Agent question: “We have not been individually adding Additional Insured endorsements, relying on them being an indemnitee in the ‘insured contract’ wording of the CGL or BOP policies, which gives them AI status without endorsing that on the policy.” Could this agency have a problem, along with their customers?
Many, if not most, certificates of insurance identify one or more parties as additional insureds. However, with several hundred non-ISO AI endorsements in the marketplace, many of these forms provide significantly inferior AI coverage compared to ISO forms. So, just checking an AI box on the COI doesn’t tell anyone much of anything. So, should…
A third party wants a lengthy list of additional insureds to be added to a certificate of insurance. After cajoling by the agency, the underwriter issues the AI endorsement but, along with it and over a dozen other requested endorsements, the underwriter attaches a “cross liability exclusion” endorsement. What the agent doesn’t realize is the…
THIS MAY BE THE MOST IMPORTANT ARTICLE YOU READ THIS YEAR. If you insure contractors or others who must enter into agreements specifying insurance coverages and certificate language, you could be opening yourself up to lawsuits or, believe it or not, even worse. Learn how practices that many agents are involved in could be the…
