News & Insights

NY Court Limits Effectiveness of Blanket Additional Insured Riders for Construction Companies

Construction companies and contractors are required to maintain insurance not only for their benefit, but for the benefit of the owner of the property where they are providing services as “additional insureds.” Many companies use what is known as a “blanket additional insured rider” to provide the required coverage to the property owners. However, a recent court decision has significantly limited the effectiveness of blanket riders.

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Do’s and Don’ts for Avoiding Personal Liability for Corporate Debts

Many companies choose to do business through a corporation or other limited liability entity (like an LLC). The reason is because a corporation is its own separate “person,” so shareholders or members are not liable for the company’s obligations or debts. This is true whether the corporation has a single shareholder or hundreds of shareholders. However, to take advantage of this benefit, the corporation’s affairs must actually be kept “separate” from the personal affairs of its shareholders.

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