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 […]

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 […]

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 […]

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 […]

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 […]

As a COI or compliance administrator, you have a lot on your plate. The entire COI review and collection process that you go through for every 3rd party vendor or subcontractor can be simply overwhelming. And on top of that, the terms and language used in the world of insurance can be downright confusing and […]

Where do I start? So you’ve gone through the process of obtaining Certificates of Insurance from all your subcontractors/vendors/franchisees/tenants. What’s next? You want to review them, right? You’re probably thinking ‘Where do I start’? Start at the beginning! Let’s take a look at one of the very first boxes at the top of an ACORD […]

In one of our latest posts entitled, “Why Bother Getting a COI For Each New Subcontractor or 3rd Party Contract?” we discuss why it’s important to secure a Certificate of Insurance (COI) for each vendor that does work for your organization. The post explains that COIs are designed to prove status of insurance including items […]

We’ve discussed additional insured status in several of our previous posts because it’s an important topic for those that are contracting out services, using vendors, leasing to tenants, and so on. If additional insureds are listed incorrectly or are left off of the endorsements altogether, the consequences can be very severe and will not hold […]

As we discussed in a previous post, it’s incredibly important to collect and review additional insured and waiver of subrogation endorsements to ensure your vendor is properly covered and has the right documentation in place. It’s equally important to understand that reviewing the COI simply isn’t enough as often times it’s impossible to understand if […]