A Certificate of Insurance is a document issued by an insurance company or broker to provide evidence of insurance coverage to a third party. It summarizes key details of an insurance policy and confirms that the policyholder has purchased and maintains insurance coverage for a specific period of time.
Certificates of insurance are commonly used in business transactions and contractual agreements to demonstrate that the insured party has the necessary insurance coverage to meet certain requirements or obligations. For example, a contractor may provide a certificate of insurance to a client to demonstrate that they have liability insurance coverage before beginning work on a project. Similarly, a tenant may provide a certificate of insurance to a landlord as proof of renters insurance coverage.
Certificates of Insurance are often misunderstood. Learn common COI mistakes that can lead to denied claims, contract disputes, and project delays — and how to make sure your business coverage meets contract requirements.
Hosting corporate events or leasing properties to tenants serving alcohol brings liquor liability risks. While a Commercial General Liability policy offers some coverage, exclusions exist for businesses involved in alcohol sales. Mitigate risks by hiring trained bartenders and exploring additional coverage options with legal counsel.
Enacted in 2015, Massachusetts MGL Chapter 175L reinforces that certificates of insurance cannot modify policy terms. Despite this clarification, many businesses and clients still misunderstand the law, leading to ongoing compliance challenges.
Murphy Insurance Agency provides insurance solutions across Massachusetts and New England. Where you live is not a barrier to our assisting you. We are proud to serve the communities where our customers live and work, including Acton, Ashland, Ayer, Bellingham, Berlin, Blackstone, Bolton, Boston, Boxborough, Boylston, Chelmsford, Clinton, Concord, Devens, Dunstable, Fitchburg, Foxborough, Framingham, Franklin, Groton, Harvard, Holliston, Hopedale, Hopkinton, Hudson, Lancaster, Leominster, Littleton, Lunenburg, Marlborough, Maynard, Medfield, Medway, Mendon, Milford, Millis, Millville, Natick, Norfolk, Northborough, Northbridge, Pepperell, Sherborn, Shirley, Shrewsbury, Southborough, Sterling, Stow, Sudbury, Townsend, Upton, Uxbridge, Wayland, Westborough, Westford, Weston, Whitinsville, Worcester, and last but not least, Wrentham.