When you receive a Certificate of Insurance (COI), you need to know who the broker of record is and who the certificate holder is. Those roles determine who is responsible for the coverage and who the insured promises to protect. Reading a COI correctly prevents gaps in your vendor liability management.

Key Players on a COI

Broker of Record

The broker of record (BOR) is the insurance broker who actually placed the policy. The BOR is listed on the COI to show which agent is handling the coverage. This information matters if you need to verify that the policy was sourced through a reputable channel.

Certificate Holder

The certificate holder is the party requesting proof of insurance – often a property manager, general contractor, or event venue. The holder’s name appears on the COI to indicate who is protected by the insured’s coverage, typically through an “additional insured” endorsement.

How to Read the Main Sections of a COI

  • Named Insured: The business or individual that owns the policy.
  • Policy Effective Dates: Start and expiration dates. Verify the policy covers the entire project timeline.
  • Coverage Types and Limits: Lists each coverage (e.g., General Liability, Workers’ Compensation) with typical minimums such as $1 million per occurrence.
  • Additional Insured: Shows if the certificate holder is added to the policy, extending coverage to them.
  • Waiver of Subrogation: Indicates whether the insurer gives up the right to sue the certificate holder for a loss.
  • Certificate Holder: The entity that requested the COI; should match your contract’s listed party.
  • Broker of Record: The agent who placed the policy; useful for follow‑up if you need to confirm details.

Common Mistakes to Avoid

  • Assuming the COI is a policy. It’s only proof of coverage at a point in time.
  • Overlooking the expiration date. A lapsed policy leaves you exposed.
  • Missing the additional insured endorsement. Without it, the certificate holder may not be covered.
  • Confusing the broker of record with the insured’s own broker. The BOR is the source of the policy, not necessarily the vendor’s internal agent.

To keep these details straight and never miss a renewal, consider using CertWatch. The platform automatically notifies the vendor’s insurance agent when a COI is about to expire and tracks every certificate in one place.

Bottom line

Understanding who the broker of record and certificate holder are, and reading each COI section carefully, protects your business from uninsured gaps. Simple checks now save headaches later.