Being out of compliance with Certificate of Insurance requirements

[InsureCLE.com]

In the past decade, a new boondoggle has cropped up. New insurance industry 'middlemen' have wedged their foot between insureds and their clients. These middlemen seem to have setup the perfect scheme to steer insureds away from agencies, and service providers away from clients, who do not have resources to spend many hours every year repeatedly submitting the same information.

If you or your staff has had trouble with getting COI's approved, or communicating with these new Certificate of Insurance verification 'middlemen', please contact me privately. A few different regulators are interested, too. It appears mentioning specific names publicly is prohibited here on these forums.

 

[WinoBlues]

?

 

[goillini52]

It appears mentioning specific names publicly is prohibited here on these forums.

Since when?

 

[InsureCLE.com]

Couldn't tell you since when, I've been an agent since mid-2000's but I'm 'new' here.. LOL... but I posted something this morning about it, with the domain name of offender, and it mysteriously was deleted. So was the post I put up last year -deleted this morning- the post that I had a lot of response from! Maybe they're a sponsor - you know how things work, right? Been told it's 'top secret' is another forum. A little silly, really. The new world we live in, right?

No worries... am posting also in other places about it. Just know your data here is censored, no question about it. I'm just looking for other agents experiences with this sort of thing: Not being able to communicate with these 3rd party certificate compliance companies, and insureds getting frustrated. I won't put any more links up, but I put the post that was deleted here on our company blog/website.

 

[goillini52]

Couldn't tell you since when, I've been an agent since mid-2000's but I'm 'new' here.. LOL... but I posted something this morning about it, with the domain name of offender, and it mysteriously was deleted. So was the post I put up last year -deleted this morning- the post that I had a lot of response from! Maybe they're a sponsor - you know how things work, right? Been told it's 'top secret' is another forum. A little silly, really. The new world we live in, right?

No worries... am posting also in other places about it. Just know your data here is censored, no question about it. I'm just looking for other agents experiences with this sort of thing: Not being able to communicate with these 3rd party certificate compliance companies, and insureds getting frustrated. I won't put any more links up, but I put the post that was deleted here on our company blog/website.

I've seen it a few times. I'd ask the Mod.

https://insurance-forums.com/community/members/stibroker.10/

 

[InsureCLE.com]

Really the company name of the offender isn't so important as what is happening... to many agents and insureds. Just trying to gauge if it's just our agency, or if this is widespread, as several of our clients have experienced. There have also been a few regulatory cases regarding the issue.

 

[InsCommentary]

I've been writing and speaking about online certificate compliance systems for probably 15 years. One of the more onerous ones charged agents $3 to enter a COI and 25 cents every time someone looked at it. The agent insured 3 vendors at an airport and the airport risk management department checked the status of the COI daily all year. That cost the agent $282.75, not counting other downsides to using this system instead of the agency management system. I've seen systems that allow insureds and even certificate requestors to actually modify the certificates.

 

[AZDave]

Personally I believe these third party compliance companies have gotten better. I remember compliance depot headaches, especially for CA owned properties, requiring scheduled AI"s for oodles of entities for one serviced property! PIA for sure.

I do refuse to submit to any portal - if they don't have an email or fax, that's not my problem, its the insured's.

OK, i said it, Compliance Depot.....we will see if i get deleted! And oodles = a lot!

 

[InsureCLE.com]

So... we've provided the same thing again, COI with AI endorsement attached, four additional times, since my last post on 1/7/2020. The same thing they've accepted for a different vendor. The same thing they keep asking for: AI endorsement. They keep sending us back an 'evaluation letter' that says we didn't include it. I guess we just need to resolve to provide their certificates once a week, to both their email and fax #, I think we can automate that...

 

[InsureCLE.com]

It's now 2/18/2020. Our insured (with dozens of other Certificate Holders and AI's) is still not in compliance with Compliance Depot, despite policy renewing in mid-December 2019. I just counted 51 emails back and fourth... and counting... about this same issue. Sent in fax's, emails. They simply don't reply to questions, they just resend the same non-compliance emails. Wow.