A certificate of insurance is a document summarizing selected insurance information, but it generally does not change the policy or create coverage by itself.
Definition
A certificate of insurance, often called a COI, presents selected information such as named insured, policy types, limits, and policy dates as shown when the certificate is issued. Clients may request one to document that a firm has reported coverage matching specified requirements. The certificate is not the insurance contract and generally does not amend policy terms, add an insured, or guarantee that coverage remains in force. The policy, endorsements, and current status determine coverage. Firms use COIs for administrative verification and contract records, while checking the actual policy documents when they need to understand coverage. Requirements and certificate handling can vary by client and agreement. A COI is not a substitute for reviewing exclusions, retroactive dates, limits, or reporting conditions. Owners may coordinate requests with their broker and contract reviewers so the document matches the request without implying broader coverage than the policy provides.
How owners use it
- A firm logs COI requests, recipient details, required policy types, and delivery status for each client.
- A client requests $2 million in general liability limits, and the firm checks the policy documentation before issuing a certificate that reports the applicable limit.
- Owners compare certificate details with contract insurance requirements and follow up on discrepancies.
- The firm keeps the COI with contract records while treating policy forms and endorsements as the coverage documents.
