Vendor requirement terms

Additional Insured

A party added to your policy who is covered for claims arising out of your operations—not their own independent acts.

Also: AI Endorsement · Additional Named Insured (different)

As Required by Written Contract

A policy or endorsement clause that activates coverage obligations only when required by a signed contract.

Also: Per Contract · Per Written Contract · Blanket Additional Insured

Certificate Holder

The party named on a COI as the recipient of proof of insurance.

Certificate of Insurance (COI)

A document that summarizes active coverage and limits. It does not change policy terms.

Also: Cert of Insurance · Insurance Certificate · Acord 25 · Certificate of Liability Insurance

Endorsement vs COI

A COI proves coverage exists; an endorsement actually changes your policy.

Licensed & Insured

A shorthand phrase indicating a business holds the required government licenses and active insurance coverage to operate legally and protect clients.

Also: bonded and insured · licensed bonded and insured · what does bonded and insured mean

Loss Payee

A third party named on a property insurance policy who receives claim payments directly when insured property is damaged or destroyed.

Also: loss payee meaning · what is a loss payee

Notice of Cancellation

A contract requirement for advance notice if a policy is cancelled.

Primary & Noncontributory

A clause requiring your policy to pay first, without seeking contribution from the other party's insurance.

Also: P&NC · Primary Non-Contributory

Waiver of Subrogation

An endorsement where your insurer gives up the right to recover claim costs from a third party.

Also: Subrogation Waiver · WOS