What Is a COI in Purchasing?
Category: Insurance 101
What is a legal COI?
What Is a Certificate of Liability Insurance?
In the real estate industry, there are various cases where you may need to verify someone’s insurance coverage before hiring them. When a situation like this arises, you’ll use a COI, meaning a certificate of insurance services, to prove that they have the insurance policy and level of coverage that they say they do. COIs […]
Insurance policies and certificates of insurance services (or COIs, for short) are two very important legal documents in our space—but a lot of confusion exists around which one is which. Insurance policies can exist without certificates of insurance, but certificates of insurance could not exist without corresponding insurance policies, and in this blog, we’ll explain […]
Liability insurance is a type of coverage that aims to protect your company and any third parties you hire against claims and lawsuits stemming from accidents. While general liability insurance refers to coverage for physical liability risks such as bodily injury or property damage, professional liability insurance covers more abstract risks. In this blog, we’ll […]
Anything that causes injury or property damage could lead to a liability lawsuit. Ensuring that the third parties you hire have the necessary liability insurance is crucial for both your financial and regulatory protection, as well as theirs. Follow along as we cover the basics of liability insurance, the major differences between a certificate of […]
Contractors typically carry liability insurance to protect all parties from damage and on-site injuries if anything were to go wrong in the building process and to protect the parties hiring them from downstream risk. Many states legally require coverage as a prerequisite for contractors to get their business licenses. But how do contractors prove that […]
Certificates of insurance, also known as COIs, are important documents in the construction world. Contractors working in verticals with a high degree of risk, such as transportation, landscaping, and construction, need to know about COIs to ensure that they remain compliant and financially protected in the case of accidents. Follow along in our guide to […]
Here’s a real case study that should make every admin shiver just a little. Read what happens when inappropriate manual safeguards permit a fake certificate to slip through the cracks! Most in the business of insurance know that fake certificates of insurance are a real threat. Unfortunately, though, many aren’t aware of how common fake certificates may […]