Earlier this week Billboard Insider posted on how to use insurance to mitigate risks or using subcontractors.  Today Stu Lee and Chris Bassler at Baller and Co Insurance give their perspective.

As an out of home operator you will most likely have many different subcontractors assisting you with maintenance.  If you use subcontractors to assist your out of home company you should take the following steps.

(1) Ask them to supply you with a Certificate of Insurance.  Here’s a  standard certificate of insurance.

(2) Ask to be listed as Additional Insured on the Certificate of Insurance.

(3) Put in place written contract or Subcontractor Agreement.  Here is a subcontractor agreement template.  A good subcontractor agreement transfers risk from your insurance policy onto the sub’s insurance if there is an accident.  A subcontractor agreement also spells out what insurance you want your subcontractors to carry and how you want is documented. One claim is  never like the another, but having the proper risk transfer protocols in place will minimize claims and insurance costs.

We’re happy to review any Certificates of Insurance that your subcontractors supply.  This way you know another set of eyes have reviewed this on your behalf.  Our turnaround time is quick and we will let you know should we see any red flags or green light the process.

Questions?  Contact Chris Bassler at 847-480-8400, cbassler@basslerins.com.

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