An existing NYC Business Group client was renewing a contract with a customer it had served for years when the customer introduced new insurance requirements. Updated wording was required on both the additional insured endorsement and Certificate of Insurance, and satisfying those requirements was necessary for the business relationship to continue. NYC Business Group worked with the insurance carrier to obtain the required endorsement wording and then helped the client submit the updated documentation through the customer's COI portal.
The Challenge
An NYC Business Group client had been providing services to the same customer for years. When it came time to renew their contract, however, the customer introduced updated insurance requirements.
The customer required specific new wording within the client's additional insured endorsement as well as updated information on the Certificate of Insurance.
This wasn't simply a routine request for another copy of a certificate. The updated insurance documentation was a requirement for renewing the contract, making it important that the client address the changes correctly.
For our client, an insurance-documentation issue now stood between the business and the continuation of a long-standing customer relationship
How We Helped
We reviewed the customer's updated insurance requirements and contacted our client's insurance carrier to address the requested changes.
Working with the carrier, we were able to obtain the updated wording needed for the additional insured endorsement and the corresponding Certificate of Insurance.
But obtaining the documents was only part of the process.
The customer's insurance documentation had to be submitted through its COI portal, so we also helped our insured upload the required endorsement and new Certificate of Insurance to the customer's system.
This helped ensure that the customer received the updated documentation it was requesting as part of the contract renewal.
The Result
The client was able to provide the updated additional insured endorsement and Certificate of Insurance required by its customer.
Instead of leaving the business owner to coordinate between the customer, insurance carrier, and COI portal alone, NYC Business Group helped move the request through the process and get the necessary documentation submitted.
That allowed our client to satisfy the customer's updated insurance requirements as part of renewing a relationship that had already lasted for years.
“An insurance-documentation issue stood between the business and the continuation of a long-standing customer relationship.”
Insurance support goes beyond the policy
Certificates of Insurance are often treated as routine paperwork, but for many businesses they can have a direct impact on the ability to start a job, satisfy a contract, maintain a lease, or continue working with an important customer.
And sometimes providing a standard certificate isn't enough.
A customer or other contracting party may require particular coverage, additional insured status, endorsements, or specific documentation before accepting a Certificate of Insurance.
When those requirements change, NYC Business Group can help clients understand what's being requested, communicate with the insurance carrier, obtain the appropriate documentation, and work through the submission process.
For a busy business owner, getting a COI right isn't just an administrative task. Sometimes it's part of keeping the work moving.