Minimize Risk of Adding Additional Insured: A Guide for Businesses
Adding an additional insured (AI) to your business insurance policy offers apparent benefits, but navigating the complexities can lead to significant risks if not handled carefully. This guide provides actionable steps to mitigate those risks for named insureds, additional insureds, and insurance brokers. Understanding Additional Insured Status An additional insured is a person or entity added to an existing insurance policy, extending some of the policy's coverage to them. While this protects others working with your business, it's crucial to understand the limitations and potential disputes....