Self-insurance involves setting money aside for a potential loss instead of purchasing a third-party insurance policy. Depending on the losses your business faces, this could either save or cost more money than traditional insurance coverage.

A waiver of subrogation is a contractual provision that indemnifies third-party subcontractors from liability—revoking an insurer's right to recoup losses from a claim concerning third-party fault for incurred damages.

A certificate of liability insurance provides proof businesses are covered by an active, commercial general liability insurance policy. This convenient, accessible document is important to prove insurance status, mitigate liability, and protect businesses in third-party contracts.

AM Best credit rating agency scores insurers’ creditworthiness on a scale of A+ to D to measure insurance-related risks and help consumers make informed decisions.

Additional insured endorsements extend coverage to a specified third party in the event of a claim or negligent acts.

Insurance endorsements serve as policy changes to your original agreement that help you mitigate risks.

Third-party risk assessments evaluate factors such as vendor reputation, data security, financial standing, mission, and more to mitigate liabilities, streamline project workflow, and ultimately, influence hiring.

Certificate holders possess proof of insurance on commercial general liability policies, while additional insureds are other parties coverage has been extended to, beyond the initial policyholders.

Request a certificate of insurance (COI) from your contractor or vendor, who can procure it through their insurance broker or provider.