Claims
- 1. A method for an indemnitee to verify insurance coverage of an indemnitor, comprising the steps of:
at least two parties entering into a contractual relationship that obligates the indemnitee to indemnify the indemnitor by maintaining contractually required insurance and to provide proof of the insurance; entering the contractual insurance requirements and related pertinent information into a database; requesting on behalf of the indemnitee proof of insurance from the indemnitor; a service provider or the indemnitee receiving the indemnitor's insurance coverage information; comparing the indemnitee's insurance coverage information with the contractual insurance requirements; and determining if the indemnitee is in contractual compliance.
- 2. The method of claim 1, further comprising the step of the indemnitee or the indemnitee's insurance agent or broker causing to issue or issuing insurance to bring the indemnitor into contractual compliance.
- 3. The method of claim 1, wherein the contractual relationship is reduced to a writing and the writing is summarized and entered into the database.
- 4. The method of claim 2, wherein the insurance is issued to protect the indemnitee in the event of uninsured or underinsured third-party liability claims.
- 5. The method of claim 3, wherein information regarding a certificate of insurance or an insurance endorsement is entered into the database.
- 6. A processor readable medium for tangibly embodying a series of instructions for performing the method steps of claim 1.
- 7. The medium of claim 6 which is selected from the group comprising a disk, RAM, ROM, and VROM.
- 8. The medium of claim 6 which is selected from the group comprising a hard disk, floppy disk, flash memory, and a compact disk.
- 9. A server system capable of being accessed by a remote computer over a computer interface for tangibly embodying a series of instructions for performing the method steps of claim 1.
- 10. The method of claim 1, wherein the risk of non-coverage is shifted from the indemnitee to the indemnitor.
- 11. A system for an indemnitee to verify insurance coverage of an indemnitor and for shifting the risk of insurance non-coverage of the indemnitor from the indemnitee to the indemnitor, comprising:
a server system for executing system processes and communicating with at least one remote computer over a communication interface, said server system including a processor coupled to memory executing system processes, said processes comprising: comparing the indemnitor's insurance coverage information with contractual requirements; and determining if the indemnitor is in contractual compliance.
- 12. The system of claim 11 wherein the communication interface is the Internet.
- 13. The system of claim 11 wherein the at least one remote computer is operated by at least one party, such as an indemnitor, an indemnitee, an insurance company, an insurance agent, an insurance broker, a landlord, a property manager, a franchiser, a franchisee, a public entity, a retailer, a tenant, a borrower, a lender, or a vendor.
- 14. The system of claim 11 wherein the memory is selected from the group comprising a hard disk, a floppy disk, RAM, ROM, EPROM, EEPROM, flash memory, volatile memory, read/write memory, CD-ROM, and DVD.
- 15. A computer readable medium having computer-executable instructions for performing a method, comprising:
comparing the indemnitor's insurance coverage information with the contractual requirements; and determining if the indemnitor is in contractual compliance.
- 16. The medium of claim 15 which is selected from the group comprising a hard disk, a floppy disk, flash memory, volatile memory, and read/write memory.
- 17. The medium of claim 15 which is selected from the group comprising a hard disk, a floppy disk, RAM, ROM, EPROM, EEPROM, flash memory, volatile memory, read/write memory, CD-ROM, and DVD.
- 18. The method of claim 1, wherein the service provider or the indemnitee receives the indemnitor's insurance coverage information by the indemnitor's agent entering the insurance policy information into the database or a system, or by faxing a certificate of insurance to the service provider or the indemnitee, which information is entered into the database or the system, or by faxing policy endorsements to the service provider or the indemnitee, which is entered into the database or the system.
- 19. The method of claim 1, wherein the database is part of a system and the system initiates new requests for proof of insurance when an indemnitor is not in contractual compliance, if the insurance coverage lapses, the certificate of insurance expires, or some other event.
- 20. The method of claim 1, wherein the database is part of a system and the system is capable of generating detailed reports, compliance reports, or management reports.
- 21. The method of claim 20, wherein the reports may be accessed by a remote computer.
- 22. The method of claim 2, wherein the insurance is issued if the indemnitor is out of contract compliance.
- 23. The method of claim 22, wherein the insurance is general liability insurance.
- 24. The method of claim 23, wherein the insurance remains in force during the time insurance is required of the indemnitor.
- 25. The method of claim 23, wherein the insurance only protects the interests of either the indemnitee or indemnitor (or both).
- 26. The method of claim 22, wherein the indemnitee or indemnitor pays the premium for the insurance.
- 27. The method of claim 26, wherein the indemnitee seeks reimbursement from the indemnitor for the premium and any related expenses for the insurance or indemnitor pays directly the premium and any related expenses for the insurance.
- 28. The method of claim 1, wherein digital images of certificates or endorsements are stored in the database.
- 29. A method for an indemnitee to verify insurance coverage of an indemnitor, comprising the steps of:
At least two parties entering into a contractual relationship that obligates the indemnitee to indemnify the indemnitor by maintaining contractually required insurance and to provide proof of the insurance to the indemnitee, the insurance is to protect the indemnitee in the event of uninsured or underinsured third-party liability claims; summarizing the contractual insurance requirements and related information; entering the contractual insurance requirements and related information into a database; requesting on behalf of the indemnitee proof of insurance from the indemnitor; a service provider or the indemnitee receiving the indemnitor's insurance coverage information; comparing the indemnitor's insurance coverage information with the contractual insurance requirements; determining if the indemnitor is in contractual compliance; and notifying the indemnitee whether the indemnitor is in contractual compliance or not.
- 30. The method of claim 29, wherein the service provider or the indemnitee receives the indemnitor's insurance coverage information by the indemnitor's agent entering the insurance policy information into the database or a system, or by faxing a certificate of insurance to the service provider or the indemnitee, which information is entered into the database or the system, or by faxing policy endorsements to the service provider or the indemnitee, which is entered into the database or the system.
- 31. The method of claim 29, wherein the database is part of a system and the system initiates requests for proof of insurance when an indemnitor is not in contractual compliance, if the insurance coverage lapses, the certificate of insurance expires, or some other event.
- 32. The method of claim 29, further comprising the step of the indemnitee or the indemnitee's insurance agent or broker causing to issue or issuing insurance so that the indemnitor is in contractual compliance.
Parent Case Info
[0001] This application is a utility patent application that claims the benefits of U.S. application Ser. No. 60/340,630, filed on Dec. 11, 2001, entitled SYSTEM AND METHOD FOR REQUESTING, RECEIVING, TACKING AND VERIFYING OR RECEIVING PROOF OF INSURANCE COVERAGE AND TRANSFERRING RISK TO UNINSURED OR UNDERINSURED PARTIES, which is hereby fully incorporated herein as though set forth in full.
Provisional Applications (1)
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Number |
Date |
Country |
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60340630 |
Dec 2001 |
US |