c/i

The c/i, abbreviated to Certificate of Insurance, is a document that confirms the existence of an insurance policy and contains important details about the scope of cover, sum insured and policyholder. It is the written confirmation that an insurance policy has been taken out and covers the recipient against certain risks.

Meaning of the c/i

The c/i, also known as an insurance certificate, plays a crucial role in securing business activities and transactions. It is often issued by insurers, brokers or agents and serves as proof of insurance coverage. Companies can use c/i documents to enter into contracts, secure loans or as proof of compliance with regulatory requirements.

Areas of application of the c/i

The c/i is used in various industries and situations, including

  • Logistics and transportation: when entering into transportation contracts or moving goods across borders, a c/i is often required to prove insurance coverage for the goods being transported.
  • Construction: Construction companies are often required to provide c/i documents to prove that their construction projects are covered by liability or construction insurance.
  • Event management: Organizers of events or trade fairs may require a c/i to cover their liability insurance against potential claims.

Advantages of the c/i

The use of c/i documents offers various advantages:

  • Legal certainty: the c/i serves as legal proof of the insurance contract concluded and helps to clarify insurance claims in the event of damage.
  • Confidence-building: The presentation of a c/i strengthens trust between business partners and facilitates the conclusion of contracts or agreements.
  • Risk minimization: By providing proof of sufficient insurance cover, companies can effectively hedge their risks and minimize financial losses in the event of a claim.

GS1 Europe and insurance management

GS1 Europe provides standards and guidelines for efficient insurance management, including the identification and tracking of insurance documents such as c/i. By implementing GS1 identification systems, companies can improve the transparency and efficiency of their insurance management and ensure seamless collaboration with insurers and supply chain partners.