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

Defining Parametric Insurance and 5 Tips on How to Manage it Parametric insurance also referred to as “index-based insurance” is a type of coverage that pays out a predetermined amount when specific parameters are met.   The parameters in a parametric policy should be an established metric or index that can be used to measure the event.  This seems straightforward but let us go overRead more

Claims-Made vs Occurrence Policies: Why the Difference Matters Do you know the difference of claims-made vs occurrence insurance? If not, keep reading because the difference can determine whether you receive payment for a claim.  If you already have a general understanding of occurrence or claims-made insurance, keep reading for a quick refresher on the topic andRead more

The Difference Between Certificate Holder & Additional Insured Certificate holders hold proof of insurance, or certificates of insurance (COIs), from insureds they are working with while additional insureds are those who have coverage extended to them through the “named insured’s” policy.  Knowing the difference between what it means to be a policy holder, a certificate holder, or an additional insured is critical to ensuringRead more

Why Additional Insured Endorsements Matter & The 3 Most Common Types Additional insured endorsements are confusing. Because there are so many different types of endorsements, it can be easy to get lost when navigating through insurance policies and their endorsements.   To clear things up a bit, let’s look at what endorsements are and what an additional insured endorsement is and their variations.Read more

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

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