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Standard Insurance Requirements is a good option for companies that:
- Require common insurance documents to verify insurance compliance for third-parties.
- Have templated or standardized insurance requirements that apply to most third-parties.
- Do not have overly complex compliance rules and procedures.
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Included in Standard Requirement Verification Tier:
Documents:
In addition to ACORD forms, Jones will also review the following endorsement documents:
- Additional Insured Endorsements for Completed and Ongoing Operations for General Liability,
- Additional Insured Endorsements for Automobile, Pollution, and/or Umbrella Liability Policies
- Primary and Noncontributory Endorsements
- Waiver of Subrogation Endorsements
- Notice of Cancellation Endorsements
- Endorsements for General Liability General Aggregate Limit Applying on a Per Location/Per Project basis
- Insurance Carrier AM Best Ratings.
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Endorsements are reviewed regarding the following aspects:
- Coverage applies
- Policy number matches the COI (if printed)
- Policy dates are not expired (if printed)
- No invalidating watermarks are included
- Schedule box includes blanket language or project-specific language, but is not empty
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Requirements:
- Customer can add insurance requirements sets (there is no limit) that can be applied on a property, project, or portfolio basis.
- Additional Insured(s) and Certificate Holder(s) can vary by property/project or reflect Blanket Additional Insured Requirements.
- NOTE: Refer to our list of Non-Standard Requirements. The inclusion of non-standard requirements may require additional costs. Consult with your Jones representative for more information.