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Certificate Holder v. Additional Insured – Understanding Certificates of Insurance

Unplanned accidents in the workplace are unavoidable and so are the financial risks that follow, but having a Commercial Liability policy (CGL) on a Certificate of Insurance can help protect against the risks when working with contract networks. When contracting with an independent contractor, companies will need to be mindful of certain insurance requirements, such as requiring a policyholder to list them as an additional insured to their policy, to mitigate their risks in the event of a negligent incident committed by the independent contractor that has a financial impact and a claim needs to be created against the contracted company’s (policyholder) general liability policy.

 

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Posted Under: Insurance

Post By Ken Shafton (887 Posts)