Categories: COI Compliance, Insurance 101, Small Business
An additional insured is a person or organization that is covered by an insurance policy, in addition to whoever originally purchased the policy. Many insurance carriers will offer blanket coverage to a policy that covers landlords, lessors, etc. However, some organizations require the specific entity to be added. If your contract requires that you list a company as your additional insured, make sure to include the language they used on your Certificate of Insurance.
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Most people list additional insureds because they are required to by a contract. Learn more about contract requirements, other endorsements, and how those requirements show up on a COI below!
Goodbye PDFs, Hello Live Certificates of Insurance!
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How to Read a COI Like a Pro
The certificate of insurance is perhaps one of the most important documents that exists in the world of contingent workforce management. Whether you’re working with
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DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Read your policy or consult with your agent for details. Your eligibility for particular products and services is subject to final underwriting and acceptance by the insurance company providing such products or services.
This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Be sure to read the policy, including all endorsements, or prospectus, if applicable.
Fraud is a crime
If your application contains purposefully misleading, absent, or inaccurate information, you could be charged with fraud. Your insurance carrier could potentially void your policy, or you could face civil or criminal charges or penalties.
Any person who knowingly and with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime.