Looking for a Certificate Of Liability Insurance?

myCOI brings certificate of insurance compliance management to a whole new level. We protect your company against the risk of underinsured claims, costly litigation and failed audits.

Automate Your COI Tracking

There’s no more need to worry about stacks of certificates cluttering up your office or hours of frustrating phone calls and emails to chase down certificates. myCOI Central provides your company with a solution to automate your insurance certificate requests, collection, and compliance resolution, while also giving your team a single, centralized repository to view compliance. 

Protect Your Business From Costly Claims

Ask your CFO or Risk Manager just how much claims and lawsuits can cost your business. If you are collecting certificates just to confirm they were received, you have no guarantee that your requirements are being met. myCOI Central is built on a foundation of insurance industry logic to ensure you remain protected with the appropriate coverage.

For Agents & Brokers

Win business and boost retention by providing agency branded, industry leading insurance tracking software to your insureds.  Offer software only or add on your own compliance review services.

"As a result of switching providers and partnering with myCOI, myself and our 11 Contract Administrators are spending about 1 hour of our time each week on insurance compliance versus 1 hour each day."
Victoria Pearson
Contract Administrator Manager
Alston Construction

Certificate Of Liability Insurance

A certificate of liability insurance is a form that is issued by an insurance company. If you view a certificate of insurance PDF, you may see that a certificate of liability insurance includes the various details needed for another company to verify the insured party’s insurance details. 

Certificate of insurance tracking is an incredibly critical task for risk management professionals. If your company hires third party contractors to do a project, then the contractors are responsible for having the proper insurance in order to do that contract work and be protected in case of any costly incidents or accidents.  

However, if they do not have the proper insurance or if they don’t have enough insurance, then your company that hires them may become responsible, both legally and financially. This may lead to a huge and expensive headache for your company. 

When viewing a certificate of liability insurance PDF example, you may see insurance details on the COI such as the type of coverage, the insurance company that issued the certificate, the policy number, who is insured, effective policy dates, as well as limit amounts and deductibles. All of this COI information then needs to be utilized to check for coverage details. 

As a team working in the risk management department, it is entirely possible to receive multiple certificates of insurance from third parties that the company is working with somehow. The risk management professionals then need to track and manage them and make sure that there is adequate insurance coverage. The risk manager is essentially responsible for working with the certificates of insurance that the third parties provide. 

Your company might be hiring contractors, vendors, and other third parties that do important or necessary work for you, work that needs to be insured so that your company does not have as high a risk of costly litigation as otherwise. 

Using myCOI, your team of risk management experts may be able to simplify the everyday tasks of managing and verifying certificates of insurance. This means that myCOI may be able to save companies valuable time as well as money. myCOI may be able to help protect companies against the risk of underinsured claims, costly litigation, as well as failed audits more effectively and efficiently. 

There are many challenges and needs that may come with a risk management professional’s responsibilities. There may be a large volume of COIs to process, detailed coverage requirements to check each COI for, and a need to verify with insurers that the certificate provided is valid and covers what it says it does. On top of all that, you may have to deal with third parties and their insurers when the coverage is not acceptable. This can potentially be costly and time-consuming. 

The insurance policy will inevitably vary in terms of coverage, which is something that the risk management professionals will need to check. They typically vary from 1 to 3 million dollars in case of an incident where litigation or other legal and financial steps need to be taken. 

Certificate Of Liability Insurance Template

The certificates of insurance are given by the third party to your company that is hiring them to do work. Your large company of course wishes to make sure the third party has adequate coverage. 

Certificates of insurance are typically standardized templates created by third party nonprofits. One of the most notable ones is ACORD, which creates a certificate of liability insurance template that may be very helpful for companies. 

The ACORD certificate of liability insurance form is basically a blank certificate of liability insurance form that needs to still be filled out. The certificate of liability insurance form PDF may be used by companies to facilitate the submission of the form to companies. 

If a company is searching for a certificate of liability insurance form PDF, a fillable one, in particular, it may wish to utilize the ACORD one. Thus, it may be a good idea for a risk management member to familiarize themselves with the certificate of insurance ACORD form. 

Certificate Of Liability Insurance ACORD

ACORD is a nonprofit organization that works to standardize paperwork for certificates of insurance. 

The ACORD 25 form, also called the ACORD 25 fillable, is the certificate of liability insurance. ACORD’s templates may be able to greatly simplify the process of filling out a COI. You may wish to search up an example ACORD certificate of insurance fillable, a recent one being the ACRORD 25 fillable 2021 year example. 

The ACORD certificate of liability insurance form may be able to help out a whole variety of industries and businesses that might need to provide a certificate of insurance. The certificate of insurance ACORD form can be relatively easy to understand and use among all the certificate of liability insurance form PDF fillable options. 

Since a COI is often required for a company or contractor to win contracts, consider checking out the ACORD certificate of liability insurance 2021 and fill out the ACORD certificate of liability insurance PDF to help sway contracts into going a company’s way. 

Of course, adequate and legitimate insurance coverage is necessary. That is what the risk managers have to do: they need to track and verify all of the certificates of insurance that come in, whether in the form of ACORD COI fillable forms or not. 

Once a risk manager has familiarized themselves with the ACORD fillable form for certificate of insurance, they may wish to consider using myCOI to make the management of the many certificates that the company receives easier. 

Certificate Of Liability Insurance Cost

A business’s insurance agent typically handles the cost to file a certificate of insurance with all of the insurance details on it. 

Many new companies may be wondering how to get a certificate of liability insurance, and may also worry about the certificate of liability insurance cost. It is good to do adequate research and be aware of the different options online that can help a company out with filing a certificate of liability insurance. 

If a company is getting a certificate of insurance, any costs accrued may depend on the state that which the company is based in. There are many states that have even made it illegal for agencies to charge fees when giving out a certificate of insurance. Of course, this depends on what exact state the agency and company are operating within.  

Depending on a third party’s pre-obtained coverage and insurance details, it usually should not take them more than several business days to receive their certificate insurance and then forward that information to your company that is hiring them. That is because many, if not most, insurance brokers may issue the third party their certificate of insurance within 24 hours after it has been requested. 

Certificate Of Liability Insurance For Small Business

A certificate of liability insurance for small businesses might differ from a certificate of insurance for business companies that are middle-market or large. A smaller company may struggle with the question of how to get a certificate of liability insurance, as well as wonder about the certificate of liability insurance cost for event. 

myCOI is valuable for risk managers because it may make certificate of insurance tracking easier for risk managers who need to track multiple certificates of insurance from all their contractors. 

Larger businesses may be able to take fuller advantage of myCOI. However, that does not mean that small businesses may not leverage the capabilities of myCOI to simplify the entire process of tracking and managing certificates of insurance. 

What myCOI does is to basically make the job of risk management agents considerably easier. The tracking of myCOI, especially if there are many certificates to be managed, may get complicated and confusing. myCOI may be able to speed up the process in a helpful way. 

Certificate Of Liability Insurance Form

When a company or third party contractor of some sort submits a certificate of liability insurance form, the risk manager may need to make sure that it isn’t a blank certificate of liability insurance form. The certificate of insurance ACORD form needs to have all of the required details for your company to double-check whether there is adequate insurance coverage and that the policies are legitimate. Acord is the organization that provides some of the frequently filled in insurance certificate forms. 

The often used form that is filled for the COI is the certificate of liability insurance form Acord 25. Searching up a certificate of insurance form sample might give you images and examples of the certificate of liability insurance form Acord provides companies. 

After searching for a certificate of liability insurance form example, companies and insurance agents may be able to better fill out and understand the certificate of liability insurance form PDF fillable. 

Of course, after the fillable form has been completed properly and submitted to a risk management agent, the risk manager has to then go and see whether that the insurance policies listed are actually enough protection for the company, and whether there are any discrepancies in the involved information.