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 the National Institute on Alcohol AbuseRead more

10 Questions Commonly Asked 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 thatRead more

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 interestRead more

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 youRead more

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) andRead more

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 industryRead more

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 goalRead more

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 aRead more

Advantanges 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 whereRead more

Insurance for Franchises: What Kind of Insurance Do You Need? There are different types of insurance for franchises to consider depending on whether you’re a franchisor or a franchisee. Franchise insurance requirements also depend on what business activities your franchise takes part in. What Should Franchisors Consider? Franchisors need to make sure they have insuranceRead more