Official Big "I" Policy on Certificates of Insurance
Adopted by the IIABA Board of Directors on September 29, 2007
Certificates of insurance, evidences of insurance, and other documents developed to accomplish the same purpose (collectively “Certificates”) play a critical role in business transactions to provide information to third parties about the existence and amount of insurance issued to a named insured. The need for Certificates often arises from a contract between a named insured and another party which requires that the named insured have and maintain a particular amount and type of insurance for a specified period of time. Certificates also are sometimes requested by third parties seeking to confirm some interest in an insurance policy of a named insured.