IN: Certificates Of Insurance: Common Misunderstandings & Misconceptions

Dear Valued Customer, This issue of “———————-” focuses on Certificates of Insurance. A Certificate of Insurance validates the existence of an insurance policy, but it is much, much more. In addition to describing the insurance available to the named insured, a certificate may also convey information that the certificate holder is an additional insured under…

Read More

What Is A Certificate Of Insurance?  

A certificate of insurance is a document issued by or on behalf of an insurance company to a third party who has not contracted with the insurer to purchase an insurance policy. The most common type of certificate is that provided for informational purposes to advise a third party of the existence and amount of…

Read More

Certificates Of Insurance Can Be Dangerous

Insurance certificates can be dangerous documents that migrate between the insured, the insurers and many other third parties. These documents can be dangerous because they can be issued without legitimate need, or with inappropriate language which can leave the issuer with the potential for significant errors and omissions situation. To avoid these risks, first ask…

Read More

Common Mistakes

It is very important to read and analyze the language of the contract. For example, consider the situation where someone has written into the verbiage a hold harmless agreement, where the expectation of both insured and third party is that the contract of insurance will provide protection, like so: X Corporation hereby agrees to indemnify…

Read More

What Is Blanket Additional Insured Endorsement?

A blanket additional insured endorsement is an insurance policy endorsement that automatically provides coverage to any party to which the named insured is contractually required to provide coverage. A blanket additional insured endorsement is most commonly found in liability insurance policies, though it is typically not a feature of the policy language. KEY TAKEAWAYS A blanket additional…

Read More

Pitfalls of Additional Insured Endorsements

Looks can be deceiving when it comes to additional insured endorsements. They may not be as broad they seem. Many contain exclusions or limitations that aren’t apparent until a loss occurs. Here are some pitfalls to watch out for if your business is covered, or is covering another party, under a liability policy as an additional insured. Ongoing Operations One…

Read More

Additional Insured Endorsements in Construction

To get on a job, contractors often have to show proof of insurance and name the individuals hiring them as additional insureds on the contractors’ commercial general liability (CGL) policies. By doing this, the individuals hiring the contractors hope that the additional insured endorsement will defend them in case they get sued for something relating…

Read More