How Regulation challenges in construction are solved with COI tracking software Regulation is a part of every industry, and construction is one of the most regulated ones. There are building codes, insurance requirements, safety regulations, audits and more. Moreover, construction teams often operate in silos. There are many parties involved who cooperate and coordinate Read The Full Article →
Artificial Intelligence (AI) and Insurance Compliance Artificial Intelligence (AI) has taken the world by storm. Chat GPT3 and 4, Midjourney, Alpaca, and Bing are just some of the iterations of the never-ending parade of smart chatbots which can do almost anything. Knowledge, interpretation, translation, analysis, and insights, to name a few, are among the most Read The Full Article →
Building a Strong Insurance Compliance Culture: 3 Golden Rules for Companies Having a strong compliance culture is essential for insurance companies. Without a compliance culture, companies may engage in risky practices that could result in severe consequences such as lawsuits, fines, and reputational damage. In this article, you will discover the 3 golden rules that Read The Full Article →
5 Effective Cost-Saving Solutions for Compliance Management Compliance relates to all departments and job roles. Everyone is, in one way or another, responsible for a small part of the general compliance of any given organization. Thus, Compliance Management becomes an enormous task, with dire consequences if not done well. In this article, we will go Read The Full Article →
How to Choose the Right Compliance Management Software Insurance compliance is a tricky subject. Since it involves meeting standards and regulations, is not optional. Businesses depend on their correct compliance to operate legally. If companies or third parties working for the company fail to meet compliance requirements can face fines and even legal charges. On Read The Full Article →
8 Tips on How to Spot Fake Certificates of Insurance Checking for fake Certificates of Insurance needs to be a bigger priority among carriers. The Certificate of Insurance Holder needs to check that the Certificate they are extending to the pertained authorities is original and reflects a real and active insurance policy. If that Read The Full Article →
What Are the Best Practices for Third-Party Risk Management? Businesses need third-party risk management; sometimes, it is essential for improved profitability or competitive advantages and often to decrease costs generated by requiring a more hands-on deck. Third-party Risk Management comes with multiple risks, including reputational damage from non-compliance, security breaches, data thefts, and financial risks. Read The Full Article →
Why Are Regular Compliance Reviews Critical for Your Business? It is no secret that compliance is often overlooked as a task meant only for risk management teams. That could not be further from the truth: compliance is an enterprise-wide job. It is important to educate team members and collaborators about the necessity of compliance and Read The Full Article →
How to Confirm the Limits of an Insurance Policy on an ACORD Form The Association for Cooperative Operations Research and Development (ACORD) was founded in the 1970s to simplify the process of proving insurance coverage to a third party. That’s where ACORD Forms were born. An ACORD form is a certificate of insurance that summarizes Read The Full Article →
10 Questions About Certificates of Insurance Everyone Should Ask A fundamental of the insurance industry is ‘Certificates of Insurance’. At its essence, they are Proof of Insurance, although there are many nuances to what a certificate does and why. In this article, let’s explore the most common questions surrounding Certificates of Insurance. Does A Certificates Read The Full Article →
