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In the video, the concept of a Certificate of Insurance (COI) was discussed, emphasizing its importance for companies. The most commonly used form is the Accord 25, which includes essential insurance policy details on a single page. It is important to understand that a COI serves as proof of insurance, summarizing key information such as coverage type, effective date, and policy limits. Different versions of the Accord form exist, so they may vary in appearance. A COI template is provided for download in the video description to help viewers understand and create their own COIs.