With the new Certificate of Insurance and Evidence of Property Insurance, we need to look directly to the coverage form for notice of cancellation to entities other than the named insured. Due to a couple of recent requests, I've been looking through coverage forms to have our cancellation notice information set up. Under GL coverage, it does not appear that any of the ISO Additional Insured endorsements offer any type of notice of cancellation to the A.I. Thus it does not appear that we can ever offer to give any notice to a Certificate Holder under the Acord 25 for liability coverage. It's possible that a carrier's own form may be amended from ISO and has added notification language, but #1 - I doubt it and #2 I'm looking at ISO only since there are too many possibilities when looking at all carriers.
For the Evidence of Property Insurance, I believe the only way to have cancellation notice is under the following forms:
CP1218, IM1668, or BP1203 which are all Loss Payee endorsements and the Lender's Loss Payee status must be used.
BP0002, the BusinessOwners Property Special Form, under the Mortgageholders section (I presume the same holds for the Standard Form as well).
Am I missing any other ways? If not, then we can see that ability to offer notice of cancellation is pretty darn narrow. Not complaining - just getting all the facts lined up for efficient Certificate/Evidence handling. I just declined to quote a contractor because they are required to have a 30 day cancellation notice as Addt'l Insured for a company that will feed them business.
You're right - the problem had been that the various holders were assuming the certificates (which are only a snapshot of coverage as of the date created) gave them more rights than they had (other than LP, Mrtgee). Many suits resulted, and the new forms are a move to clarify things.
You probably should not take responsibility to notify - too many issues.
I 've no inclination to take on any notification E&O bombs. That's why I declined to quote the prospect who said they MUST have it.
I'm just making sure I have the proper answers lined up for the situations where the policy does provide notice (by the carrier) and don't want to miss any.
If it is a large enough premium, I have heard of some companies which will endorse the policy for notification.
Yes, they will endorse the policy for a fairly hefty premium. We have a couple of clients that have accepted that cost to get the work.