Theme 27

A certificate of insurance is a document issued by or on behalf of an insurance company to a third party who has not contracted with the insurer to purchase an insurance policy. The most common type of certificate is that provided for informational purposes to advise a third party of the existence and amount of…

Insurance certificates can be dangerous documents that migrate between the insured, the insurers and many other third parties. These documents can be dangerous because they can be issued without legitimate need, or with inappropriate language which can leave the issuer with the potential for significant errors and omissions situation. To avoid these risks, first ask…

It is very important to read and analyze the language of the contract. For example, consider the situation where someone has written into the verbiage a hold harmless agreement, where the expectation of both insured and third party is that the contract of insurance will provide protection, like so: X Corporation hereby agrees to indemnify…