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What Is OFAC?
The Office of Foreign Assets Control (OFAC) is a financial intelligence agency of the U.S. Department of Treasury that develops and enforces trade sanctions to support homeland security and foreign affairs initiatives.
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Vendor Screening: Know Who You're Working With
Vendor screening can help reduce your liability when taking on third-party subcontractors. Depending on your industry, OFAC debarment screening, EHS screening, financial screening, and legal screening may hold significant benefits.
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5 Steps for Thorough Tenant Screening
Thorough tenant screening includes creating tenant criteria, conducting pre-screening interview calls, collecting rental applications, running rental background checks, and following up with tenant references.
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What Is a Certificate of Insurance & Why Do I Need It?
A certificate of insurance (COI) is a document that serves as proof of business insurance. It is a snapshot of an insurance policy containing all the most important details of the policy, and helps protect against third-party risk.
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What Does a Background Check Include?
While the criteria of a background check is ultimately decided by the employer, a typical candidate screening may include criminal history, vendor credentials, alternate business names, insurance compliance, customer reviews, and Better Business Bureau standing.
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What Is Commercial General Liability?
Commercial General Liability (CGL) is a type of insurance coverage that will protect a business from risks including bodily harm, property damage, advertising and personal injuries.
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What's the Difference Between Occurrence & Claims-Made Insurance?
An occurrence policy has lifetime coverage for the incidents that occur during its policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy's time frame, unless a 'tail' extension is purchased.
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Certificate Holders & Additional Insureds: What's the Difference?
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.
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What Is a Waiver of Subrogation?
A waiver of subrogation is a contractual provision that indemnifies third-party subcontractors from liability, effectively revoking an insurer's right to recoup losses from a claim concerning third-party fault for incurred damages.
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The Critical Nature of Workers’ Compensation Insurance
Workers' Compensation Insurance is designed to protect both your business and your employees from suffering any more than necessary after a work-related injury claim.
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How to Collect & Track Certificates of Insurance
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.
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Download the PDF 'Everything You Need to Know About Certificates of Insurance'
This free, introductory resource guide to 'All Things COI' shares valuable insights and tips on tracking, improving and managing the all-important Certificate of Insurance. Download it today!
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What's the Difference Between Excess and Umbrella Insurance?
Excess and umbrella liability insurance have some important differences, most notably that the former simply provides additional limits to an underlying policy, while the latter also expands coverage to include claims and losses outside its initial scope.
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Your Complete Guide to Developing an Effective Risk Management Plan
Developing and implementing an effective risk management plan is essential to mitigating threats to your business. This comprehensive guide explains its importance, outlines techniques for identifying and prioritizing threats, and defines key concepts and checkpoints within this five-step process.
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Volatile Economy Calls for Better Risk Management Techniques
Identifying and analyzing potential risks, and strategizing for their reduction and avoidance, are critical to successful risk management. Several useful risk management techniques include: Certificate of Insurance Tracking, Safety Pre-Qualification, Regulatory Screening, and Vendor Credentialing.
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Limit Your Liability with Certificate of Insurance Tracking
BCS’ unique, three-step approach to certificate of insurance tracking provides the verification, security and peace of mind so essential to third-party risk mitigation.
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The Basics of Additional Insured Endorsements
Learn what an additional insured endorsement is and why it is so important when it comes to protecting your company from third-party risk.
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Insurance Cancellation Notices Part 2: Endorsement Enforcement
Basics of collecting and tracking Notices of Cancellation along with Certificates of Insurance from all of your company's vendors, tenants, and subcontractors.
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Insurance Cancellation Notifications Part 1: Is Notice Guaranteed?
Notices of insurance cancellation are not always guaranteed. It is important to collect Notice of cancellation endorsements to protect your company from risk.
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AIA Unveils New 2017 Insurance Exhibit
AIA forms now include a separate insurance exhibit, creating less vagueness and more understanding, and revamping contractual risk transfer in construction.
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The Essentials of Contractual Risk Transfer
Contractual risk transfer is the ability to transfer a risk/loss from one party to another party through the language written in a contract.
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Effectively Managing Third-Party Risk
BCS can help your company reduce third-party risk with our innovative compliance management solutions. Learn how to track vendor insurance using the BCS App today.
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Third-Party Risk Management: Protecting Data Privacy
Third-Party Risk Management: Protecting Data Privacy
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The 3 Questions to Ask About Your Vendor Risk Program
The 3 Questions to Ask About Your Vendor Risk Program
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US Companies are terrified of Reputational Risk, but Too Afraid to Do Anything About It
US Companies are terrified of Reputational Risk, but Too Afraid to Do Anything About It
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Contractor Focus - Florida Workers’ Comp Statute Declared Unconstitutional
Contractor Focus - Florida Workers’ Comp Statute Declared Unconstitutional
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Tracy Morgan Sues Wal-Mart for Negligence after Car Accident
Tracy Morgan Sues Wal-Mart for Negligence after Car Accident
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You Could Face Tort Liability For Your Independent Contracts
You Could Face Tort Liability For Your Independent Contracts
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Don’t Get Bitten by a Self-Insured Retention Hiding in a General Liability Policy
Don’t Get Bitten by a Self-Insured Retention Hiding in a General Liability Policy
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Stop Reacting to Risk and Get Creative With Your Vendor Financial Screening
Stop Reacting to Risk and Get Creative With Your Vendor Financial Screening
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The Real Danger of Working With an Unlicensed Contractor
The Real Danger of Working With an Unlicensed Contractor
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The Skyrocketing Risk of Data Breach and Social Networks
The Skyrocketing Risk of Data Breach and Social Networks
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How To Automate Your Company's Risk Program in 2014
How To Automate Your Company's Risk Program in 2014
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Cybercrime Fear Hits US Businessed Hard in 2014
Cybercrime Fear Hits US Businessed Hard in 2014
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Ernst & Young Gets Real with Risk Managers - How Do You Know If Your Risk Program Does Anything
Ernst & Young Gets Real with Risk Managers - How Do You Know If Your Risk Program Does Anything
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Can Your Vendor Compliance Program Handle an Audit in 2014? One Might Be Coming.
Can Your Vendor Compliance Program Handle an Audit in 2014? One Might Be Coming.
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Cyber Liability Price Hike Leaves Retailers Feeling the Pinch
Cyber Liability Price Hike Leaves Retailers Feeling the Pinch
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Three Changes to Additional Insured Endorsements You Need to Know about in 2014
Three Changes to Additional Insured Endorsements You Need to Know about in 2014
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Why Thoughtful Strategic Risk Planning is Making a Comeback in 2014
Why Thoughtful Strategic Risk Planning is Making a Comeback in 2014
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The Perils of Viewing Risk Management as a "Software Problem"
The Perils of Viewing Risk Management as a "Software Problem"
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The Two-Year Slide Backwards in Risk Preparation
The Two-Year Slide Backwards in Risk Preparation
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The High Cost of Losing Documents to Fire or Flood
The High Cost of Losing Documents to Fire or Flood
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The Insane Cost of US Insurance State Regulation
The Insane Cost of US Insurance State Regulation
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Finding Data in the Expanding Digital Haystack
Finding Data in the Expanding Digital Haystack
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The Exploding Popularity of Cyber Liability Insurance
The Exploding Popularity of Cyber Liability Insurance
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The Outdated Approach to American Insurance Regulation
The Outdated Approach to American Insurance Regulation
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Wrongful Termination Lawsuits and Social Media Legislation
Wrongful Termination Lawsuits and Social Media Legislation
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The 3 Basic Steps of Managing Social Media Risk
The 3 Basic Steps of Managing Social Media Risk
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20% of Small Businesses Are Making a Critical Mistake
20% of Small Businesses Are Making a Critical Mistake
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Just 1 Bad Apple Can Spoil the Bunch - and Cost Shareholders 30% of Returns
Just 1 Bad Apple Can Spoil the Bunch - and Cost Shareholders 30% of Returns
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$10.70 Has Never Been More Expensive For Risk Managers
$10.70 Has Never Been More Expensive For Risk Managers
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Vendor Safety Evaluations and Damage to Corporate Reputation
Vendor Safety Evaluations and Damage to Corporate Reputation
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New ACORD Form & 30-Day Notice of Cancellation
New ACORD Form & 30-Day Notice of Cancellation
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