Certificates of Insurance are critical to our business and provide information needed by policyholders. According to ProperttCasualty360. "One consultant estimates the cost to issue a plain-vanilla ACORD 25 document at $7; and if some customization is required, it could be as much as $15-18. This figure could go even higher when responding to requests that insist upon the completion of some sort of “compliance checklist” that consists of dozens of broad, vague, generalized questions about policy coverages."
Please visit the ACORD website to view the latest forms and be sure that your software includes the latest updates. ACORD Forms
Bill Wilson goes on to say that "The costs associated with certificates of insurance are not trivial, whether you’re considering operational expenses or potential E&O claims. To learn more about risk managing your certificates-of-insurance exposure, visit the Big “I” Virtual University’s free Certificate Resource Center at www.iiaba.net/VU.
And read the entire story at PropertyCasualty360
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