ACORD 31 Fillable Form – Certificate of Marine/Energy Insurance

ACORD 31 (2016/03)

Certificate of Marine/Energy Insurance

Form Number:

ACORD 31 (2016/03)

Category:

Property & Casualty

Last Updated:

March 2016

Page Count:

02 pages

File Format:

PDF, Fillable PDF

Acord 31 Template

Insurers, vessel owners, and energy companies use the Acord 31 form to prove the insurance coverage of energy operations, marine vessels, or cargo. The form helps clients, lenders, or third parties verify the insurance coverage and reduce potential risk factors in offshore energy projects. The Association of Cooperative Operations Research and Development (ACORD) develops the certificate to ensure transparency and trust-building in high-risk sectors.

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Benefits of ACORD 31 (2016/03) PDF

Ensures Regulatory Compliance

The Acord 31 certificate of marine insurance fulfills the maritime and energy industry insurance regulations to avoid consequences.

Facilitates Port Access

The port authorities quickly verify the insurance coverage to allow port access to vessels for energy operations.

Reduce Operational Risks

The form’s availability ensures adequate coverage for operational risks, including hull damage, offshore accidents, and cargo loss.

Enhanced Coverage

An Acord 31 form covers multiple operations to protect marine/energy businesses and helps the agency management system save time.

Key Sections of the Acord 31 Certificate Form

Producer Information

Keeps a comprehensive record of insurance agents or brokers to ensure transparency.

Insured Information

Includes the owner details of a marine/energy company with additional insured business partners.

Coverages

Includes insurance coverages, policy number, effective date, expiration date, and limits.

Description

Records the detailed description of the operation with specific instructions.

Certificate Holder Details

Contains the certificate holder’s information with a cancellation clause and the authorized representative’s signature to validate the certificate.

How to Fill Out the Acord Marine Insurance Certificate Online?

  1. Write the insurance agent or broker’s name, address, phone number, fax, and email address.
  2. Mention the name and address of the marine/energy company’s owner.
  3. Mention the type of insurance coverage with policy number, effective date, expiry date, and limits for the loss.
  4. Write a detailed description of the policy with specific instructions.
  5. Write the name and address of the certificate holder.
  6. Mention the cancellation clause of the policy.
  7. Get the authorized representative’s signature.
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Frequently Asked Questions

It includes the following details,

  • Certificate holder information
  • Agency information
  • Insured information
  • Coverage specifics (marine or energy)
  • Effective and Expiration dates
  • Policy number and limits

The form covers the energy operations, including pipelines and offshore platforms, and marine operations, including cargo and hull.

Yes, the transparent documentation helps verify insurance coverage and mitigates misunderstandings with third parties.

The authorized representative (Insurance agent or broker) can complete and sign the form to validate the certificate.

Accurate completion of the form is important to avoid delays, disputes, or rejection by the certificate holder.

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