COI Review Checklist Standardize your insurance validation.
This guide provides an operational checklist for reviewing Certificates of Insurance (COI) to help teams identify potential gaps and maintain accurate compliance records.
How can I standardize my COI review process?
By using a consistent checklist, your team can systematically verify coverage types, limits, and endorsements.
Operational Steps
Standard COI Review Workflow
Verify Policy Dates
Check that the policy is currently in effect and note the expiration date for future monitoring.
Confirm Limits
Ensure the liability limits on the COI meet or exceed your organization's minimum requirements.
Check Required Endorsements
Look for proof of Additional Insured or Waiver of Subrogation statuses if your contract mandates them.
Validate Insurer Ratings
Check that the issuing carriers meet your minimum financial strength or rating requirements.
Key Concepts
Important COI Terminology
Additional Insured
A party that is added to the vendor's insurance policy to extend coverage, as required by contract.
Waiver of Subrogation
A contractual clause where the insurer gives up its right to recover damages from a third party.
COI vs. The Insurance Policy
Remember that a Certificate of Insurance is merely a snapshot of coverage at a specific point in time. It is not the insurance policy itself. Always consult your insurance broker or legal counsel if you identify discrepancies.