How to Achieve Contractual Risk Transfer Achieving contractual risk transfer happens when the language in a non-insurance agreement excuses one party from financial or legal responsibility. These scenarios often include specified actions, inactions, injuries, or damages. As a basic rule, one party agrees to indemnify and hold another party harmless in a contract. When your Read The Full Article →
The Impact of Ratings when Searching for an Insurance Company When deciding which insurance carrier you want to go with, what is the most crucial factor you consider? Is it coverage? Price? Experience vs recommendations? You must explore all these avenues when finding the right provider for your organization. Out of all the questions you Read The Full Article →
Why do Prisons need Insurance & what kind? The COVID-19 pandemic created a difficult situation for prisons in the United States. With limited resources, jails and prisons all over the country struggled to keep up with outbreaks of cases among inmates. These situations have led to a concern for wardens on what insurance policies prisons Read The Full Article →
How to take advantage of Robots in the Construction Industry In the construction industry, more organizations are beginning to use robots to conduct their daily operations and streamline processes. This inclusion of innovative technology may sound complex, but robots are commonly used in the construction industry. Do you remember what the robots you imagined as Read The Full Article →
Must-Have Types of Insurance Coverage for Construction Projects Because prevention is the best line of defense, accurate and streamlined COI tracking is a must-have. Your insurance certificate collection and management should not be another risk. To help you assure you are accounting for all risks, we are going to explain the most common liabilities in Read The Full Article →
How Agribusiness Owners can bolster Risk Management efforts Agriculture is an industry that continuously must manage risks and ensure protection against several types of potential damages. When we talk about Risk Management in the industry, owners need to cover all bases from growing crops to machinery and going to market. In this industry, a delay, Read The Full Article →
5 Insurance Policies to Protect Your Business Against Halloween Tricks There are five insurance policies that every business needs, especially during the Halloween season. Keep reading and discover the must-have coverages to be protected from October’s insurance horrors. You know the feeling you get when you are watching a scary movie and you know something Read The Full Article →
The Difference Between Loss Payee & Additional Insured Loss Payees and Additional Insureds may sound similar and lead to confusion because both options extend the named insured’s coverage to a third party. Below the surface, is where the parallels between these two coverage options end. The two concepts are quite different in their scope and Read The Full Article →
Should You Require Liability Insurance Coverage for Subcontractors? Contractors and subcontractors face situations that can leave them liable for damages. As a result of this, general liability insurance is essential coverage in construction. According to Investopedia, general liability insurance has three main functions: Protects the insured and their business from legal fees and damage resulting Read The Full Article →
What is the Difference Between Indemnification and Insurance? Indemnity is a common practice used in many contracts and is not always associated with insurance. On the other hand, there is no insurance policy without indemnification. It is important to understand the difference between these two and how they work together to ensure protection under an Read The Full Article →
