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Although the written contract or agreement requirement in most blanket additional insured endorsements seems straightforward, courts have identified a variety of contractual arrangements that can satisfy the obligation. Entities seeking and/or providing additional insured status should carefully consider relevant precedent in evaluating their position. Read the rest of the article here.
AIG Specialty Insurance Co. has prevailed in a dispute with Tesoro Corp., with a federal appeals court upholding a lower court ruling that concluded the insurer was not obligated to provide coverage for an environmental claim because the petroleum refinery firm had failed to list a subsidiary as the named insured. Read the rest of the article here.
Do you rely on your insurance broker to audit 3rd party Certificates of Insurance (COI's) for your organization? Download our latest white paper to see what you could be missing.
When Brokers Track COIs.pdf (297.2KB)
OLD GREENWICH, Conn.--(BUSINESS WIRE)--WorldQuant Ventures, an angel investment firm focused on disruptive companies in technology, with a particular focus on data and finance, today announced it has invested in Certrax Risk Compliance Solutions, Inc. (“Certrax”). Certrax is a state-of-the-art application and service that allows real estate owners, property managers and service providers to manage third-party risk by electronically tracking, managing and storing contracts and insurance certificates. As part of the agreement, Steven Lau, Managing Director at WorldQuant Ventures, will join Certrax’s Board of Directors. Read the rest of the article here.