Certificate Requestee FAQ
Find answers to your questions below. Email all other questions here.
Questions from Certificate Requestees
- Can I get a complete set of the insurance requirements that I am supposed to fulfill?
- Do I need to continue to send a copy of my certificates to the company that hired Periculum?
- I have sent this certificate several times; why am I still getting letters from Periculum?
- Why does the address have to be changed to Periculum's address?
- Can I email my certificate to Periculum?
- What is your fax number?
- What is your physical/street address?
- Why do we get so many letters from Periculum?
- Why do we have to change the Loss Payable to Lender's Loss Payable on Business Personal Property?
- Why do I have to provide my insurance information at all?
1. Can I get a complete set of the insurance requirements that I am supposed to fulfill?
Yes. If you have received a recent letter from Periculum, it should include an internet address that looks like this: "http://www.periculum.com/reqs.asp?prof=7022944972&cs=19". Enter that link into the address bar of your internet browser to view the insurance requirements.
2. Do I need to continue to send a copy of my certificates to the company that hired Periculum?
No. Periculum clients are able to securely access the certificates online, so you should send the certificates directly to Periculum using the exact address shown in the letter(s) you receive from Periculum. (For accurate routing, be sure to use the exact "Department Number" in the address as shown in the letters.)
3. I have sent this certificate several times; why am I still getting letters from Periculum?
To satisfy the requirements of our client, we must have a certificate that includes current (not expired) policy information. Also, if it does not meet all of our client's insurance requirements, we are obligated to request that you provide a new certificate that corrects any deficiencies. If subsequent certificates contain some of the same or brand new deficiencies, yet another letter may be issued. We try not to send any unnecessary communications, but our obligation to our client requires that we make every effort to obtain a fully satisfactory certificate of insurance. Your (and your insurance agent's) attention to detail can help to avoid future letters from us.
4. Why does the address have to be changed to Periculum's address?
It is occasionally necessary to change the address of the certificate holder to reflect the fact that Periculum has been retained to obtain and track certificates on behalf of the client. Consequently, certificates that you may have been previously providing to the same certificate holder, must now be changed to reflect the exact certificate holder name and the different mailing address as shown in the letters you receive from Periculum.
5. Can I email my certificate to Periculum?
Yes! Please attach your certificate to an email and send it to: certsonly@periculum.com
6. What is your fax number?
(517) 647-7900
7. What is your physical/street address?
212 Kent St.
Portland, MI 48875
8. Why do we get so many letters from Periculum?
Our clients trust us to obtain proof of insurance that meets their specific requirements. We issue communications whenever it is necessary to obtain a certificate or to request a correction to one or more items on a certificate that does not meet the requirements. Also, since insurance coverages typically expire yearly, even when a satisfactory certificate is provided, it is necessary to provide another equally satisfactory certificate at or just before the expiration of coverages. We fulfill our commitment to our client by issuing letters in an effort to maintain a fully satisfactory certificate of insurance on file at all times, and that sometimes requires several communications over the course of a year. Attention to detail on your (and your insurance agent's) part can reduce the need for additional communications.
9. Why do we have to change the Loss Payable to Lender's Loss Payable on Business Personal Property?
This is a requirement of the lending institution because the Lenders Loss Payable extends greater protection to the lender (compared to the basic loss payable clause) such as payment to the lender under certain circumstances where payment would not be made to the insured.
10. Why do I have to provide my insurance information at all?
It is a common practice for firms to require proof that the companies they do business with are adequately insured. In fact, almost every business contract and purchase order terms include some language that requires certain minimum insurance levels and the proof of said coverages. Periculum's services are retained by companies who wish to verify and enforce compliance with these contractual commitments of their business partners to have and provide proof of these minimum insurance levels. This common practice has evolved primarily for two reasons: (a) to avoid assuming vicarious liabilities because you may be uninsured or underinsured for certain exposures, and (b) to verify that best business practices are followed.
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