Opinions vary regarding the benefit of certificates of insurance versus the staff time investment they require. And it's not always easy to figure out what a COI certifies to a third party, what information to include in it, what constitutes acceptable language and who should receive copies of the form.
Good news: As a member of the Big “I," you have access to an outstanding source of information and answers: the Certificates of Insurance Resources area of the Big “I" Virtual University (VU), which compiles a multitude of invaluable references in one convenient location.
Here's a sneak peek of what you'll find:
- Comprehensive COI white paper, in both full and executive summary modes
- Links to numerous VU articles on key COI topics, including:
- COI best practices
- Primary and noncontributory
- ACORD and notice of cancellation
- Indemnity agreements and agent affidavits
- Cost of COIs
- What to enter in the ACORD 25 Description of Operations field
- Should agents send COIs to insurers?
- Downloadable articles on COI issues
- Links to key COI court cases
- COI issues and answers compiled from VU Ask an Expert queries
The COI conversation continues live during The Never Ending Problem with Certificates of Insurance
webinar, to take place Aug. 15 at 1 p.m. ET. This 90-minute session will review the purpose of certificates, answer the 21 most common COI questions and explore some of the more unusual queries we've received.