At Coterie Insurance, we’re laser-focused on simplifying the small business insurance process for agents and brokers while broadening coverage for small business clients. Our new blanket additional insured endorsement does just that! This feature further eases the small business insurance process for agents and brokers, and the small businesses themselves.
Why would a small business need a blanket additional insured endorsement?
When small businesses need to hire third-party contractors, vendors, or other organizations, or work on another owner’s property or use equipment owned by someone else, the small businesses seek to limit their liabilities as much as possible and create a clear order of responsibility in the event of a claim.
Where can I find this endorsement?
On the dashboard screen, there will be an option to add the blanket additional insured endorsement.* Any entity your insured has a signed contract with requiring them to be named as an additional insured on the policy will automatically be an additional insured on the policy. No need to contact our support to add additional insureds – this endorsement handles that for you!
What does this endorsement include?
Our blanket additional insured endorsement includes:
- Waiver of subrogation
- Lessor of leased equipment
- Managers or lessors of premises
- Owners, lessors, or contractors with additional insured requirement in construction contract
- Primary & noncontributory – other insurance condition
How does this impact the small business owner?
While there are a few use cases for this endorsement, agents and brokers with contractor clients have been eagerly awaiting this endorsement. The endorsement makes it faster for insureds to submit their standard Coterie certificate of insurance (COI) and copies of these endorsements when applying for jobs, renewing contracts, bidding, etc. This simplifies the process!
The endorsement is ideal for contractors. Often, artisan contractors are contractually required to add other companies or entities as additional insureds on their policy. It could be the general contractor’s requirement to access the construction site, or the manager of the property they’re entering to install new wiring. or a municipality that requires it to secure a plumbing contract for city hall. Now, the property owner/manager, general contractor, and municipality would be covered as additional insureds provided there is a contract with each of the parties requiring it.
Let us know if you have any questions or comments by emailing firstname.lastname@example.org.
*Not available in MT.