CERTIFICATE OF INSURANCE RESOLUTIONS By Cathy Trischan New Year’s Day is a time for resolutions, with many undertaking to exercise regularly, save money, and spend more time with family and friends. Why not make a few resolutions involving, what has become for many, one of the most frustrating aspects of being an insurance agent – issuing certificates of insurance? Let’s resolve to do the following in 2024!
GET THE INSTRUCTIONS The most commonly issued certificates of insurance are created by the Association for Cooperative Operations Research and Development (ACORD). ACORD 4
publishes a Forms Instruction Guide (FIG) for each certificate it creates. The FIG can give helpful advice when faced with a decision about how to complete a particular form.
USE THE RIGHT TOOL FOR THE JOB ACORD has a library of forms, each with a particular purpose. For example, the Certificate of Liability Insurance (ACORD 25) should be used only to provide information on liability coverages. For property coverage, ACORD has a separate form, the Certificate of Property Insurance (ACORD 24). And if the requestor is a mortgagee or loss JANUARY 2024
payee, one of the Evidence of Property Insurance forms (ACORD 27 or ACORD 28) is the better choice. Always use the most current edition of the ACORD form, and do not complete non-ACORD certificates without first checking with your insurance carrier.
MAKE SURE THE INFORMATION IS ACCURATE Confirm that any information included on a certificate of insurance is accurate. Usually, certificates are created by importing information from policies in the agency’s management system. This information may have been
