noun a person or organization that is added to an insurance policy in addition to the primary insured party
In real estate transactions, the concept of additional insured may come up in the context of liability insurance for landlords, tenants, or property owners to protect against claims arising from the property.
In construction contracts, the term 'additional insured' is commonly used to designate parties who are not the primary insured but who are added to the policy to receive protection in case of a claim related to the project.
In the insurance industry, an additional insured is a person or organization that is added to an insurance policy by endorsement. This provides that person or organization with coverage under the policy for certain acts or omissions of the named insured.
In various business contracts, parties may require that they be named as additional insured on the other party's insurance policies to ensure protection in case of certain events.
In legal agreements such as indemnity clauses or waivers of subrogation, the inclusion of additional insured provisions can be crucial for determining liability and coverage in case of disputes.
For events, concerts, and other entertainment productions, additional insured coverage may be necessary to protect organizers, sponsors, or participants from potential liabilities.
In the writing industry, a writer may be asked to add a client or publisher as an additional insured on their liability insurance policy to protect them in case of any legal claims related to the work produced.
Psychologists may be required to add a clinic or institution as an additional insured on their malpractice insurance policy to extend coverage to the organization for any claims arising from the psychologist's work.
Contractors often add property owners or general contractors as additional insured on their liability insurance policies to protect them from liability for any accidents or damages that occur during the construction project.
Event planners may add venues or clients as additional insured on their liability insurance policies to provide coverage in case of accidents or injuries that occur during events they organize.