5 Foundational Insurance Concepts Producers Need to Know in 2025
As we head into a new year, there’s no better time to equip producers with foundational insurance industry knowledge and concepts.
Certificates of Insurance
Can a COI List Lower Limits than the Umbrella?
An insured has a $5-million limit on their umbrella policy but wants to show only a $2-million limit on the certificate of insurance. Is it permissible for an agent to list lower limits on the COI than what the policy actually provides?
Determining COI Limits When a Claim Has Been Submitted
An agent is issuing a new certificate of insurance with policy limits of $1 million/$2 million. The agent knows of a $500,000 claim. What policy limits should be shown on the COI?