August 2022

August 2022 • Florida Pool Prosm 19 INSURANCE UPDATE please read your policy carefully. The coverage restrictions and exclusions can be significant and are often buried in the fine print of the forms. Now, there are occasions where a non-admitted carrier is the right, sometimes only, fit. To name a couple, excessively hazardous operations or excessive claims activity may limit your options. It is not the end of the world and often there is no choice, but it is undesirable. Finally, whether you have either a CPC or SPSC license and hire subcontractors, please scrutinize their insurance certificate closely to be sure they meet all the requirements of your carrier and to properly protect yourself. Even better, have a formal, written subcontractor agreement in place which mandates they carry specific coverages at specific limits of liability. The protection this offers to you is priceless when the sub causes a claim, and their insurance company attempts to deny coverage or responsibility. Your agent can help with all of this if you are unsure. Hopefully this clarifies how SB 222 intersects with general liability insurance. We are always eager to discuss any of this with you should you have any questions. i partners o o l s Come thrive with us, support your industry and business by joining or renewing!