Returning to the construction example, a general contractor may request COIs from subcontractors and require additional insured status on those policies. COIs vs. insurance binders ...

In September 2009, a change made to the Association for Cooperative Operations Research and Development’s (ACORD) Form 25, Certificate of Liability Insurance, eliminated language in the old form ...

The following are two examples of specific contractual insurance requirements. A construction contract may require the subcontractor to add: "[General Contractor] as Additional Insured, including ...

Cardullo adds that while premiums might seem high to a mechanical-electrical-plumbing (MEP) contractor, “the litigation and damages associated with some of those losses far exceed what that insurance ...

When you purchase liability insurance, the insurance company will usually provide an insurance certificate. Without a COI, a business owner or contractor may have difficulty winning contracts.

Certificates of insurance play an important function in doing business. Companies need a certificate to get work. A contractor needs one to get onto a jobsite. A trucker needs one to be able to pull ...

How to Request Insurance & Bonding From a Contractor. An insured, bonded contractor offers more financial protection if something goes wrong or someone is injured during construction.

Professional Liability: In the construction context, professional liability insurance usually covers losses arising out of professional malpractice claims. For example, it would cover a claim for ...

Once you’ve seen the certificate, it’s up to you to verify that the contractor’s policy has not expired, which you can do by calling the agent listed on the certificate.