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Who Should Be Added as an Additional Insured? A person or group at risk of being sued due to a connection to the primary insureds business or operations should be added as an additional insured. Examples include a landlord added to a tenants coverage or a contractor added to a subcontractors coverage, among others.
What is an additional insured grantor of a franchise?
Additional Insured Grantor of Franchise The definition of insured is amended to include a person or organization with respect to their liability as a grantor of a franchise to the Named Insured.
What is the benefit of being added as an additional insured?
The purpose of additional insured endorsements is to keep the burden of risk closest to those parties most likely to create losses, which typically is third parties contracted to perform the work. In managing compliance, the first step is issuing a certificate of insurance request from the third party.
Who is the grantor of a license?
Grantor means each and all of the persons or entities granting a Security Interest in any Collateral for the Loan, including without limitation all Borrowers granting such a Security Interest. License Term means the duration of a License as specified in the Order.
Should I add someone as an additional insured?
Dont put them as an additional insured. Their name will be included on any claim check your receive and you wont be able to cash it without their signature.
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What are the risks of adding an additional insured?
There is also a risk of being under-insured or uninsured as additional insureds. Second, there is the risk of breaching a contract, thus potentially becoming the insurer of the other party when they are the party obligated to provide additional insured coverage.
Related links
2016 Publication 535
Jan 19, 2017 This publication discusses common business expenses and explains what is and is not de ductible. The general rules for deducting busi.
A Grantor of License endorsement form or a Designated Person or Organization endorsement form must be signed by the agent (if applicable) and attached to the
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