The ALS Group Risk Management Articles

There are industries that entail managing insurance compliance among large numbers of vendors/contractors, which challenges even the most organized firm to manage the compliance properly. If done right, it’s a process which requires diligence and specialized knowledge:  Each of these contractor relationships then generates a number of coverages, terms and back-and-forth communications. For these types of firms, the volume of data, communications and risks dictate a need for a robust and efficient compliance effort. Traditional insurance compliance for vendors, subcontractors and commercial tenants focuses on simply obtaining certificates of insurance (COIs) and calling that “protection”. Ostensibly, these COIs are proof of insurance; however, these are not by themselves good proof