Courts have generally held that certificates of insurance are not contracts and, therefore, not enforceable. However, this doesn’t mean that agents are insulated from lawsuits involving certificates of insurance under…
All too often, agents are asked by third parties to sign an “agent affidavit” attesting that an insured’s insurance program complies with a contract the insured has signed with that…
We get more “Ask an Expert” questions about certificates of insurance than any other single topic…there isn’t even a close second. Most recently we were asked when should you check…
Is there any other nonrevenue generating agency activity that takes as much time and causes as much consternation as processing certificates of insurance and related documentation? Have you ever taken…
Recently we conducted teleconferences on certificates of insurance based on our white paper, “Certificates of Insurance: Issues and Answers.” Following these teleconferences, we received a number of questions which, along with “answers,”…
Some lenders are refusing to accept the current editions of the ACORD 27 and 28 and insist that agents issue the 2003 editions of these forms. There are several reasons…
Many insurers don’t want their agents to copy them on certificates they issue. Other carriers have expressed their intent to NOT copy certificate holders on cancellations. In some instances, even…
It’s been over 7 years since the ACORD 25 was revised, but a new version came out this month. Changes include several revisions in the Coverages section and a Disclaimer…
Agencies are often asked to review contracts of insureds and/or to issue “nonstandard” certificates. Does your agency have a standard procedure for processing certificates? If so, the VU would like to hear…
Your insured contractor has gotten a job where the insurance requirements include at least $1,000,000 in CGL coverage. Your insured has a $2,000,000 CGL occurrence limit. He doesn’t want them…
