Certificate of Insurance (COI)
A standardized document issued by an insurance agent or broker that provides evidence of insurance coverage, including policy types, limits, effective dates, and named parties.
Overview
A Certificate of Insurance, commonly abbreviated as COI, is the foundational document in insurance compliance. It serves as proof that a business or individual maintains active insurance coverage. COIs are requested by property managers, general contractors, landlords, and any party that needs assurance that a vendor or partner is properly insured.
How It Works
When a business needs to prove its insurance coverage — typically to satisfy a contractual requirement — it requests a certificate from its insurance agent or broker. The agent generates the certificate using a standardized form, most commonly the ACORD 25 in the United States.
The certificate summarizes key details from one or more insurance policies without modifying the policies themselves. It is an informational document, not a contract.
Key Details on a COI
- Producer: The insurance agent or broker who issued the certificate
- Named Insured: The business that holds the insurance policies
- Coverage Types: General Liability, Auto, Workers' Comp, Umbrella, etc.
- Policy Numbers: Unique identifiers for each listed policy
- Effective and Expiration Dates: The active period for each policy
- Limits: Maximum payout amounts for various claim types
- Certificate Holder: The entity that requested the certificate
- Description of Operations: Free-text field for project references and endorsement language
Common Misconceptions
A COI does not grant coverage to the certificate holder. It does not modify the underlying policies. And it is only accurate as of the date it was issued — a policy can be cancelled the next day without the certificate holder being notified (unless specific endorsements require it).
Example
A property management company hires a plumbing contractor. Before the contractor begins work, the property manager requests a COI showing at minimum $1,000,000 in General Liability coverage and naming the property manager as Additional Insured. The contractor's insurance agent issues the certificate and sends it to the property manager for verification.
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