System Terminology

Agencies - The company an agent or representative works at that is providing insurance coverage to a client (insured)

Asuretified - Superior level of insurance & risk transfer verification completed through Asuretify with coverage requirements in compliance!

Claims Made - The policy must be active to provide coverage when a claim is made.

Contract - The commitment or agreement that ties an insured to a project with assigned insurance requirements

Contract Requirements - The minimum insurance coverage limits outlined & assigned by the requesting company or organization that the insured user must carry in order to be considered compliant.

Department - The categories of how contracts are organized within a tracking organization.

Endorsement - language added to a policy, modifying how coverage applies, just like an amendment or exhibit to a contract. Endorsements can be added to a policy at time of issuance or during the policy period. Many endorsements are standard & are typical requirements from requestors.  

Insurance Requirements - specified lines of coverage needed to complete work for a contract

Insured -The user that provides documents for compliance verification, this can be contractors, tenants, & vendors.

Occurrence-The policy must be active to provide coverage when an incident occurs.

Project - these are the different groupings of your work to organize related contracts within a department & their associated insurance requirements.

Requestor - The user that is requesting insurance documents to verify the insured’s coverage meets requirements for a contract.

Verification - The process to ensure your policy coverage is in compliance with requirements of a contract, project, location, etc.