 John Nixon, a former underwriter and an expert on property insurance, continues the discussion on how companies can better prepare for going through property insurance renewals. Part II focuses on how to improve the format of your company’s submission to insurance underwriters. We live at a time when humanity is steadily moving away from riskier forms of self-sufficiency to safer and more productive forms of mutual interdependence. Consequently, the future of ERM will be concerned with building enterprise-wide approaches to pursuing opportunities and managing threats. This means business leaders and ERM practitioners must learn how to help their organizations build a culture of trust. Does your company deal with certificates of insurance? Are you aware of the regulatory and contractual issues associated with certificates of insurance? Are you aware of ways to manage certificates of insurance? Did you know that you can use certificates of insurance to prove the existence of coverage? This blog will discuss certificates of insurance and the important role they play in business and in the insurance industry. John Nixon, a former underwriter and an expert on property insurance, joins us for a three-part discussion on how companies can better prepare for going through property insurance renewals. Part I focuses on the importance of competitive pressure during the renewal process. We live at a time when humanity is steadily moving away from riskier forms of self-sufficiency to safer and more productive forms of mutual interdependence. This article explores the mindset needed to build organizations that use enterprise risk management to support and encourage innovation and growth. We live at a time when humanity is steadily moving away from riskier forms of self-sufficiency to safer and more productive forms of mutual interdependence. Consequently, the future of ERM will be concerned with building “whole of organization” approaches to pursuing opportunities and managing threats. The “secret sauce” to getting buy-in across an organization is creating virtuous cycles that help people feel connected through ever-increasing levels of believing in and trusting each other. Part I shared some of Grant Purdy’s background and experience from working more than 40 years on practical applications of risk management, including the improvement of decision making. Part II focused on Grant’s new book on decision making that he co-authored with Roger Estall. Part III continues our conversation with Grant about his new book and how best to help “Deciders” make even better decisions. An important principal of New York insurance law is to apply the plain language of the contract as written. See In re Viking Pump, Inc., 27 N.Y.3d 244, 257 (2016). With respect to allocation issues, the Court of Appeals has been clear that New York has not adopted either a strict “pro rata” or “all sums” rule but contracts “should be enforced as written.” Id. Missing insurance policies? No Problem. Standardized form policy language may be used to establish the terms and conditions |
AuthorsLori Siwik and Mark Siwik are the founders of SandRun Risk. They apply the principles of vertical leadership and lean six sigma to the discipline of risk management. From time to time they share their blog with guest authors who write about important risk management principles. Categories
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