Insurance 101 – Vol. 71 – The Certificate of Insurance

The Certificate of Insurance

Based in New York, the Association for Cooperative Operations Research and Development (ACORD) is a global, nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance, and related  financial services ACORD has a long history of promoting the use of standards
on behalf of the insurance industry. It began in 1970 by countering the proliferation of proprietary forms through the creation of standard paper forms. Over the years ACORD has grown and evolved to meet the strategic and tactical needs of its membership. ACORD attempts to set standards—a set of rules and guidelines to provide a common framework for communication. ACORD believes that its standards allow different companies to transact business electronically with agents, brokers, and other data partners. By providing the insurance industry with a common communication method for use by many different insurers and insurance service organizations, the efficiency of the entire industry, it contends, is increased. One of ACORD’s forms is the Certificate of Insurance.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

Legal Disclaimer:

The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

 

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *