Contractor - subcontractor

Understanding Certificates of Insurance

By | Business Insurance, Construction, Risk Management

    Many businesses rely on certificates of insurance (COIs) to verify coverage for other entities they do business with.  In particular the construction industry relies heavily on COIs in their operations.  But do all parties fully understand the benefits and potential problems of COIs? Benefits of COIs COIs do contain valid and pertinent information about the policies in effect for the Named Insured.  Items such as types of coverage, limits of coverage, effective and expiration dates, agent name and address, names of carriers providing coverage, etc.  All this information is useful to the certificate holder, especially for contractors at…

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