Tag: Risk Management & Compliance Insights

Innovation Showcase Names Pitch Contest Winner

Posted: Jul 15, 2016 7:57 AM EDT; By Dan McGowan, Writer/Reporter SPEEDWAY – The Venture Club of Indiana has announced the winners of the pitch competition at this week’s Innovation Showcase at the Dallara IndyCar Factory in Speedway. The results were determined by a panel which judged three categories: University Track, Start-Up Track and Scale-Up […]

Written by myCOI on July 25, 2016

Innovation Showcase Names Pitch Contest Winner

Posted: Jul 15, 2016 7:57 AM EDT; By Dan McGowan, Writer/Reporter SPEEDWAY – The Venture Club of Indiana has announced the winners of the pitch competition at this week’s Innovation Showcase at the Dallara IndyCar Factory in Speedway. The results were determined by a panel which judged three categories: University Track, Start-Up Track and Scale-Up […]

Written by on July 25, 2016

How Insurance Agents Are Grabbing Massive Earning Potential

Let’s face it: insurance has become a cutthroat industry. And clients, unfortunately, have little loyalty to their agents.  Successful agents are putting themselves at a competitive advantage by going beyond the policies and helping their clients boost compliance, save time, and improve internal processes. By offering unique services and adding incredible value these agents are […]

Written by myCOI on May 13, 2016

How Insurance Agents Are Grabbing Massive Earning Potential

Let’s face it: insurance has become a cutthroat industry. And clients, unfortunately, have little loyalty to their agents.  Successful agents are putting themselves at a competitive advantage by going beyond the policies and helping their clients boost compliance, save time, and improve internal processes. By offering unique services and adding incredible value these agents are […]

Written by on May 13, 2016

What would an audit of your certificates of insurance reveal?

You all know this, a certificate of insurance is only a snapshot of insurance coverage at that date and time. In order to minimize confusion of a COI to actual coverage, agents know to use the ACORD forms, never alter the language of the COI and not to represent coverages on the certificate that do […]

Written by myCOI on December 9, 2015

myCOI vs. Current Tracking Methods: Are You Using the Hammer or the Nail Gun?

“There’s a way to do it better – find it.” – Thomas Edison Think about your COI-tracking process. Is it tedious? Time consuming? Subject to human error? Maybe your process is manual, performed by an administrative professional with little-to-no insurance expertise. On a good day, it’s a warren of spreadsheets and binders and paper printouts. […]

Written by myCOI on August 31, 2015

Waiting for Cancellation Notices: Are You Putting Your Company at Risk?

It’s conventional wisdom: You’re named as an additional insured on a third-party policy. The policy lapses. You get a cancellation notice and follow up to ensure compliance. Right? Don’t be so sure. In a perfect system, notice of a policy cancellation would come in before (or shortly after) the actual cancellation date. You’d have sufficient […]

Written by myCOI on August 31, 2015

Waiting for Cancellation Notices: Are You Putting Your Company at Risk?

It’s conventional wisdom: You’re named as an additional insured on a third-party policy. The policy lapses. You get a cancellation notice and follow up to ensure compliance. Right? Don’t be so sure. In a perfect system, notice of a policy cancellation would come in before (or shortly after) the actual cancellation date. You’d have sufficient […]

Written by on August 31, 2015

The Importance of A Signed Contract

It denotes ownership on leases. It establishes liability on doctor forms. It validates checks. And it’s arguably the most important part of any contract or written agreement: your signature. Without it, documents are difficult—if not impossible—to dispute and enforce. And when it comes to certificates of insurance (COIs), an unsigned contract means no relationship has […]

Written by myCOI on July 30, 2015

The Importance of A Signed Contract

It denotes ownership on leases. It establishes liability on doctor forms. It validates checks. And it’s arguably the most important part of any contract or written agreement: your signature. Without it, documents are difficult—if not impossible—to dispute and enforce. And when it comes to certificates of insurance (COIs), an unsigned contract means no relationship has […]

Written by on July 30, 2015

The Basics of Quarterly Tracking

No matter your industry, no matter your role, it’s rare to find someone who enjoys preparing for an audit—especially regarding the validity of certificates of insurance (COIs). And what ends up being the biggest crutch isn’t the sheer volume of certificates to locate and review, but rather that contracts aren’t compliant, have expired, are fraudulent, […]

Written by myCOI on July 30, 2015

The Basics of Quarterly Tracking

No matter your industry, no matter your role, it’s rare to find someone who enjoys preparing for an audit—especially regarding the validity of certificates of insurance (COIs). And what ends up being the biggest crutch isn’t the sheer volume of certificates to locate and review, but rather that contracts aren’t compliant, have expired, are fraudulent, […]

Written by on July 30, 2015

myCOI names new Director of Client Services

INDIANAPOLIS, IN – myCOI, an Indianapolis-based insurance technology company, has named Kathleen Moffat as their new Director of Client Services. Orchestrator of results, efficiencies and client satisfaction for myCOI, Moffat will be responsible for building and guiding the certificate management and customer care teams. She’ll also plan, develop and manage client projects and expectations. “We’re […]

Written by myCOI on July 9, 2015

myCOI names new Director of Client Services

INDIANAPOLIS, IN – myCOI, an Indianapolis-based insurance technology company, has named Kathleen Moffat as their new Director of Client Services. Orchestrator of results, efficiencies and client satisfaction for myCOI, Moffat will be responsible for building and guiding the certificate management and customer care teams. She’ll also plan, develop and manage client projects and expectations. “We’re […]

Written by on July 9, 2015

Checking More Than Just Expiration Dates

It’s no secret: getting—and validating—certificates of insurance (COIs) can be a tedious process. And because of that, many people choose to check only expiration dates. However, without a review process that goes beyond expiration dates, you can’t guarantee contractual risk transfer. That means you could be in for a rude (read: expensive) awakening. Increased Risk […]

Written by myCOI on June 10, 2015

Checking More Than Just Expiration Dates

It’s no secret: getting—and validating—certificates of insurance (COIs) can be a tedious process. And because of that, many people choose to check only expiration dates. However, without a review process that goes beyond expiration dates, you can’t guarantee contractual risk transfer. That means you could be in for a rude (read: expensive) awakening. Increased Risk […]

Written by on June 10, 2015

Additional insured Endorsements Are Not Created Equal

Additional insured endorsements come in all shapes and sizes. There are more than 1,000 forms that can each be submitted in place of the two most common additional insured documents (CG 20 10 11 85, CG 20 37 10 01). And in every case, the language in that form—and more importantly, the interpretation of that […]

Written by myCOI on June 10, 2015

Additional insured Endorsements Are Not Created Equal

Additional insured endorsements come in all shapes and sizes. There are more than 1,000 forms that can each be submitted in place of the two most common additional insured documents (CG 20 10 11 85, CG 20 37 10 01). And in every case, the language in that form—and more importantly, the interpretation of that […]

Written by on June 10, 2015