Who Can Sign an ACORD 25 Certificate? Rules & Requirements
Acord 25, officially titled the Certificate of Liability Insurance (COI), is commonly used in the insurance industry, construction, transportation, health, and real estate. It proves that the policyholder has adequate insurance coverage for contractual agreements. Everyone is not authorized to sign an Acord25 certificate to validate the process. Understanding who can sign an Acord 25 Certificate is critical for legal compliance for businesses, policyholders, and insurance agents to fulfill the requirements.
Who is Authorized to Sign an Acord 25 Certificate?
Licensed Insurance Agents and Brokers
The insurance company appoints licensed agents and brokers which are authorized to issue and sign an Acord 25 certificate. They are responsible to ensure that information given on the acord form aligns with the policyholder’s active coverage. If there are any misleading or unauthorized changes, it may lead to legal complications.
Authorized Representatives of Insurance Companies
The authorized representatives of insurance companies, such as underwriters, risk managers, or designated individual can also sign the Acord 25 certificate. These authorized individuals can verify the details and issue the certificate after signatures.
Third-Party Certificate Issuing Services (When Permitted)
Some insurance companies handles the administrative process through third-party issuing services for generating Acord 25 form. However, after completion of the certificate, the final signatures comes from the authorized representative who holds the state license number.
Who Can Not Sign an Acord 25 Certificate?
Policyholders
A policyholder can not sign the Acord 25 form of his own unless they are a licensed agents or brokers of an insurance company. Therefore, despite of an individual or business entity, only qualified individuals can certify insurance coverage.
Employers, Contractors, or Clients
All those who requires a certificate of insurance (COI) can not sign the Acord certificate on behalf of insurance company. Only Authorized agents or brokers are eligible to verify the details and sign the form.
Unauthorized Office Staff or Employees
The employees or office staff of an insurance company who are not authorized, can not sign the certificate of liability insurance form. After getting the license from the insurance company, they can qualify to meet the legal compliance and sign the form.