CAN ADDITIONAL INSURED ENDORSEMENTS MAKE INSURANCE MORE EXPENSIVE? THE ANSWER IS DEFINITLEY YES!
Posted: October 28, 2020
The true cost of paying claims like those discussed above can cause costs to skyrocket in several ways. Because all insurance pays only up to a set limit, these amendments can serve to effectively reduce policy limits. If an insured’s policy limit is $1 million, and a $1.2 million claim is submitted , for which the insured is only 50% responsible, but the additional insured...
Do Contractors and Landlords need Action Over Coverage?
Posted: March 10, 2017
third-party-over action A type of action in which an injured employee, after collecting workers compensation benefits from the employer, sues a third party for contributing to the employee's injury. Then, because of some type of contractual relationship (Risk Transfer Agreement)Â between the third party and the employer, the liability is passed back to the employer by prior agreement. It is particularly important that New York Property...
