Tag: COI

Managing Certificates of Insurance (COI) Successfully

Certificates of Insurance (COI) are an essential part of managing liability in an organization. Failing to properly obtain, inspect, and update these documents can lead to risk transfer from contractors and increased exposure to unforeseen liabilities. As George Page writes, “These certificates are an important part of doing business, and the more effectively you manage them, the less likely you are to run into problems.”

A manual process for COI management can easily become resource draining nightmare. In Why You Should Be Concerned with Certificate Tracking Gibson highlights, “… properly managing certificates of insurance poses a significant administrative challenge. It is time intensive and complex.” It is this combination, time intensity, and complexity, that creates the administrative burden frequently associated with certificate management. A closer look reveals how each component contributes to this burden.

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