What is a Certificate of Insurance?
Proof of the required insurance is evidenced by a Certificate of Insurance on an Acord 25 form provided by the contractor’s insurance agent or broker and must be in the possession of the Nevada System of Higher Education (NSHE) before the work or activity starts. The Certificate of Insurance must be filed with the contract so that it can be found in the event of a claim. See sample Certificate of Insurance.
A Certificate of Insurance certifies the existence of a marine insurance (open) policy. Under an open policy, it is the international practice to issue a Certificate for every shipment. A Certificate could be said akin to a Specific policy. In most cases, the open policy is adequately stamped and hence, individual Certificates need not be stamped. It is important to note that a Certificate has to be issued strictly as per terms and conditions of the corresponding open policy.
