BCS’s unique, three-step approach to certificate of insurance tracking provides the verification, security, and peace of mind essential to third-party risk mitigation.
The steps to send a certificate of insurance depend on your carrier and recipient, though traditionally required a broker and most recently involve an online form.
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.
Workers’ compensation is a type of insurance that helps pay for an employee’s medical care, lost wages, and other expenses resulting from workplace injuries.
You should consider a certificate of insurance management system if your business works with outside contractors, frequently hires new contractors, doesn’t know if vendors are compliant, and/or lacks the time or expertise to track certificates of insurance.
You can obtain a certificate of insurance by requesting it from your contractor/vendor, who can then procure it through their insurance broker or provider.
Hold harmless language (aka indemnity language) transfers the obligations from one party to another to absolve one or both from liability that may arise from services, work, and/or the nature of the contract.
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