Certificates of Insurance

Slides:



Advertisements
Similar presentations
How to Request Evidence of AHRP Insurance
Advertisements

Insurance overview September 20, The University is an agency of the State of Connecticut, and as such, enjoys sovereign immunity. This means that.
Schauer Group, Inc Risk Management & Insurance. Presenters Joseph D. Schauer, CPCU, ARM Practice Leader Risk Management Ron Van Horn, CPCU Practice Leader.
We Do The Work – You Make The Decisions. We Do The Work – You Make The Decisions General International Insurance Brokers GIIBC.COM.
A PROFESSIONAL CONSULTANT IS NOT AN EXPENSE, BUT AN INVESTMENT General International Insurance Consultants By giibc.comgiibc.com.
SEMINAR NAIC/ASSAL/SVS REGULATION & SUPERVISION OF MARKET CONDUCT © 2014 National Association of Insurance Commissioners NAIC Standard Setting.
. Additional Insureds.
Office of Risk Management Annual Conference Insurance Requirements in Contracts and Indemnification Agreements Procedures Manual Published by The Office.
Ontario School Boards’ Insurance Exchange “Indemnifying Agreements, Hold Harmless – When Should They Be Used?” November 6, 2008.
Contractual Liability For Schools… Making Smart Choices and Finding the Negotiator Within Presented by Jessica K. Walls, Esq. Isaac, Brant, Ledman & Teetor.
Design Lease Contracting for Services IT/Security Medical IGA Special Events Providing Services.
Ernette Leslie, UA Contracting Procurement & Contracting Services University Services Annex, 6 th Floor Tucson, AZ (520) or (520)
This unique insurance is available exclusively to members of NBFAA.
January 19 th, 2010 A Presentation to The Professional Credit and Financial Association of Calgary Ian Lydiatt InRisk Solutions Inc.
Welcome's Mr. Chai and Friends. Georgia Select, Inc, licensed by the State of Georgia in 2011, is one of the fastest growing insurance agencies in Georgia.
“In the vast area of legal jurisprudence, there are undoubtedly many instances where being the first, or only, jurisdiction to grant rights to persons.
Contractual Risk Review PUBLIC ENTITY PROCUREMENT.
© 2011 The Magnes Group Inc. E&O INSURANCE: THINK YOU KNOW IT ALL? THING AGAIN….
Certificates of Insurance “Rolling Stone Syndrome” or You Can’t Always Get What You Want.
Certificates of Insurance
Welcome to RIMS 2012 Annual Conference & Exhibition This is Session INS 100 Certificates of Insurance From the Risk Management Perspective Sponsored by.
Certificates of Insurance Primer Marcia Berner Property & Casualty/Surety, Program Director ACORD Two Blue Hill Plaza, 3rd Floor Pearl River, NY
Risk Management Overview with Meg Tully, CAE Meg Tully, CAE Association Development Director.
The Home Inspection Book: A Guide for Professionals By Marcia Darvin Spada Copyright, Thomson/South-Western 2003, Revised 2006.
The information contained in this presentation is intended for illustration purposes only and does not provide coverage, actual policy terms and conditions.
Third Party Recovery: Getting the Most Out of Other People’s Insurance
March 15, Insurance Seminar Penn Biotech Group.
Volunteer Leadership Learning Series Session: Chartered Alumni Organizations - Insurance Coverage Presenter: James A. Breeding, Director Risk Management.
1 Insurance Specialty Group LLC Introduction to the Asset Protection Program (“APP”) for Residential General Contractors 4501 Circle 75 Parkway, Suite.
. Introduction  This class is not designed to discuss and apply contract clauses that impact insurance contracts.
8.03 Discuss the types of insurance necessary for the sports and entertainment industry.
13 - 1Copyright 2008, The National Underwriter Company Business Liability Issues in Insurance  What is it?  Business liability is the risk exposure that.
University of North Texas Technology Transfer Process.
UNT Technology Transfer Process For additional details see the UNT Intellectual Property Policy UNT retains ownership of the technology Intellectual.
2 E & O statistics, trends, concepts, and strategies to provide you with the tools to avoid bad situations … and Errors and Omissions claims ! Linda Faulkner:
Office of Risk Management Annual Conference Insurance Requirements in Contracts and Indemnification Agreements Procedures Manual Published by The Office.
Insurance Community Center A Center For Learning, A Community For Sharing Find us on LinkedIn & Facebook! Insurance Community.
Insurance Community Center A Center For Learning, A Community For Sharing Find us on LinkedIn & Facebook! Insurance Community.
And other issues. The General Contract Form is included in every solicitation requiring insurance. The general requirements of the contract.
Insurance Community Center A Center For Learning, A Community For Sharing Find us on LinkedIn & Facebook! Insurance Community.
THE IMPORTANCE OF CONTRACT REVIEW Kristina Phillips PestSure I would like to emphasize that the discussion set forth above is only an insurance/risk management.
Sheri Swain, Director of Enterprise Risk Management Maricopa County Community College District Christine Nobles, Insurance Manager Maricopa County.
P. Todd Reed, CPPO, CPPB. No one set of answers Agency driven Provide guidance, examples, and interaction Best practices SB Chapter 1811 Texas Insurance.
Office of Risk Management Annual Conference Insurance Requirements in Contracts and Indemnification Agreements Procedures Manual Published by The Office.
Office of Risk Management Annual Conference Insurance Language in Contracts and Indemnification Agreements Procedures Manual Published by The Office of.
Liability Issues to Worry About – Indemnity Agreements and Additional Insureds E. Stuart Powell, Jr. CPCU CIC CLU ARM ChFC AMIM AAI ARe CRIS Vice President.
JEFFREY L. HUNTER SR RISK ANALYST County of Riverside Human Resource Dept. Risk Management Div. Insurance Requirements In Contracts.
Contractual Risk Transfer in Construction Contracts Presented by: Thor Insurance & Registries Ltd.
The Privacy Symposium: Transferring Risk of a Privacy Event Paul Paray & Scott Ernst August 20, 2008.
8.03 Discuss the types of insurance necessary for the sports and entertainment industry.
2 - 1Copyright 2008, The National Underwriter Company Legal Aspects of Insurance & Risk Management  Principal of indemnity  Indemnify means to make whole.
INDEMNITY The University of Texas System Office of General Counsel Dana Hollingsworth, Attorney.
Buying and Selling Real Property CHAPTER THIRTY-ONE.
Contracts A contract is an agreement between two or more parties which creates an obligation to do or not to do a particular thing. The document containing.
Department of Labor – June 2017
Types of Liability Insurance
E&O Risk Management: Meeting the Challenge of Change
Contractual Risk Transfer and Special Events
E&O Risk Management: Meeting the Challenge of Change
Offshore Oil and Gas Environmental Issues
Brian Bries, Area V.P.-Construction Practice Arthur J. Gallagher & Co.
Texas Health Care Network - Employer Presentation
Cyber Issues Facing Medical Practice Managers
Types of Liability Insurance
Speaker: Sarah Chambers, Esq. Claims Counsel| Professional Liability
Chapter 14 Review.
THE MANY POLICIES INVOLVED IN A CONSTRUCTION PROJECT
WHAT YOU NEED TO KNOW ABOUT FINANCIAL ASSURANCE
Exam Accommodation Requests & Exam Policies and Procedures
Understanding & Mitigating Risks in Contracts
Presentation transcript:

Certificates of Insurance “Rolling Stone Syndrome” or You Can’t Always Get What You Want

Introduction What is(n’t) a certificate of insurance? Informational snapshot only A certificate cannot modify a policy A certificate is not a contract Three types of certificate requirements Wish list Fallback position Deal breaker

Uninsurable Requests “Any”… “Primary and noncontributory” Acts, errors, omissions Claims, costs, expenses, liabilities, penalties, or fines “Primary and noncontributory” What does ‘noncontributory’ mean? Non-CGL policies

“Illegal” Requests Nonexistent coverage Certificate modifications Withdrawn additional insured endorsements Transfer of sole negligence Certificate modifications Striking through/amending language/disclaimers ACORD copyright violation Statute, regulation or DOI directive violation

Inappropriate Requests Cancellation notice Not provided by most AI endorsements “Endeavor to” may not be feasible Non-ACORD certificates Usually require insurance company approval Improper requests or copyright infringement

Impractical Requests Unavailable or expensive coverages Completed operations, EFIS, pollution, etc. Give ample time for market search before bidding Again, not everything is insurable Indemnification is not insurance Beware uninformed or unscrupulous agents

Recommendations Involve your agent BEFORE bidding and entering into indemnity agreements Independent Insurance Agents & Brokers of America Certificates Resource Center: http://www.independentagent.com/VU Contact ME at ____________________

Final Comment… As the Rolling Stones sang, you can’t always get what you want, but if you try sometime, you just might find…you get what you need.