Page 69 - IEC Insights Sept-Oct21

Additional insureds are another thing to help ensure the appropriate terms are of association members on various risk
keep in mind, as entities may be asking for included, including, but not limited to, management topics. His passion is to
additional insured status on your insurance indemnification terms. ensure your employees go home safe to
policy. Naming another entity as additional their families each day following work.
insured entitles them to direct rights under Contracts are a great tool in the electrical Nate has earned the trust of hundreds of
your policy. This could mean that they contracting world, but remember to read business owners in the areas of safety,
hope to protect their own policy limits, the fine print. It may be a hassle, but in the risk, and business management; focusing
have your coverage provide a defense for end it could help save your company from on value, service, and relationships.
them, or obtain coverage from you that unnecessary costs or losses.
may not be available or affordable under Nate graduated from North Dakota
their own insurance program. This article is for general information State University with a BA in Business
only and should not be considered legal Administration with an emphasis in
Review the insurance and additional or other expert advice. The information Marketing and a minor in Communications.
insured requirements under the contract herein may help reduce, but is not His professional designations include being
and discuss with your attorney whether guaranteed to eliminate, any or all risk a member of LUTCF (Life Underwriter
Training Council Fellow) and AIC (Associate
those requirements require you to assume of loss. The information herein may be in Claims); however, he proudly says his
obligations past project completion. subject to, and is not a substitute for, preferred designation is D.A.D.
Consider whether there is an approach any laws or regulations that may apply.
that can help limit additional insured Coverage will be determined by the A native of Minnesota, Nate and his wife
coverage to the shortest period possible. facts of the claim and the terms of your Kathy are the parents of two awesome
Before you enter into a contract, you may policy, if approved for issue. All products kids and two incredible doodles. In his
consider confirming that your insurance and services not available in all states. spare time Nate and his wife Kathy have
carrier will offer the type of additional Qualified counsel should be sought with been Big Brothers Big Sisters mentors
insured endorsement requested before questions specific to your circumstances for their “little brother” Brady for eight
signing a job contract. and in developing policies and documents years. Nate is also a hospice volunteer
for your business. with his therapy mini-doodle, Lola.

SUBCONTRACTOR Nathan Oland is a Senior National © 2021 Federated Mutual Insurance Company.
WORK Account Executive in the Association Risk
Management Services (ARMS) department
Consider the risks when working with for Federated Insurance. His primary role
subcontractors. Do you have a history with is working with Federated’s national trade
them? Are they trustworthy? Work with associations and buying groups on their
your attorney to ensure that any contracts member’s underwriting, risk management,
created with subcontractors are clear and and claims services.
include terms appropriate to the work to
be performed. Some relevant terms may Since 1992, Nate has worked in Federated’s
include, but are not limited to: project Claims, Marketing, and ARMS departments.
scope, completion date, scheduling, Since 2006, Nate has authored dozens
payment, insurance requirements, safety, of articles and presented to hundreds
responsibilities, and provisions for dispute.
Standard contracts may offer some
benefits when contracting with
subcontractors, but it is recommended
you consult with an attorney before
signing anything. Your attorney can

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