A certificate of insurance (COI) is a document issued by an insurance company or broker.
The certificate verifies the existence of an insurance policy and contains the name
of the insurance company, policy number, name of the insured, types and limits of
coverage, and the policy period (among other information). It identifies what insurance will cover for the named insured, and what financial
protection might be available in the event of a loss. It gives no rights to the entity
for whom the certificate is being requested in regard to the actual insurance policy.
Neither can it alter or modify coverage(s) on the actual policy.
Keep in mind that a COI is a snapshot of their coverage as of a moment in time. It
is possible for the entity / person you are working with to cancel their policy after
they have given you a COI. This is why contractually requiring the entity / person
to carry insurance is always recommended.
