myCOI exists for one reason—to handle the everyday task of managing certificates of insurance and protecting our clients against underinsured claims, costly litigation and failed audits.
Regardless of the size of company, when Certificates of Insurance are collected only to confirm they have been received, there is no guarantee that contract requirements are being met. Tracking and managing COIs to confirm all limits, endorsements, and insurance requirements are in place allows the transfer of risk and other exposures in the event of an accident or claim.
What industries use myCOI Central?
Any industry where companies issue and track Certificates of Insurance. Literally. We currently have clients in almost every industry, from property management and construction to sports and entertainment.
Risk Cost Analysis
Of course, when purchasing risk avoidance products, it’s important that the tool pays for itself. Business owners researching these tools should consider these questions:
- How are certificates currently being collected?
- What is the payroll for the average employee that has spent their entire day tracking down a compliant certificate of insurance?
- Is anyone actually doing this?
- How much is a typical lawsuit?
- What is the price of your safety reputation?