Without using hyperbole, thousands of certificates of insurance (COIs) are issued every day, and again without hyperbole, most of them are issued improperly. In fact, your agency may have issued an improper certificate as recently as this morning.
What is it about certificates of insurance that can get an agency in trouble? If there were just one or two things, it would make your job a whole lot easier. But in reality, there are about 27 different ways a COI can get you in trouble. OK, so 27 isn’t an exact number, but you get the idea. A “simple” COI is a potentially dangerous weapon against your agency.
Join me and Chris J. Boggs, from the Big “I” Virtual University, as we dig into COIs and reveal the new monster in town: the memoranda of coverage or memoranda of insurance.
Upper tier contractors are beginning to discover that the COI is what the COI is and not much can be done with it to give them comfort about the coverage in the referenced polices. Thus, they have created this new monster – the memoranda of coverage/insurance – to get YOU in trouble.
This session digs into the possible dangers of certificates of insurance and discusses things like:
- What is the problem with issuing a COI with no holder?
- Should the COI include all the requested Additional Insureds?
- Who should produce the COI?
- What wording should NEVER be used on a COI?
- How do you handle and manage a request for a Memoranda of Coverage/Insurance?
Consider presenting this webinar conference style so the entire agency can benefit! Plus, it’s only $49 to attend!
Wednesday, July 26, 2017
1:00pm – 2:30pm EST