Tag: efficiency

ACORD 28

In many cases, when lenders make loans secured by real estate, they’ll want to ensure that the borrower has property insurance and a sufficient level of it to pay off the loan in the case of damages.  These lenders rely on getting proper proof of coverage through documents called certificates of insurance (COIs) for a […]

Written by myCOI on February 2, 2024

ACORD 28

In many cases, when lenders make loans secured by real estate, they’ll want to ensure that the borrower has property insurance and a sufficient level of it to pay off the loan in the case of damages.  These lenders rely on getting proper proof of coverage through documents called certificates of insurance (COIs) for a […]

Written by on February 2, 2024

ACORD 27 Form

Long ago, before the formation of the Association for Cooperative Operations Research and Development organization, or ACORD, there was little to no standardization in the insurance industry. Every insurer essentially created its own policy forms, causing confusion and differentiation in a sector that could sorely benefit from one “correct” way to do things. Thus, a […]

Written by myCOI on January 21, 2024

ACORD 27 Form

Long ago, before the formation of the Association for Cooperative Operations Research and Development organization, or ACORD, there was little to no standardization in the insurance industry. Every insurer essentially created its own policy forms, causing confusion and differentiation in a sector that could sorely benefit from one “correct” way to do things. Thus, a […]

Written by on January 21, 2024

ACORD Certificate of Property Insurance

The Association for Cooperative Operations Research and Development, known in shorthand as ACORD, is a nonprofit organization that issues and archives insurance forms. The forms they’re most known for standardizing are ones we talk about a lot: certificates of insurance, also known as COIs. Read on as we discuss the importance of ACORD certificates in […]

Written by myCOI on December 16, 2023

ACORD Certificate of Property Insurance

The Association for Cooperative Operations Research and Development, known in shorthand as ACORD, is a nonprofit organization that issues and archives insurance forms. The forms they’re most known for standardizing are ones we talk about a lot: certificates of insurance, also known as COIs. Read on as we discuss the importance of ACORD certificates in […]

Written by on December 16, 2023

Is a COI the Same as a Declaration Page?

Certificate of insurance Services, or COIs, are commonly used documents in business transactions where one party needs to verify another’s insurance coverage. This happens in many different scenarios across industries, such as when hiring contractors for a construction job or working with any third-party service providers.  Declaration pages are also popular insurance-related documents—but they do […]

Written by myCOI on October 27, 2023

Is a COI the Same as a Declaration Page?

Certificate of insurance Services, or COIs, are commonly used documents in business transactions where one party needs to verify another’s insurance coverage. This happens in many different scenarios across industries, such as when hiring contractors for a construction job or working with any third-party service providers.  Declaration pages are also popular insurance-related documents—but they do […]

Written by on October 27, 2023

How Expensive Is a COI?

As you may already know, without a proper certificate of insurance services (COI) collection and management process in place, you could be opening up your business to the risk of underinsured claims, costly litigation, failed audits, and more. Many people still have lots of questions about COIs, including what they do and the costs associated […]

Written by myCOI on October 22, 2023

How Expensive Is a COI?

As you may already know, without a proper certificate of insurance services (COI) collection and management process in place, you could be opening up your business to the risk of underinsured claims, costly litigation, failed audits, and more. Many people still have lots of questions about COIs, including what they do and the costs associated […]

Written by on October 22, 2023

Can I Make My Own COI?

We’ve said it before, and we’ll say it again: certificate of insurance services are hugely important documents. If you’re not sure what a COI is or are still confused about the details, don’t worry; our team of industry experts is here to provide the support that you need! Certificates of insurance (COIs) most commonly fill […]

Written by myCOI on October 13, 2023

Can I Make My Own COI?

We’ve said it before, and we’ll say it again: certificate of insurance services are hugely important documents. If you’re not sure what a COI is or are still confused about the details, don’t worry; our team of industry experts is here to provide the support that you need! Certificates of insurance (COIs) most commonly fill […]

Written by on October 13, 2023

How Do You Ask for a COI?

Working with contractors, external vendors, and other third-party service providers can be very convenient—but it also comes with risk. Any time you hire a new vendor, it is a best practice to confirm that they have adequate insurance coverage in place in order to do their job and not hold you liable for their potential […]

Written by myCOI on October 7, 2023

How Do You Ask for a COI?

Working with contractors, external vendors, and other third-party service providers can be very convenient—but it also comes with risk. Any time you hire a new vendor, it is a best practice to confirm that they have adequate insurance coverage in place in order to do their job and not hold you liable for their potential […]

Written by on October 7, 2023

How Do You Read ACORD 25?

The nonprofit organization ACORD is most well-known for its insurance documents. Essentially, a group of industry professionals got together in the 70s and decided that there needed to be more standardization, so they created a set of documents that covered necessary details and adhered to industry guidelines.  These documents are typically known as ACORD forms, […]

Written by myCOI on September 29, 2023

How Do You Read ACORD 25?

The nonprofit organization ACORD is most well-known for its insurance documents. Essentially, a group of industry professionals got together in the 70s and decided that there needed to be more standardization, so they created a set of documents that covered necessary details and adhered to industry guidelines.  These documents are typically known as ACORD forms, […]

Written by on September 29, 2023

What Is an ACORD Proof of Coverage?

ACORD forms are a topic that inevitably comes up for people working in and around the world of insurance coverage.  Let’s start here: The Association for Cooperative Operations Research and Development, or ACORD,  is a nonprofit organization that issues and archives standardized insurance forms.  Though not an insurance provider itself, ACORD is a very important […]

Written by myCOI on September 29, 2023

What Is an ACORD Proof of Coverage?

ACORD forms are a topic that inevitably comes up for people working in and around the world of insurance coverage.  Let’s start here: The Association for Cooperative Operations Research and Development, or ACORD,  is a nonprofit organization that issues and archives standardized insurance forms.  Though not an insurance provider itself, ACORD is a very important […]

Written by on September 29, 2023

What Is an ACORD 27?

ACORD, which stands for the Association for Cooperative Operations Research and Development, is a long-standing nonprofit organization aiming to standardize insurance forms across industries and use cases. Over the last 50 years, they’ve created hundreds of helpful forms for practitioners to use. ACORD forms are universally recognized documents that help verify insurance coverage while adhering […]

Written by myCOI on September 22, 2023

What Is an ACORD 27?

ACORD, which stands for the Association for Cooperative Operations Research and Development, is a long-standing nonprofit organization aiming to standardize insurance forms across industries and use cases. Over the last 50 years, they’ve created hundreds of helpful forms for practitioners to use. ACORD forms are universally recognized documents that help verify insurance coverage while adhering […]

Written by on September 22, 2023