Certificate Holders Process

[Milkman1265]

Are you guys endorsing certificate holders only with the carriers or are you just issuing them in your AMS/Acord forms.

How do you keep track who has a cert and when to notify if policy is canceled?

 

[BigIVU]

Certificate holders shouldn't be notified of cancellation unless the policy grants such notice and, if so, such notice should come from the carrier.

 

[Indiana_Adam]

Like Big said, certificate holders do net get notified.

Additional insureds will get notice if the policy cancels. Depending on how the policy is setup, there may or may not be a charge for the additional insured.

 

[BigIVU]

Many policies provide for cancellation notice only to the First Named Insured.

 

[Arnage150]

U'd spend half your day if you sent out cancels every time a policy cancelled.
That being said per PIA you are not responsible for sending them out as the policy terms don't stipulate that you do.
Personally I only send them out when I write a contractor that needs a certificate asap then after he gets it he drops the insurance. That really chaps my azz.

 

[Indiana_Adam]

Arnage, I would do the same. Luckily the agency partners are aware of the guys that pull that stuff around here. Screw sending, Id just call. We keep a copy of every COI we send out.