Additional Insured Vs. Named Insured on a Liability Insurance Policy

Posted by The ALS Group on Nov 16, 2021 2:12:16 PM

General Liability insurance covers various parties, and this includes named insureds and additional insureds. As risk managers, many people ask us about the difference between additional insureds and named insureds and how it affects them, which we highlight in this blog.

What is a Named Insured?

In a liability insurance policy, the named insured is the policyholder covered under the policy. The policyholder is covered for their legal liability that results in damages as a result of an occurrence. Many liability policies issued to a businesses will cover one named insured, usually, the corporation itself, but there is an opportunity to cover other related entities the insured would like and extend the coverage.

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Topics: Real Estate & Development General Liability, Risk management, Total Cost of Risk

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: Claims Management, Real Estate, Real Estate & Development General Liability, Real Estate & Development Risk, Real Estate & Development Risk Management, Strategic Risk Management, Client Success, COI Compliance

Is Faulty Workmanship an Insurable Event? The New Jersey Supreme Court Says “Yes.”

Posted by The ALS Group on Sep 8, 2016 4:23:41 PM

The New Jersey Supreme Court recently reversed its position on coverage for construction defects, affirming the Appellate Division’s decision that consequential damages caused by a subcontractor’s faulty workmanship constituted “property damage” caused by an “occurrence” under the plain language of the developer’s Commercial General Liability (CGL) policy.

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Topics: Claims Management, Commercial General Liability Coverage, Commercial General Liability Insurance Risk, Construction Project Risk, NJ Supreme Court Cypress Pointe v Adria Towers, Real Estate, Real Estate & Development General Liability, Real Estate & Development Risk Management, Risk management, Risk Management Blog

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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