Read an enterprise insurance exhibit in five steps
Break the insurance exhibit into individual requirements, then match each one to a policy provision or endorsement. Keep the liability cap, indemnities and service-level promises alongside it: satisfying the exhibit does not make every contractual obligation insured.
- One requirement per row
- Policies before certificates
- Track unresolved differences
Work through the exhibit in order
- 1
Identify the legal entities and work covered by the contract.
- 2
Separate each coverage line: E&O, cyber, GL, auto and workers’ compensation.
- 3
Record limits, aggregates, retention restrictions and any excess structure allowed.
- 4
List required endorsements and evidence, using the customer’s exact wording.
- 5
Record the coverage start date and any continuing-insurance obligation after the work ends.
Use a requirement-to-evidence worksheet
| Requirement | Evidence to find | A common mismatch |
|---|---|---|
| Professional liability | E&O declarations and insured-services definition | A software policy omits implementation services. |
| Additional insured | Applicable policy provision or endorsement | A certificate names a party without supporting policy status. |
| Higher liability limit | Primary and excess schedules | GL umbrella is offered for an E&O requirement. |
| Waiver of subrogation | Relevant endorsement | A waiver is assumed to apply across all coverage lines. |
| Required policy dates | Declarations and continuity terms | A certificate date is mistaken for the effective date. |
Know what a certificate can and cannot do
A certificate communicates evidence of insurance. It does not amend the policy, remove an exclusion or create an endorsement. Keep the original policy evidence with the certificate when the customer asks about scope.
The New York DFS source below explains this distinction in a New York opinion. Requirements and certificate rules can vary by jurisdiction; the practical comparison remains the policy versus the requested wording.
Separate an insurance requirement from an indemnity
Hypothetical example · illustrates a distinction, not a coverage decision
Hypothetical example: an MSA asks for Tech E&O and also requires repayment of fees if an implementation is late. An E&O policy may address a covered customer claim while excluding refunds or delay allegations.
Record the insurance requirement and the repayment promise as separate rows. Meeting the stated limit does not establish that the repayment is insured.
Before sending evidence
Use this list as you prepare. Checks stay on this page and are not submitted.
Common questions
Can procurement accept a different arrangement?
That is a contract decision for the parties. Document the agreed wording; do not represent a difference as compliant without resolving it.
Does an additional-insured request apply to every line?
No automatic assumption is safe. Availability and effect depend on the coverage line, form and requested wording.
Sources and further reading
Policy terms vary. These primary references explain the distinctions above; carrier examples describe their own products.
- New York DFS: Certificates and policy terms ↗New York opinion explaining why a certificate cannot amend a policy.
- Travelers: Technology E&O risks ↗Insured services, contract claims, delays and IP wording vary. Product examples are carrier-specific.
Put the details to work.
Use the related explanations, or start a quote with your business information and requirements.
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