A certificate of insurance (COI) is issued by an insurance company or broker. The COI verifies the existence of an insurance policy and summarizes the key aspects and conditions of the policy. This is a requirement for all general merchandise vendors; trade and expense vendors are exempt.
Importance
Indigo requires vendors to have and maintain comprehensive general liability insurance coverage, at vendors cost, that meet the following requirements:
- Coverage amount listed as “per occurrence” (coverage amount must meet our minimum requirements outlined in the Vendor Manual, starting on page 103)
- Indigo Books & Music Inc. added as an Additional Insured;
- Indigo Books & Music Inc. added as Certificate Holder;
- Description of the business/operations (detailing, specifically, what you are selling us);
- Severability of Interests Clause
- Waiver of Subrogation Clause
- Insurance shall be Primary and Non-Contributory
- 30 days’ notice of cancellation.
With our company name and mailing address listed as:
Indigo Books & Music Inc.
620 King Street W. Suite 400
Toronto ON
M5V 1M6
COI Limits
Indigo requires vendors to maintain the required liability insurance coverage by product category. The coverage requirements are categorized by $1M, $2M, $5M and $10M insurance limit amounts.
Example of a Canadian COI
A common COI format is the ACORD certificate of liability insurance (also known as an ACORD 25 form); one that meets Indigo's insurance requirements can look like the following:
You can also download an example of a COI from the UK and one from China below: