Restoration contractors are often asked to provide a waiver of subrogation with their certificate of insurance. What is a waiver of subrogation, and how does it affect your company? The following definition for subrogation comes from the Insurance Risk Management Institute: In a legal sense, subrogation means one party has the right to “step into the shoes” of another party to bring a claim for damages. Not all types of claims may be subrogated. The most common type that can

Most organizations are equipped to fight fires with either fixed and/or portable type systems. Fixed systems typically include water equipment, such as automatic sprinklers, standpipe hoses, etc., and must be supplemented by portable fire extinguishers. Not only can fire extinguishers prevent a small fire from spreading, but they can also rapidly extinguish a fire in its beginning stages when such equipment is readily accessible and performed by a trained person. Principles o

Did you know that a liability policy, which is part of any typical business insurance policy or commercial insurance policy coverage, has two distinct obligations? If it is general liability, product liability, or professional liability insurance policy, a liability insurance policy is designed to protect you against your legal obligation to pay others because you have hurt them and/or have damaged their property. The policy also defends you against claims or lawsuits. In add

When a restoration contractor works on another person’s property, there are risks involved. Restoration contractors can sometimes damage personal property or may even be injured while performing the work. Companies and individuals that hire contractors want to be certain that they will not be held liable for injuries, damages, or substandard work. For this reason, they will frequently request to see a certificate of insurance. According to Trusted Choice: Certificates of Insu