Contractor Pollution Liability Insurance: Do You Need It? We have all heard the stories of individual contractors, mid-sized businesses, and large corporations getting in trouble for environmental damages. These stories damage the names of well-known industry leaders or shut down operations of smaller competitors.   Pollution liability used to be part of commercial general liability (CGL) policies. Today theseRead more

Do You Need Named Perils or All-Risk Commercial Property Coverage? Property managers understand the complexity of commercial property insurance, but when things like Named Perils and All-Risk come into play, they can be easy to overlook if you do not understand their meaning.  To ensure you have the coverage needed for your properties, you need toRead more

What is the Difference Between First & Third-Party Insurance? Third-Party insurance is a type of liability insurance where you are making a claim on another party’s insurance policy. In third-party insurance, there are three parties. Let us look at who first, second, and third parties are and look at examples of first and third-party insurance.  What is First-Party Insurance? First-party insurance is aRead more

Excess or Umbrella Insurance: Find Out Which is Better for You Although you already have an insurance policy in place, there is a chance there are gaps in your coverage and you need more insurance to cover these gaps. You can cover these gaps with an excess policy or an umbrella insurance policy.  In this article, we are goingRead more

Using Business Intelligence to Leverage Your Data [Free Webinar] SmartCompliance is putting on a webinar, hosted by CEO, James Benham, where he will talk about Business Intelligence (BI) and how you can leverage it for your business’ data. Before joining the webinar, take a minute to look over this article to learn the fundamentals of BI.  Here, we will mention aRead more

Learn How to Incorporate Digital Maturity into Your Risk Management Program Do you know what digital maturity is? If so, are you confident that your business is digitally mature? Whether you know your business’s digital maturity status or want to learn how to increase this for your business, we are here to help.   To understand digital maturity, letRead more

Learn the Difference Between Regulatory & Corporate Compliance No matter the industry, your business operates in there are bound to be rules and regulations set forth by the government that you have to follow. For example, if you run a rental car company, the Environmental Protection Agency (EPA) may require you to only rent out cars that meetRead more

How Explainable AI Could Transform the Insurance Industry Artificial intelligence (AI) is growing and taking over more aspects of business. Many people are unsure of AI because of its lack of explanation when coming to a conclusion.  Explainable AI (XAI) is bridging the gap between those who already trust AI and those who want more explanation when it comes to receivingRead more

5 Tips for Risk Managers to Win More Clients It can be hard for risk managers to find new clients who believe in the value of their service. Many companies do not think risk management is worth it because of the “that won’t happen here” mentality, but this could not be further from the truth.  In this article, we areRead more

Common Construction Site Hazards & How You Can Protect Against Them According to OSHA, “nearly 6.5 million people work at approximately 252,000 construction sites across the nation on any given day.” If you contract any of these workers, you need to know how to protect them from hazards and what to do if an accident occurs.  LetRead more