Workers Compensation Certificates of Insurance - The Basics

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What Is A Certificate of Insurance:

A Certificate of Insurance (COI) is an informational document that provides details about insurance coverage to someone who has asked for that information to be provided.

Certificates are provided either by the insurance company who issued the policy or by an insurance agency who represents the insurance company and issues the document on behalf of the insurance company.

Most insurance certificates are issued to provide insurance policy information to interested third parties. They are usually produced as a requirement of a contract between the named insured on the policy and the third party involved. A Certificate of Insurance typically provides to the certificate holder proof that an insurance policy exists and shows the limit or amount of insurance provided on the policy. Many times a certificate of insurance will also convey information to the certificate holder as required under their contract with the named insured such as being shown as an additional insured or having coverage limited to a specific job or location.

A Certificate of Insurance is also commonly known as:

An Insurance Certificate; A COI; Certificate; Proof of Insurance;

So don't be confused, even though it may be called different things, a Certificate of Insurance is just a piece of paper that shows proof of coverage at the time it was issued.

You'll find as you read through our pages about Certificates of Insurance that we've provided you with a basic knowledge on the working functions of a Certificate of Insurance. We've also provided you with some real world information as to the effect certificates have on any workers compensation policy. So if you are a contractor or if your business uses subcontractors pay close attention to this section of our website. And always remember to have your workers compensation policies and audits reviewed by a professional workers compensation consulting firm. It is your only protection assurance that you are paying the proper premium and not overpaying for your workers comp insurance.

You will find these other helpful topics in our section about Certificates of Insurance and workers compensation:

What a certificate of insurance cannot do; The effect a certificate of insurance has on the cost of workers compensation insurance; How a certificate of insurance can effect workers compensation claims; Who needs an insurance certificate; Where do you get an insurance certificate; Information provided on a certificate of insurance; Contractors, subcontractors and insurance certificates;

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