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    What Is an Additional Insured?

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    Understanding the concept of an additional insured in a commercial business insurance policy is crucial for businesses and their stakeholders. In this article, we will explore what an additional insured is, the types of additional insured options available, and the considerations businesses should keep in mind when adding a new party to their policy.

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    Definition of an Additional Insured

    An additional insured is a person or entity other than the named insured that is granted protection under the terms of a commercial business insurance policy. This provision allows the additional insured to benefit from the coverage provided by the policy in the event of a covered loss or claim. The additional insured can either be named individually or covered under a blanket endorsement.

    Consultation and Policy Amendment

    When considering adding an additional insured to a commercial business insurance policy, it is essential to consult with the client. Legally, only the insured party has the authority to request amendments to the policy. Therefore, understanding the client's intentions and obtaining their consent is crucial before making any changes.

    Entities Requesting to be Added as Additional Insureds

    Various entities may request to be added as additional insureds to a commercial business insurance policy. This includes lienholders or parties to whom the insured is supplying products. These entities may require additional insured status to protect their interests, ensure coverage in case of liability, or satisfy contractual obligations.

    Considerations for Adding Additional Insureds

    Before adding a new party as an additional insured, it is important to evaluate the reasons behind the request. Assess whether the coverage is necessary and aligned with the company's risk management strategies. Understanding the potential risks and the impact on the policy is vital to ensure appropriate coverage and prevent any adverse effects on the business.

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    Originally published October 3, 2023, updated June 19, 2024

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