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In this video, the concept of a Certificate of Insurance (COI) was explained, highlighting its importance for companies. The most commonly used COI is the Accord 25 form, which includes essential details of insurance policies on a single page. It is crucial to understand that a COI is proof of insurance, summarizing key information such as coverage type, effective date, and policy limits. Various editions and versions of the Accord form exist, so not all forms will look the same. A COI template is provided for easy access in the video description.