ACORD 75
A standardized ACORD form used as an insurance binder that provides temporary evidence of coverage before a formal policy is issued.
The ACORD 75 insurance binder serves as temporary proof of coverage, typically issued when a policy has been bound but formal policy documents have not yet been produced. Binders provide immediate evidence of coverage so that business operations—such as commencing construction or executing a lease—can proceed without delay.
In COI compliance, ACORD 75 binders require careful handling. While they represent valid coverage, binders are temporary documents with short durations, usually 30 to 90 days. Compliance systems should track binder expiration dates and flag accounts where binders have not been replaced by formal certificates within expected timeframes.
Compliance teams should accept ACORD 75 binders as interim evidence of insurance while flagging them for follow-up. Automated workflows should generate reminders to request permanent certificates before binder expiration. Treating expired binders as compliance gaps ensures vendors transition to formal documentation promptly.
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