Contracts and Additional Insureds – Do You Really Have Protection?

Posted by The ALS Group on Jun 23, 2020 12:19:46 PM

 

Recently, I came upon an interesting (albeit disturbing) example of how generic insurance obligation language in a contract left the Landlord without Additional Insured protection from their contractor.

In the case of Seven Up Realty vs AJ Greenwich Contracting, the contract that Seven Up had with Greenwich did not REQUIRE Greenwich 

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Topics: Compliance

COI Compliance: Do You Sleep at Night?

Posted by Andrew Masini on Jul 24, 2017 1:07:24 PM

There are industries that entail managing insurance compliance among large numbers of vendors/contractors, which challenges even the most organized firm to manage the compliance properly. If done right, it’s a process which requires diligence and specialized knowledge:

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Topics: Compliance

Client Success Story: Real Estate Investor/Lender – Insurance Compliance

Posted by Jon Edwards on Jul 12, 2017 10:53:08 AM

Situation

A NY-based organization (acting as tax syndicator) with over 350 properties engaged us to review and modify the lender requirements and to ensure insurance compliance with the requirements from the various parties involved in a deal

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Topics: Compliance

Certificate of Insurance Compliance: Eliminating the Blind Spots

Posted by The ALS Group on Mar 16, 2017 10:25:09 AM

Errors and even outright fraud in certificates of insurance is a growing problem. We encounter a 70% noncompliance rate on initial documents.

The certificate of insurance compliance function protects a company by ensuring that its contractors have appropriate types and amounts of insurance coverage. The burden of this compliance process is often underestimated.

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Topics: Compliance

A Contract Compliance Framework Can Reduce Risk

Posted by Albert Sica on Feb 12, 2014 9:43:00 AM

Monitoring insurance compliance in contracts is an important, albeit challenging, risk mitigation strategy. Read Al Sica’s recent article on the subject posted on Construction Executive Magazine website.

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Topics: Compliance

The ALS Group

Risk Management Blog

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

Our areas of expertise include:

  • Enterprise Risk Management (ERM)
  • Cyber Security & Cyber Liability Insurance
  • Construction Management
  • Customized Risk Management Assessments (RMAs)

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