Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. Incorrect and fraudulent COIs are tools for third parties who want to hide their lack of proper coverage and want to remain employed.
Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. Incorrect and fraudulent COIs are tools for third parties who want to hide their lack of proper coverage and want to remain employed.
Experience usually equates as a good thing, right? Well, yeah, most of the time, but when it comes to your workers’ comp Experience Modification Rate,
How closely have you looked at your subcontractors’ certificates of insurance, or COIs? You could be in for a rude awakening if you haven’t poured over them thoroughly. Can we talk about additional insured endorsements?
Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. Incorrect and fraudulent COIs are tools for third parties who want to hide their lack of proper coverage and want to remain employed.
While a certificate of liability insurance form example can help you do your job, it can also be used to circumvent your insurance requirements. Your company should only accept valid COIs to confirm subcontractors are actively covered.
