Certificate of insurance
Evidence that a named shipment is covered under a policy.
Definition
A document issued under an open cover or a single-transit policy that evidences cover for a specific consignment: the insured, the route, the goods, the sum insured, the conditions and the deductible. Under a letter of credit it is the insurance document the bank examines, and UCP 600 Article 28 sets out what it must show — the amount, the currency of the credit, and cover at least from the place of taking in charge to the place of discharge or final destination named in the credit.
Why it decides money
A certificate is evidence of cover under a policy, not the policy. The wording it incorporates is what governs a claim.
Related terms
- Assignment and blank endorsement
- How the right to claim travels with the goods.
- UCP 600
- The letter-of-credit rules, including what an insurance document must show.
- Policy wording
- The document that actually decides the claim.
More in carriage and documents
InsuranceScanner is an insurance intermediary, not an insurer — see the Terms for our role. Nothing here is a personal recommendation that a particular cover, sum insured or deductible is suitable for you. Where anything on this page conflicts with the certificate, policy schedule or wording issued by an insurer, that document governs.