Insurance Verification

Insurance verification is the core operational activity in COI compliance. It involves collecting certificates of insurance from vendors, reviewing coverage types, limits, endorsements, and named parties against contractual requirements, and confirming that all conditions are satisfied. Verification encompasses checking policy effective and expiration dates, confirming additional insured and waiver of subrogation endorsements, validating carrier AM Best ratings, and ensuring coverage limits meet or exceed minimums. Manual verification is time-consuming and error-prone, especially for organizations managing hundreds of vendors. Automated compliance platforms use AI-powered document parsing to extract certificate data and compare it against stored requirements. In practice, verification is not a one-time event but a continuous process that recurs at renewal, when contracts change, or when deficiencies are identified. Effective verification workflows include automated deficiency notifications to vendors and escalation paths for non-compliant records.