Tag: commercial general liability

What Is a COI in Purchasing?

Purchasing, in business, refers to the organized acquisition of goods and services on behalf of a buying entity. Purchasing departments are hugely important in many industries, ensuring that items like raw materials, components, event decorations, etc. arrive in a timely manner and at a reasonable cost. While it may not be the responsibility of the […]

Written by myCOI on September 1, 2023

What Is a COI in Purchasing?

Purchasing, in business, refers to the organized acquisition of goods and services on behalf of a buying entity. Purchasing departments are hugely important in many industries, ensuring that items like raw materials, components, event decorations, etc. arrive in a timely manner and at a reasonable cost. While it may not be the responsibility of the […]

Written by on September 1, 2023

What Is a Certificate of Liability Insurance?

One very common type of insurance is liability insurance, which protects policyholders from the risks of liabilities imposed by claims relating to property damage and bodily injuries. (Note that we’re referring here to general liability insurance rather than professional liability insurance, which provides coverage for more consultative services.) Relatedly, it is a routine practice for […]

Written by myCOI on August 28, 2023

What Is a Certificate of Liability Insurance?

One very common type of insurance is liability insurance, which protects policyholders from the risks of liabilities imposed by claims relating to property damage and bodily injuries. (Note that we’re referring here to general liability insurance rather than professional liability insurance, which provides coverage for more consultative services.) Relatedly, it is a routine practice for […]

Written by on August 28, 2023

What Is Professional Liability on COI?

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 […]

Written by myCOI on August 4, 2023

What Is Professional Liability on COI?

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 […]

Written by on August 4, 2023

What Is a COI in Contracting?

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 […]

Written by myCOI on August 1, 2023

What Is a COI in Contracting?

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 […]

Written by on August 1, 2023

What Is a COI in Construction?

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 […]

Written by myCOI on August 1, 2023

What Is a COI in Construction?

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 […]

Written by on August 1, 2023

Why Do Companies Require a Business Certificate of Insurance?

Before you begin working with a contractor or other third party, it’s important to make sure that they’re not bringing any extra financial risk to your business. Of course, every new third party that you employ creates a new layer of risk for your company – unless they’re properly insured. Therefore, it’s a common business practice […]

Written by myCOI on May 25, 2023

Why Do Companies Require a Business Certificate of Insurance?

Before you begin working with a contractor or other third party, it’s important to make sure that they’re not bringing any extra financial risk to your business. Of course, every new third party that you employ creates a new layer of risk for your company – unless they’re properly insured. Therefore, it’s a common business practice […]

Written by on May 25, 2023

Why Does a Company Need a Certificate of Insurance?

A certificate of insurance (COI) is a legal document that provides proof of someone’s insurance coverage. Typically, it’s provided by an insurance company or agency and is used to verify that a policyholder has the necessary coverage in place to manage risk and protect their assets, especially when it comes to their hired third parties. […]

Written by myCOI on May 12, 2023

Why Does a Company Need a Certificate of Insurance?

A certificate of insurance (COI) is a legal document that provides proof of someone’s insurance coverage. Typically, it’s provided by an insurance company or agency and is used to verify that a policyholder has the necessary coverage in place to manage risk and protect their assets, especially when it comes to their hired third parties. […]

Written by on May 12, 2023

General Contractors NEED Automated Certificate of Insurance Software

Large general contracting firms must deal with a substantial volume of certificates of insurance because they usually hire third parties. A certificate of insurance (COI) is proof that contractors own sufficient coverage, protecting the company that hired them from being held liable in the event of personal or property damage. COIs occasionally vary in complexity, […]

Written by myCOI on May 10, 2021

General Contractors NEED Automated Certificate of Insurance Software

Large general contracting firms must deal with a substantial volume of certificates of insurance because they usually hire third parties. A certificate of insurance (COI) is proof that contractors own sufficient coverage, protecting the company that hired them from being held liable in the event of personal or property damage. COIs occasionally vary in complexity, […]

Written by on May 10, 2021

When You’re Your Own Business, Is Personal Liability Insurance Enough?

The freedom that comes with only answering to yourself and your customers can be worth the costs of running your own business. You can work when you want and live your dreams. Doing things your way can give you the results you demand. However, owning your business isn’t void of risk. Depending on your industry, […]

Written by myCOI on February 15, 2021

Commercial Liability Insurance is a Critical Decision

Starting a business is a major step usually taken by the strongest entrepreneurs. There are many decisions that go into forming and operating a company. There are also just as many details that must be considered. One important aspect is insurance coverage. Insurance offers a level of protection that the most solid business plans can’t. […]

Written by myCOI on January 25, 2021

Commercial Liability Insurance is a Critical Decision

Starting a business is a major step usually taken by the strongest entrepreneurs. There are many decisions that go into forming and operating a company. There are also just as many details that must be considered. One important aspect is insurance coverage. Insurance offers a level of protection that the most solid business plans can’t. […]

Written by on January 25, 2021