Collecting all pertinent information, performing a risk assessment, assessing previous renewals, and comparing rates and policies are important steps in the commercial general liability policy renewal process.

A loss payee is a common insurance policy designation that names who receives payment when there’s a loss.

Several critical features of a Certificate of Insurance tracking solution include the availability of dedicated compliance professionals, comprehensive document review, and access to vendor networks.

The ability to track certificates of insurance for free depends on a business’ technology, needs, size and complexity, together with in-house expertise. There are a number of free tools and resources available to help.

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.

The main difference between indemnification and insurance is that the former represents the process of transferring loss responsibility within a contractual relationship, and can exist independent of a policy, while the latter represents the actual contract backed by an insurance company.

Proper management of insurance documents, like the certificate of insurance, is integral for maintaining vendor/tenant compliance, protecting your business against damage claims, and more. Doing so properly requires asking the right questions.

Blanket additional insured endorsements extend named insureds' third-party coverage though a simplified process, yet include important limitations.

Primary and noncontributory endorsements are a common insurance addendum that protects those listed as additional insureds from costly third-party liability.