In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party's insurance policies.
This is often done to protect your business from losses for which you may be legally liable as a result of the business relationship you have with the other party, but that are not due to your own business's direct negligence.
An additional insured is defined as an individual or entity that not automatically included as an insured under the policy of another, but for whom the named insured's policy provides a certain degree of protection.
When stores lease real estate spaces or construction firms win jobs, the party on the other end usually has a particular set of requirements.
One of the requirements is that the tenant, contractor, or borrower show proof that he or she has adequate insurance.
Copies of insurance documents may be sufficient. But, not all companies want copies sitting around. A suitable substitute for document copies is a certificate of insurance.
Business owners who form a corporation or a limited liability company (LLC) may question the need for the business to carry insurance. A significant benefit of these forms of business organization is that they shield the owners' personal assets. Because of this, they may believe insurance is unnecessary.
Many businesses that produce some type of pollutant throughout the course of daily operations don't know they are doing so.
Those businesses that know they are producing pollutants have processes and safeguards in place to reduce their release into the environment. However, it’s important to understand that a business can be held liable for some very costly damages when these byproducts pollute another property or harm another individual.
People often worry about fires damaging their homes and commercial buildings. While fires are dangerous and can cause extensive damage to property, they are rare compared to another element that is in the home or building every minute of every day: Water.
In October and November of 2011, floods inundated large parts of central Thailand, including thousands of factories that made everything from automotive parts and hard disk drives to eyeglass lenses and air conditioners. In addition to the human and economic cost in Thailand, the disaster affected businesses around the world.
Falls from portable ladders (step, straight, combination and extension) are one of the leading causes of occupational fatalities and injuries. OSHA offers 16 tips for ladder safety.
Parts of the Midwest have been experiencing record flooding, caused by rains and the melting snow that fell in the winter.
Over the past few years, more accidents have been attributed to smartphone use while driving. This, along with the higher cost of repairs, has led to double-digit increases in commercial auto insurance rates.
Distracted driving has led to sustained commercial auto premium increases for businesses of all sizes – from those with a few vehicles and drivers to those with large fleets. However, there are now several new factors that will play a part in ensuring rates continue to climb, at least in the near term.
As winter starts subsiding, the harsh elements of the season can do serious damage to roadway surfaces, mostly in the form of potholes.