WORKplace Blog — Front Row Insurance

Notify your broker when something has changed with your business!

Mar 7, 2018 12:09:33 PM / by Meghan Stickney posted in workplace insurance


Notify your broker when something has changed with your business!

Workplace insurance

Your business is expanding rapidly, new employees being hired, and your office is starting to run out of space. You decide to relocate to a bigger office two blocks down the road. During all of the chaos from the moving, it becomes very easy to forget to notify the insurance company of the move, so they can update your office’s policy. Although this may seem like a small or insignificant mistake, it could prove to be more serious.

When a policyholder is aware of a major change but does not inform the insurer of the change, this is known as a material change in the risk. Insurance companies need to know about material changes as it changes the risk and may result in an additional premium or return premium. A material change is a condition common to all insurance policies. If this condition is broken, the insurer has the right to void the insurance policy, meaning that there will be no coverage for a normally insurable loss.

This is why it is vital to promptly notify your insurer or insurance broker of any changes that are going to occur to the office such as, moving office spaces, renovations to the current office space, the purchase of additional office equipment, etc. as soon as possible.

Ensuring your insurer or insurance broker is kept in the loop with all the changes taking place at your organization will keep your policy up to date, and your organization safe from unexpected and accidental losses. Keeping your insurance policy up to date provides you with peace of mind which you payed for.

Workplace Office Insurance:

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Why does my landlord want to be listed as an additional insured?

Mar 7, 2018 12:07:44 PM / by Meghan Stickney posted in Additional Insured


Do you know why your landlord keeps asking to be added as an additional insured on your insurance policy?

An additional insured is someone who is entitled to coverage under your policy as a result of claims arising out of your use of your premises or operations at your business premise. This means that instead of having to collect under their own policy, an additional insured can first collect under your policy, leaving their policy as a backup.

Landlords will generally want to be added as an additional insured on your policy so that any claims that arise out of your operations and/or general use of your premises, especially liability claims, will be covered under your policy first. In the event of a lawsuit many parties can be named as defendants, including the landlord.

This can end up becoming a very expensive and time consuming process. This issue can be mitigated by adding your landlord as an additional insured on your policy, since they will be able to use your insurance company’s lawyer, rather than have their insurance company hire a separate lawyer to defend them. More importantly as they are only an additional insured, your policy will only cover them if a claim is made against your business or its operations.

Front Row’s Workplace insurance program offers clients an easy way to add additional insureds to their policy. This is automatically included when you buy a Workplace Insurance policy.

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