Risk Toolbox Launches Free COI-Related Compliance Resource for the Insurance Industry

The Docutrax Resource Center, addresses the difficulties associated with CIO related to emerging state law, regulation and court rulings.

(Architectural details of the Boca Raton Resort & Club, site of ACORD 2016. Photo by author.)

Risk Toolbox (Parsippany, N.J.) announced at ACORD 2016 in Boca Raton, Fla., that it has published more than 200 pages of certificate-of-insurance (COI) related information on its website in order to provide a compliance resource for carriers, agents and brokers. The new resource, The Docutrax Resource Center, addresses the difficulties associated with CIO related to emerging state law, regulation and court rulings, which can lead to potential errors-and-omissions exposure.

“We work daily with any number of situations where questions arise regarding some element of the COI, its language or the underlying contract,” comments Martin D. Mick, CEO, Risk Toolbox. “In our own research we realized that there is no organized collection of CIO data for our industry to reference. So we built it.”

The Docutrax Resource Center is free to the public and requires no registration. Currently the online library is composed of five sections:

  • State-by-state law and regulations on COIs and workers’ compensation,
  • Insurance law and recent court rulings,
  • Detailed guidance for agents and brokers,
  • Vendor/contractor issues, and
  • Basic information about COIs.

The site also includes a blog which is open to guest contributions on any COI-related topic of interest. “We want to make this a community effort,” Mick says. “We invite everyone to make suggestions or contribute to the project. There is no pride of authorship here; we simply want to create the best set of data we can for the industry.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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