Expert Insurance Knowledge
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Subrogation Waiver
The legal concept of subrogation means to substitute the rights, duties, and debts of an insurance claim to another party—specifically, the one at fault. While your insurance provider must, as part of your agreement with them, pay up for claims in the event of covered cases, there are times when another at-fault party’s insurance provider […]
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You’ll Never Reach 90% COI Compliance Without The Right Processes
Despite how good a company is at keeping up with certificate of insurance compliance, the goal of any company should always be to improve their compliance rates—along with the tracking processes. Since each compliant COI represents protection from significant risk, the financial security of your company depends on keeping the compliance rate as high as […]
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What Annoys You About Your Certificate of Insurance Tracking Procedures?
As a Certificate of Insurance (COI) administrator, you have your hands in a lot of different tasks, and it’s very likely that certificate tracking is just one of the many responsibilities that you have on your shoulders. At myCOI, we understand how much you’re tasked with: from collecting and reviewing certificates to checking endorsements for […]
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A Certificate of Insurance Falling Through the Cracks Can Cost Millions. How Do You Prevent That?
Even the most diligent risk management and certificate of insurance compliance teams are expected to make mistakes now and again. As an executive of an organization that works with subcontractors and 3rd party vendors on a frequent basis, you certainly understand this. That’s why like any good leader, you’ve implemented procedures to ensure greater control […]
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What is an Insurance Endorsement?
Followers of our blog know the importance of requiring additional insured endorsements from downstream third parties. Think of endorsements as an amendment to the standard insurance policy and additional insured is just one of many types. In this article, we provide guidance on insurance endorsements and why they are such an important part of a […]
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Get Your Team Off Your Back About COI Tracking
As you know all too well, the Certificate of Insurance (COI) is a very important document, and as someone who is tasked with tracking the certificates, you know there is a lot of pressure associated with the process. From collecting and reviewing all of the documents and policies, to following up with the subcontractors and […]
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