My Name Is Not On the Certificate of Insurance...

If you receive a Certificate of Insurance (COI) that does not have your name on it or one that says “For Informational Purposes Only” , what should you do?

If you're just aiming to pass an audit, your name not being on the Certificate of Insurance (COI) might be acceptable. However, for genuine protection, it's crucial to receive the COI directly from the insurance agent and review the policy's endorsements and exclusions; having your name on the COI can indicate its authenticity.

First, you should consider where you got it from

If the Certificate of Insurance does not have your name on it, there is a good chance that this is because you received it from the subcontractor rather than from the subcontractor’s insurance agent. The risk with getting an Insurance Certificate from the contractor is that Certificates of Insurance can be faked.  It is more reliable to get your COI directly from the insurance agent.

But Does it Matter if my name is not on the Insurance certificate?

However, if you want to not only pass an audit but also ensure that you are protected, you want to be sure that your subcontractor actually has the needed insurance. You must ask your subcontractor to tell their insurance agent to send you a COI directly.  Also request the policy itself so that you can check important endorsements (like additional insured) and important exclusions. The policy itself is actually more important than whether or not your name is on the COI. However, your name being on the certificate can be a sign that it is more likely to be authentic.

ADditional Insured Status is better 

Keep in mind, just because your name is on the Insurance Certificate, that does not mean that you actually have any protection.  If the certificate only has your name on it and no endorsements, the only thing that really does it make sure you know that if the contractor gets sued, they have protection.  It does not insulate you if their work causes you to get sued.

For more information on Certificates of Insurance, check out our comprehensive guide to insurance certificates by clicking here.

Have questions about Certificates of Insurance?

Veritas Risk Management, Inc. offers proactive risk management services covering a wide variety of topics. Veritas Risk Management, Inc. does not engage in the practice of law, accounting, or tax consulting.  We encourage everyone to consult with his or her own professional advisor for details concerning his or her specific facts, situations, and circumstances.