Certificate of Insurance Glossary & Definitions
Clear, authoritative definitions for commercial insurance terms, ACORD forms, risk-transfer endorsements, and subcontractor compliance protocols.
Certificate of Insurance (COI)
A standardized document issued by an insurance broker serving as formal proof of insurance coverage, summarizing policy types, limits, and expiration dates.
ACORD 25 Certificate of Liability Insurance
The industry-standard one-page certificate form used by commercial brokers to report General Liability, Auto Liability, and Workers’ Comp policies.
Additional Insured
A person or organization added to an insurance policy by endorsement, granting them liability coverage under the primary policyholder’s policy.
Waiver of Subrogation
A contractual clause where an insurer relinquishes the right to seek damages from a negligent third party after paying a claim.
Primary and Non-Contributory
Policy language establishing that the contractor’s policy must pay out first before any other available insurance responds, without seeking contribution.
Completed Operations Coverage
Coverage protecting against liability for property damage or injury arising out of completed work, after a project is finished.
30-Day Notice of Cancellation
An endorsement legally obligating the insurer to notify the certificate holder 30 days before cancelling a policy.
CG 20 10 Endorsement
A standard ISO endorsement granting Additional Insured status to a third party for liability caused by ongoing operations.
Certificate Holder
The designated party listed on the bottom-left box of an ACORD 25 certificate who is entitled to receive proof of coverage and notices of cancellation.
Contractor Compliance
The ongoing process of verifying that independent subcontractors and vendors meet legal, safety, licensing, and insurance requirements before jobsite work.