Top Liability Money Traps to Avoid In 2021

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DISCLAIMER:
The author (Dybdahl) is one of the sponsors/founders of DDRS.org

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Why 5 Stars? Heads up on how to avoid potential liability problems for remediators and janitorial services. Good, practical advice. A must read for all cleaning and remediation contractors.

1-5 Stars System

  • Positive: Greater than or equal to 4 (4.0 – 5.0) MUST READ
  • Neutral: Greater than or equal to 3 but less than 4 (3.0 – 3.9)
  • Negative: Less than 3 (2.9 – 0)

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DDRS Staff
1 year ago

The article states: “What happens to set this trap is a well-intentioned, but naïve insurance agent issues an insurance certificate that perfectly complies with the mandatory insurance certificate language required in a contract. However, the actual coverage in the insurance policy does not match the coverage the certificate of insurance says you have.”

This is exactly what happened to me. I’m spending $7K per year for E&O and Environmental Insurance for Mold Assessment and Remediation. My Insurance Policy Dec page says I am covered. I’ve had to same coverage for 15 years. But when someone threatened me with a lawsuit because I served as an expert witness against them in a lawsuit, I read my policy and found that I was actually not covered for pretty much anything. So take Dybdahl’s advice: Read your policy!