the subject, and give you Read The Full Article →
Five Ways COI Tracking Software is Increasing Insurance Compliance Risk managers are having a tough time keeping up with insurance compliance as the number of regulatory mandates grows and businesses want lower and lower costs to achieve full coverage. The days of dedicating a chunk of your week to tracking certificates of insurance (COIs) and Read The Full Article →
What the Insurance Industry Needs to Know About Online Purchases New generations are entering the market for insurance as things like online streaming and shopping become the norm. This audience is used to making immediate purchases with little to no human interaction. To keep up with these new individuals entering the market, the insurance industry Read The Full Article →
Three Benefits Insurtech Has Brought to the Insurance Industry Artificial Intelligence (AI), machine learning, and the Internet of Things (IoT) may all sound like words from a foreign language, but these are all insurtech benefits that are becoming common aspects of the insurance industry. Insurtech is where insurance and technology come together and its goal Read The Full Article →
Five COI Tracking Tips for Risk Managers One of the most important aspects of risk management is ensuring coverage to mitigate risks. Below we’ll give five COI tips for risk managers to keep in mind when working with Certificates of Insurance (COIs) to ensure coverage. 1. Request Certificates of Insurance There’s no single policy a Read The Full Article →
Advantages and Disadvantages of Self-Insured Business Every business needs some type of insurance. For businesses with low risk, paying premiums isn’t worth it when claims are not made. A self-insured business can assure coverage for its employees and any business losses without having to pay insurance premiums. What is Self-Insurance? Self-insurance is an insurance plan Read The Full Article →
