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Add countersignature Certificate of Insurance

in one of our last videos we explained what is a coi and why most companies need them now that we already know the concept behind it in this video i'm going to walk you through every single component that makes up a complete certificate of insurance the most commonly used type of certificate of insurance or coi is the accord 25 form it contains all of the most pertinent details of your insurance policies on a standardized single page form it is important to note that this is just proof of insurance a coi is simply intended to summarize and streamline access to the most important information in your policy including the type of coverage what it covers the effective date of the policy and the policy limits now note there are many different edition dates and versions of the accord form so not all forms will look the same to facilitate learning we will provide a coi template in the description below just click the link and download the file to your computer now that you've downloaded your coi i've downloaded mine yours may not be as big as mine but size doesn't matter yeah please refer to the numbered sections on the sample certificate of insurance as you follow along with the breakdown let's get started number one the issue date this is the date the insurance agency created or modified the certificate of insurance easy no number two the producer this is the name of the insurance agency or broker that issued the certificate number three the producer's contact information is often listed in this section so you can reach out to the agent if you have any questions or need to request revisions not all agents will work with third parties for revisions so you may have to bring in the vendor the person who purchased the insurance policy when requesting corrections number four insured the named insured on the policy has important rights and obligations that include paying the premium receiving notice of cancellation adjusting claims and making policy changes this is the person or company who purchased the insurance number five insurance carriers this list reflects the various carriers that are providing the insurance policies for the insured listed in section four sometimes all policies are from one insurance carrier but other times there is a different carrier for different policies number six you can tell which carrier provided which policy by looking at this column to the left of the policies number seven the naic carrier is the five-digit code assigned to each insurance carrier that is used to search for carrier ratings on the am best rating system the amvest rating system is a carrier ranking system that analyzes the company data to determine whether or not a carrier is in good financial standing the policy commercial general liability is clearly labeled on the form so those are easy to find eight an x in the claims made or occurrence box...