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In the video, the presenter discusses the importance of a Certificate of Insurance (COI) for companies. The most commonly used COI is the 25 form, which summarizes insurance policy details on a single page. It is crucial to understand that a COI is only proof of insurance, providing essential information such as coverage type, effective date, and policy limits. Various versions of the form exist, so not all will appear the same. A COI template is provided for download in the video description to aid in understanding and organizing insurance information.