What’s the Difference Between a Loss Payee & an Additional Insured?
Although both are entitled to insurance benefits, loss payees receive property loss coverage while additional insureds ...
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Posts about Insurance Basics (2):
What Is Workers' Comp?
Workers’ comp insurance helps pay for an employee’s medical care, lost wages, rehabilitation, and other expenses ...
What's the Difference Between Indemnification & Insurance?
The main difference between indemnification and insurance is that the former represents the process of transferring ...
What Is ACORD & What Does It Have To Do With Insurance?
ACORD is a global non-profit known for its standardized certificate of insurance (COI) forms. These streamlined ...
Everything You Need to Know About Primary & Noncontributory Endorsements
While primary endorsements designate the first party to respond to a claim, non-contributory endorsements prevent ...
On-Site vs. Off-Site Coverage in Construction
On-site insurance covers incidents at the jobsite, while off-site coverage extends to project-related incidents ...
What Is a Claims-Made Policy?
A claims-made insurance policy traditionally covers incidents reported while it is active.
How to Review Language in Hold Harmless Agreements
Hold harmless agreements (aka indemnity agreements) transfer the obligations from one party to another to absolve one ...
What Is Contractors Pollution Liability?
Contractors pollution liability (CPL) is a type of insurance policy that protects contractors from pollution-related ...
What Is a Loss Payee?
A loss payee is a common insurance policy designation that names who receives payment when there’s a loss.