ServicesInsureGUARD™

Benefits

Are your contractors insured? Do they have appropriate limits?

Managing approved suppliers includes validating insurance coverage. That is why PICS collects and reviews your contractors’ insurance certificates with an absolute attention to detail. Our Insurance Specialists verify that each certificate meets your organisation’s contractor management requirements.

As part of the InsureGUARD™ contractor management process, PICS collects and reviews certificates to protect your organisation, ensuring that if an incident ever occurred, your liability is limited.

Process

Based on your organisation’s specific contractor management requirements, each contractor will upload their appropriate insurance certificates for review.

PICS will then evaluate and verify the accuracy of the insurance coverage and compare it against your requirements. To be approved, the certificate must have the correct certificate holder, limits and endorsements listed.

If the certificate has a minor error, or the information is different from the typical requirements, PICS will reach out to the contractor– before completing and submitting the insurance.

With InsureGUARD™, policies which clearly meet your criteria are automatically approved (or rejected). You can now have the peace of mind that your contractors are appropriately insured and that they will be staying insured throughout the duration of their contract.

Policy Types

PICS supports many common insurance policy types. These include, but are not limited to:

General Liability

As the most frequently well-known contractor safety insurance, General Liability covers claims related to physical injury or property damage. General Liability insurance is vital to supplier assessment, as it allows a business to continue operations even in the face a claim for contractor safety negligence or wrongdoing.

Automobile Liability

An automobile insurance policy protects against accidents while driving insured company vehicles, a personal use vehicle, or a vehicle that is rented for business purposes. Coverage protects the company from an accident resulting while approved suppliers are on-site and using a vehicle designated for business purposes.

While there are a variety of options available, depending on the business being operated and who owns the vehicles being used, the policy is designed to protect a business in the event of accident, theft, and/or injury.

Employer’s Liability Insurance

Work related safety issues in the UK are controlled by the Health & Safety Executive (HSE). The HSE provides the framework for employers in terms of which statutory rules and regulations apply to their business. The insurance that covers worker related issues is Employer’s Liability Insurance.

This coverage will protect against any approved suppliers that assert a claim for injury or illness. The current Indemnity Limit minimum is £5,000,000 per occurrence. Coverage protects against a situation in which the worker claims damages from company negligence or failure to provide a safe workplace.

Excess/Umbrella Liability

An Excess Liability policy provides additional coverage. This type of insurance is helpful in cases where approved suppliers assert a claim that exceeds policy insurance limits. The umbrella policy covers the additional amount needed after initial insurance limits are reached in a contractor management programme.

PICS can support any specific insurance needs. Samples of additional insurance coverage that may be necessary, for which PICS can provide support, are: Builder’s Risk, Environmental Impairment Liability, Employers Liability, Marine Liability, or Pollution Liability insurance. This is a partial list of additional insurance policies that PICS can help to review on your behalf, many others are also accepted.