Tag: ACORD

What is a legal COI?

Businesses around the world utilize COIs to bolster their business partnerships and gain peace of mind when entering new dealings. Among the many things on business owners’ minds, they must make sure that the people they work with have appropriate insurance coverage as it pertains to their work. Most do so through COIs or Certificate […]

Written by myCOI on September 1, 2023

What is a legal COI?

Businesses around the world utilize COIs to bolster their business partnerships and gain peace of mind when entering new dealings. Among the many things on business owners’ minds, they must make sure that the people they work with have appropriate insurance coverage as it pertains to their work. Most do so through COIs or Certificate […]

Written by on September 1, 2023

What Is an Insurance Certificate for a Business?

An insurance certificate, also commonly referred to as a certificate of insurance or COI, is a document that summarizes the primary points of a policyholder’s insurance coverage.  COIs serve as evidence of coverage—they’re validation that a policy exists and is fulfilling the correct coverage requirements as laid out by a hiring party. Because they are […]

Written by myCOI on June 1, 2023

What Is an Insurance Certificate for a Business?

An insurance certificate, also commonly referred to as a certificate of insurance or COI, is a document that summarizes the primary points of a policyholder’s insurance coverage.  COIs serve as evidence of coverage—they’re validation that a policy exists and is fulfilling the correct coverage requirements as laid out by a hiring party. Because they are […]

Written by on June 1, 2023

What Is A Certificate Of Insurance (COI) For?

Businesses generally aim to mitigate their liability risk as much as possible. One important way that you can do this is by requiring that any contractors, service providers, or other vendors you work with provide you with a COI to ensure that your project is adequately covered in the case of any accidents or losses.  […]

Written by myCOI on May 22, 2023

What Is A Certificate Of Insurance (COI) For?

Businesses generally aim to mitigate their liability risk as much as possible. One important way that you can do this is by requiring that any contractors, service providers, or other vendors you work with provide you with a COI to ensure that your project is adequately covered in the case of any accidents or losses.  […]

Written by on May 22, 2023

Thompson Thrift

Thompson Thrift builds value from visibility with myCOI Thompson Thrift operates as a full-service development and construction company headquartered in Terre Haute, Indiana, with regional offices in Indianapolis, Houston and Phoenix. The company specializes in the design, construction and management of restaurant, retail and multi-family properties. During its more than 30 years in operation, the company has become nationally […]

Written by myCOI on May 8, 2023

Thompson Thrift

Thompson Thrift builds value from visibility with myCOI Thompson Thrift operates as a full-service development and construction company headquartered in Terre Haute, Indiana, with regional offices in Indianapolis, Houston and Phoenix. The company specializes in the design, construction and management of restaurant, retail and multi-family properties. During its more than 30 years in operation, the company has become nationally […]

Written by on May 8, 2023

What Is A Surety Bond and Why You Need One

What Is A Surety Bond? A surety bond is a financial tool that is used to guarantee the performance of an individual or business under specific circumstances. A surety bond functions as collateral, which can be forfeited if the individual or business does not fulfill its obligations as outlined in their contract and cannot be […]

Written by myCOI on December 22, 2022

What Is A Surety Bond and Why You Need One

What Is A Surety Bond? A surety bond is a financial tool that is used to guarantee the performance of an individual or business under specific circumstances. A surety bond functions as collateral, which can be forfeited if the individual or business does not fulfill its obligations as outlined in their contract and cannot be […]

Written by on December 22, 2022

The Wrong COI is Just as Bad as No COI

Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. One of the common certificate of insurance (COI), is called a general liability insurance certificate or a certificate of liability insurance, confirms the liability insurance coverage of the named insured. Companies […]

Written by myCOI on September 20, 2022

The Wrong COI is Just as Bad as No COI

Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. One of the common certificate of insurance (COI), is called a general liability insurance certificate or a certificate of liability insurance, confirms the liability insurance coverage of the named insured. Companies […]

Written by on September 20, 2022

The ABCs of Certificate of Insurance Compliance

Pretend you’re a new employee at either a property management or construction company, two types of businesses that hire third parties like vendors and contractors. You’re responsible for the company’s certificate of insurance compliance. However, you’ve been thrown into the job without proper training. You don’t know what a COI is or what to do […]

Written by myCOI on March 22, 2021

The ABCs of Certificate of Insurance Compliance

Pretend you’re a new employee at either a property management or construction company, two types of businesses that hire third parties like vendors and contractors. You’re responsible for the company’s certificate of insurance compliance. However, you’ve been thrown into the job without proper training. You don’t know what a COI is or what to do […]

Written by on March 22, 2021

When You Need a Sample COI, Think ACORD

A certificate of insurance (COI) establishes that an insured party has active coverage. This evidence lowers an employer’s risk when they hire contractors or vendors. If a third party hired by a company is not insured, then the company can be held liable in the event the third party injures themselves or those around them. […]

Written by myCOI on March 1, 2021

When You Need a Sample COI, Think ACORD

A certificate of insurance (COI) establishes that an insured party has active coverage. This evidence lowers an employer’s risk when they hire contractors or vendors. If a third party hired by a company is not insured, then the company can be held liable in the event the third party injures themselves or those around them. […]

Written by on March 1, 2021

Always, Always Remember that ACORD is not an Insurer

If you’re seeking liability insurance for your self-owned business or you’re an independent contractor, you might find yourself overwhelmed by all the different types of insurance. The multitude of information you have to deal with to become insured can make for difficult research. ACORD liability insurance is a popular topic for people who are in […]

Written by myCOI on February 14, 2021

Always, Always Remember that ACORD is not an Insurer

If you’re seeking liability insurance for your self-owned business or you’re an independent contractor, you might find yourself overwhelmed by all the different types of insurance. The multitude of information you have to deal with to become insured can make for difficult research. ACORD liability insurance is a popular topic for people who are in […]

Written by on February 14, 2021

The Good and the Bad of Certificate of Insurance Sample Forms

Liability insurance can save businesses from financial ruin just like it can help individuals. Businesses have the added responsibility to prove their third-party hires (contractors, vendors, etc.) are insured. A negligent party who injures someone else on the job might put their employer in danger of costly litigation. A certificate of liability insurance form proves […]

Written by myCOI on February 1, 2021

The Good and the Bad of Certificate of Insurance Sample Forms

Liability insurance can save businesses from financial ruin just like it can help individuals. Businesses have the added responsibility to prove their third-party hires (contractors, vendors, etc.) are insured. A negligent party who injures someone else on the job might put their employer in danger of costly litigation. A certificate of liability insurance form proves […]

Written by on February 1, 2021