A certificate of insurance is a snapshot of an insurance program for your business summarizing the coverage dates, carrier(s), policy type(s) and limits for liability policies. They can include wording for special conditions like an additional insured or a waiver of subrogation. Collecting, reviewing, and tracking these documents is an important step in the risk management of an organization. Here's some tips for Certificate of Insurance Management Process for Sub-Contractors and Independent Contractors: Read more here!
Demystify Certificates of Insurance
February 25, 2021
Insurance terminology can be confusing for the most seasoned business owner and there are so many terms that seem to intertwine, sound similar or are often abbreviated and one can become confused about the meaning of these terms. We’re here to clear up some of your confusion.
Certificate of Insurance
A certificate of insurance is simply a snapshot of a policy, like a photograph of the main points of a policy on any given day. Ah yes! Because things can change, a policy can cancel for non-payment or other changes could have been made to a policy. A certificate of insurance starts with the policy holder; this is the entity or individual in whose name an insurance policy is held and covers for liability. The certificate will reflect the information on that policy holder’s policy.
Certificate Holder
A certificate holder is the one who may be requesting the snapshot of the policy holder’s insurance coverages. Many times this is because the policy holder is delivering a service or there may be a contract agreement requiring insurance. A certificate holder does not need to be endorsed onto a policy; the certificate is simply a reflection of the policy itself. If the holder wants to have some additional interest in the policy holder’s insurance policy then the policy must be endorsed and a certificate can also reflect that endorsement.
Additional Interest
Is additional insured the same as additional interest you ask? The answer is sort of, but not really. An additional interest is someone that has an interest in making sure that the policy holder maintains insurance coverage. This could be a landlord making sure his tenant is insured for liability or it could be a bank looking to ensure property coverage is maintained on a building for loan securement. This is a general term and you’re more likely to see an additional interest in the form of an additional insured in the case of liability or as a loss payee or mortgagee in the case of property coverage.
Additional Insured
An additional insured extends liability insurance coverage beyond the named insured to include other individuals or groups. An additional insured endorsement protects the additional insured under the named insured's policy allowing them to file a claim if sued. It covers legal claims that may arise from the work of a sub-contractor and allows a layer of protection for the one hiring out their work. Some policies include a blanket additional insured in the policy but be aware that most of these forms require that there be a written contract in place for this additional insured endorsement to apply. The additional insured form should always be attached to the certificate of insurance when it applies.
Tips for efficient processing of your certificate requests
• Always include the full legal name and address of the entity requesting the certificate
• Be aware of what the requester’s contract requirements for insurance are – look at the contract and send the insurance requirements to your agent to review
• Understand why someone is asking you for proof of insurance and if you’re not sure talk to your agent.
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When HR Is Overloaded, Your Business Feels It For many small to mid-sized businesses, HR is one of the most critical (and most overextended) functions. From payroll and benefits to onboarding and compliance reporting, administrative tasks can quickly consume your team’s time, leaving little room for strategic work that actually moves the business forward. Sound familiar? You’re not alone. A recent survey from Champions of Change: isolved’s Fourth-Annual HR Leaders’ Research Study found that 51% of HR leaders spend four or more hours a day answering repetitive questions. This time could be better spent on employee engagement, culture, and growth initiatives. When HR teams are pulled in too many directions, the consequences ripple across the entire organization, resulting in missed deadlines, frustrated staff, compliance risks, and ultimately, higher turnover. Why HR Leaders Consider Outsourcing Outsourcing HR isn’t just for businesses without dedicated HR teams. In fact, a survey of 1,000 HR decision-makers found that 76% could benefit from outsourcing certain tasks, even though only 54% currently have plans to do so. HR outsourcing allows organizations to offload both core and strategic tasks, including payroll, benefits administration, recruitment, onboarding, compliance support, performance management, employee relations, and workforce analytics, without adding headcount. This augmentation provides a multiplier effect: a small HR team can function like a much larger one, accomplishing more in less time. By leveraging experienced HR professionals through outsourcing, organizations can free up internal HR teams to focus on initiatives that directly impact business growth, such as talent development, employee engagement, and culture-building. Routine administrative tasks, when handled externally, no longer distract from these high-value priorities. The True Cost of Administrative Overload Overburdened HR teams don’t just affect your internal operations; they impact your employees’ experience. Inconsistent onboarding can create a rocky first impression for new hires. Delayed payroll or benefits questions lead to frustration and decreased trust. Compliance oversights expose your business to fines and legal risk. Even small inefficiencies add up. According to the National Association of Professional Employer Organizations (NAPEO), organizations that leverage an outsourced HR model achieve an average ROI of 27.2% per year, saving around $1,775 per employee while paying $1,395 per employee for outsourced services. That’s not just cost savings, it’s a reinvestment in your team and your business. The Power of Strategic HR Outsourcing Outsourcing doesn’t mean giving up control or handing HR off to a faceless provider. Done strategically, it’s about extending your team. Administrative tasks like payroll, benefits, onboarding, and reporting can be handled efficiently by experts, while HR teams gain confidence that compliance requirements are being met. Most importantly, it frees internal HR to pivot from reactive, day-to-day tasks toward engagement, culture-building, and retention strategies. Outsourced HR support can scale with your business, providing additional expertise during busy periods, leaves of absence, or rapid growth phases. The impact is clear. Teams feel supported, employees feel heard, and the organization operates smarter, not harder. With the right outsourcing partner, a small HR team can act like a team of 10, and a team of five can perform like a team of 25, all while maintaining compliance and efficiency. Retention Starts With the Right Employee Experience When administrative burdens are reduced, HR teams can focus on creating meaningful experiences for employees. Transparent processes around pay, benefits, and policies build trust. Faster, more organized onboarding leaves a strong first impression. Access to modern self-service HCM tools empowers employees to manage their own information, reducing repetitive questions and improving engagement. By leveraging experienced HR professionals to handle gaps in internal processes, organizations can enhance overall employee satisfaction, ensuring every interaction, from onboarding to open enrollment, feels seamless and supportive. A Smarter Approach to HR Means a Stronger Business Across industries, companies are recognizing that HR outsourcing is no longer a luxury. It’s a strategic advantage. Organizations that adopt a blended model of technology and advisory support report measurable reductions in administrative workload, cost savings compared to maintaining fully in-house HR teams, and improved engagement for employees. Strategic HR outsourcing allows internal teams to shift from transactional tasks to big-picture initiatives, creating a more resilient, efficient, and high-performing workforce. At the end of the day, HR isn’t just a function; it’s the backbone of your organization. When it’s overextended, the entire business suffers. But with the right support, HR teams can focus on meaningful initiatives, employees feel more valued, and the business benefits from measurable ROI. Strategic HR outsourcing isn’t about replacing your team, it’s about empowering it. Your people, your culture, and your bottom line all benefit. Curious how Simco's HR Advisory services can help your business? Let's talk today.
If you recently received notice that your Medicare plan, or Medicare Advantage plan, is being discontinued, you’re not alone. Across the country (and right here in New York), insurers are scaling back or exiting less profitable markets ( Kiplinger ). While this can feel stressful, there are steps you can take to make sure your coverage doesn’t lapse and to find a better plan for your health and budget. Why Are Plans Being Discontinued? A mix of financial pressure, federal reimbursement changes, and rising health costs is driving insurers to reduce their Medicare Advantage footprints: Some major insurers are cutting back or exiting entire counties. For example, UnitedHealth announced it will discontinue its Medicare Advantage presence in 109 U.S. counties in 2026, according to Reuters . Local carriers in New York are also making changes: MVP is dropping several plans, and CDPHP is eliminating certain drug-coverage options, the Times Union explains . These shifts are happening alongside tighter government funding and increased regulatory strain. Because insurers must absorb the extra cost of covering benefits while meeting regulatory caps (for example, on prescription drug out-of-pocket limits), some plans become financially unsustainable and are discontinued ( the Kaiser Family Foundation ). Steps to Take if Your Plan Is Discontinued Here’s how to act so you don’t lose coverage: 1. Review the notice you received carefully Your insurer is required to send you a non-renewal or discontinuance notice. It often includes deadlines, whether you can enroll through a Special Enrollment Period (SEP), and what options you have. 2. Note the relevant enrollment period The Annual Enrollment Period (AEP) runs October 15 to December 7, 2025 , during which you can switch Medicare Advantage or Part D plans. If your plan was discontinued, some notices allow you to select a new plan until December 31 without penalty. In limited cases, you may qualify for a Special Enrollment Period (SEP) following the discontinuation. 3. Research your options early Don’t wait until the last minute. Compare plans available in your area. Key things to look at: Provider networks: Will your doctors still be covered? Drug formularies: Does the plan cover your medications and at what cost? Premiums, deductibles, and out-of-pocket max: These can vary significantly. Benefit trade-offs: Some plans reduce supplemental benefits (vision, dental, wellness perks) when trying to maintain financial viability. 4. Enroll in the new plan Submit your enrollment by the relevant deadline (typically December 7 for the Annual Enrollment Period (AEP). However, If your plan was discontinued, you may have until December 31 to choose a new one without penalty). Make sure the new plan starts January 1 to avoid coverage gaps. 5. If your plan wasn’t discontinued, still review Even if your current plan remains active, benefits, networks, and costs often change each year. It’s wise to compare alternatives anyway, especially after insurer shake-ups. Why Timing & Support Matter Delays cost you: Failing to enroll by deadlines could mean losing drug coverage or being locked into a less ideal plan. Support can ease the burden: Licensed agents can help you compare side-by-side, explain trade-offs, and guide you through enrollment. You deserve the best match: Everyone’s health and financial needs differ. Don’t settle for the first available option unless it truly fits. How Simco Can Help At Simco, we understand the stress of sudden plan changes. Our licensed insurance advisors are ready to: Help you interpret your discontinuance notice Compare plan options available in your area Assist with enrollment paperwork Explain benefit trade-offs and cost implications You don’t have to navigate this alone. Whether your Medicare Advantage plan was discontinued or you’re simply exploring your options, our team is here to support you. Contact us today to schedule a 1-on-1 consultation, and let us help you find the plan that keeps you covered and confident in 2026 and beyond.
At Simco, we’re proud to be a trusted isolved Network Partner , which means the Human Capital Management (HCM) technology we deliver to our clients is powered by isolved People Cloud™. And now there’s even more reason to celebrate: isolved has been recognized as the #1 SMB HCM provider across the entire employee lifecycle in Sapient Insights Group’s 28th Annual HR Systems Survey. This annual survey is one of the most respected benchmarks in the HR technology industry. With feedback from over 4,500 HR professionals, Sapient Insights captures the real voice of the customer by evaluating vendors across two critical areas: User Experience (UX) and Vendor Satisfaction (VS). isolved earned an impressive 38 badges this year, the most awarded SMB vendor for the second year in a row, and ranked #1 in 13 different SMB categories . Breaking Down the Results isolved’s recognition wasn’t limited to a single function. It spanned the entire employee lifecycle, covering everything from payroll and benefits to recruiting and workforce management. Highlights from the survey include: Payroll — Ranked #1 in both User Experience and Vendor Satisfaction for SMBs Core HR — #1 in Vendor Satisfaction Benefits — #1 in User Experience Recruiting — #1 in both User Experience and Vendor Satisfaction Time & Attendance — #1 in both User Experience and Vendor Satisfaction Skills Management — #1 in User Experience Rewards & Recognition — #1 in User Experience In addition, isolved placed in the Top 5 across numerous other categories like onboarding, learning, performance management, workforce scheduling, and contingent management. What does this mean? isolved’s solution isn’t just strong in one area, it’s consistently delivering across all the areas that matter most for small and mid-sized businesses. Why This Matters for SMBs Today’s SMBs face more challenges than ever. Recruiting is competitive, employee expectations are higher, and compliance requirements grow more complex every year. Business owners often find themselves piecing together multiple vendors to handle payroll, HR, benefits, and insurance, adding complexity and risk. isolved’s sweep across the Sapient Insights report shows that SMBs no longer have to choose between great payroll software and effective talent tools, or between benefits management and workforce scheduling. With isolved, the technology already covers the full employee lifecycle, validated by real-world HR pros. From Recognition to Results isolved’s 38 badges and top rankings validate what our clients experience every day: Accuracy and trust in payroll with fewer errors and compliance risks. Simplified benefits administration that keeps employees happy and businesses competitive. Recruiting and onboarding tools that make hiring more effective. Time and scheduling solutions that align workforce needs with operational efficiency. These results aren’t just about technology; they’re about enabling SMBs to compete, thrive, and support their people better. The Simco Advantage: More Than Just Software Here’s the ultimate key: technology is only half of the solution. Technology is powerful, but the real impact comes from how it’s put into practice. At Simco, we go beyond simply providing software. We deliver a fully integrated HCM and advisory solution that ties every part of workforce management together. Here’s what sets us apart: One Point of Contact: A dedicated resource who understands your business and ensures your HCM, HR, benefits, insurance, and retirement services work in sync. All-in-One Partner: From payroll and HR to insurance and 401(k) plans, we eliminate the hassle of juggling multiple vendors. Advisory + Optimization: We don’t just implement technology. We guide you in using it to strengthen compliance, employee engagement, and growth strategies. As your business grows, your needs change. By pairing isolved’s award-winning technology with Simco’s hands-on expertise, we help you stay ahead, operate more efficiently, and build better employee experiences. Key Takeaways isolved’s recognition in the Sapient Insights report shows that SMBs have access to enterprise-grade HR technology tailored for their needs. And with Simco as your partner, you’ll never have to choose between the strength of your platform and the quality of your service; you’ll have both. Want to see how Simco + isolved can streamline your payroll, HR, benefits, and more? Contact us today.
