Certificate of Insurance
Tracking

Tracking and verifying subcontractor certificates of insurance is a laborious task, often laden with manual processes, consuming precious time and resources. The intricate nature of insurance further compounds the challenge, where even minor errors can expose construction firms to heightened business risks and substantial financial setbacks. Denver Compliance Solutions offers a solution by streamlining these arduous tasks, whether it's managing COIs collectively or on a per-project basis, providing relief for overwhelmed and understaffed office teams. Finally, we will collaborate with your insurance brokers to thoroughly understand all policy requirements, ensuring meticulous review of every COI and minimizing risk.

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Many businesses lack the expertise and confidence necessary to effectively track certificates of insurance, which are crucial for proving coverage, mitigating risks, fostering trust among stakeholders, and ensuring regulatory compliance. Contractors and subcontractors must prioritize obtaining valid COIs before commencing any construction endeavor to shield themselves from potential liabilities and bolster the project's success.

 

While automated COI tracking software may seem like a convenient solution, our experience reveals a critical gap in their effectiveness for the construction and development industries. Despite their sophistication, many of these platforms lack the specialized software and programming tailored to meet the stringent insurance standards of our field. Consequently, businesses often find themselves still reliant on manual oversight, resulting in high per-vendor monthly fees without alleviating the need for dedicated personnel to manage the software and procure additional documentation. Regrettably, these software solutions have yet to fully align with the unique insurance requirements inherent in the construction and development sectors, underscoring the indispensable value of our tailored services at Denver Compliance Solutions.