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In the video, the concept of a Certificate of Insurance (COI) is discussed, with the Accord 25 form being the most commonly used type. This form summarizes key details of insurance policies on a single standardized page, including coverage type, effective date, and policy limits. The COI is emphasized as proof of insurance, intended to provide easy access to important policy information. The video offers a COI template for download to help viewers understand the components of a complete COI.