As a landlord, ensuring tenants, vendors, and contractors maintain proper insurance coverage is critical-but keeping up with expiring COIs, policy changes, and compliance issues can be overwhelming. That's where our COI tracking services come in. We take care of tracking, reviewing, and following up on COIs, so you stay protected without lifting a finger.
Why is COI tracking Essential?
- Prevent Coverage Gaps: Avoid financial and legal risks caused by expired or non-compliant COIs.
- Ensure Lease Compliance: We verify COIs against lease insurance requirements, ensuring tenants meet their obligations.
- Automated Tracking & Alerts: Never miss an expiration date with proactive tracking and renewal reminders.
- Expert Policy Interpretation: We understand both insurance policies and lease clauses, catching details others might overlook.
- Seamless Integration: COI records are updated directly into your lease administration system for easy access.
How Our COI Tracking Service Works?
- Initial COI Review: We analyze all Certificates of Insurance to ensure they meet lease requirements.
- Ongoing COI Tracking: We monitor expiration dates and send automatic renewal reminders to tenants and vendors.
- Non-Compliance Alerts: If a COI is missing or incorrect, we notify you immediately to mitigate risk.
- Data Entry in Lease Management Platforms: We maintain accurate COI records within your existing system.
- Comprehensive Reporting: Get real-time insights into compliance status across your properties.
What Sets Us Apart?
- Deep Lease Administration Expertise: With nearly two decades of experience, we understand the nuances of COIs that general insurance tracking services might miss.
- Proactive vs. Reactive Approach: Instead of just storing COIs, we actively track and ensure compliance.
- Scalability for Any Portfolio: Whether you manage a single property or a national portfolio, our system adapts to your needs.
- Risk Mitigation Made Simple: You focus on managing properties, we'll ensure your COIs are always in check.
Protect Your Assets with Proactive COI Tracking
Don't wait for compliance issues to surface. Our COI tracking services provide the protection and peace of mind you need-without the administrative burden.
Get in touch today!Frequently Asked Questions (FAQs)
About COI Tracking
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1. What is COI tracking, and why do landlords need it?
COI tracking is the process of tracking and verifying Certificates of Insurance to ensure tenants, vendors, and contractors maintain proper coverage. Landlords need it to reduce liability risks, prevent coverage gaps, and stay compliant with lease agreements.
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2. How is COI tracking different from COI management?
COI tracking focuses on tracking, renewing, and ensuring ongoing compliance with insurance requirements, while COI management includes broader tasks like COI collection, verification, and policy interpretation.
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3. What happens if a tenant's COI expires or is non-compliant?
If a COI is expired or doesn't meet lease requirements, we immediately notify you and follow up with the tenant or vendor to obtain a valid, updated COI.
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4. Can you track COI expiration dates and send alerts?
Yes! Our system monitors expiration dates and sends automated renewal reminders to tenants and vendors, ensuring there are no lapses in coverage.
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5. Do you update COI records in our lease administration system?
Absolutely. We enter and maintain COI details directly within your lease administration platform, so all records stay organized and audit-ready.
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6. What types of properties do you support?
We work with commercial, retail, industrial, and multi-family properties, offering scalable COI tracking solutions tailored to your portfolio size.
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7. How do you ensure COIs comply with lease requirements?
We don't just check the COI-we analyze insurance policies and lease clauses to identify any missing or incorrect coverage that could create compliance risks.
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8. What if a tenant has a different type of coverage than stated in the lease?
Some policies offer alternative coverage that still meets lease requirements. For example, if a lease requires $1M in fire insurance, but the tenant has $10M in umbrella coverage, fire may still be covered. We catch these nuances to ensure compliance.
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9. Is your COI tracking service automated or managed by experts?
It's a hybrid approach-we use technology to track and notify, but all COIs are reviewed by experienced lease administration professionals who understand insurance nuances.
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10. How can I get started with your COI tracking services?
It's simple! Contact us today, and we'll assess your COI tracking needs, set up a streamlined process, and ensure your properties stay protected with seamless, proactive COI tracking.
