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Compliance & Tax Documents
Certificate of Insurance (COI)
Also known as: COI, Insurance Certificate, Proof of Insurance
A Certificate of Insurance (COI) proves that a company has active insurance coverage for liability, auto, workers compensation, and other risks.
Issued By
Insurance Company/Agent
Received By
Business Partner/Customer
Retention
Duration of business relationship plus 3-7 years
When It's Required
- Vendor qualification
- Contract requirements
- Facility access
Legal Significance
Not a legally binding document itself, but proves that insurance policies exist. Many facilities and customers require COIs before allowing vendors on-site or entering contracts.
What Goes On It
| Field | Description | Required |
|---|---|---|
| Insured Name | Company holding the insurance | Yes |
| Policy Number | Insurance policy reference | Yes |
| Insurance Company | Carrier providing coverage | Yes |
| Policy Period | Effective and expiration dates | Yes |
| Coverage Types | General liability, auto, workers comp, etc. | Yes |
| Coverage Limits | Maximum payout amounts per occurrence and aggregateExample: $1M per occurrence / $2M aggregate | Yes |
| Additional Insured | Other parties covered under the policy | No |
| Certificate Holder | Entity requesting the COI | Yes |