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In the video tutorial, the concept of a Certificate of Insurance (COI) was explained, emphasizing its importance for companies. The most commonly used COI form is the 25 form, which summarizes key details of insurance policies on a single page. It is important to understand that a COI is proof of insurance, intended to provide quick access to essential policy information such as coverage type, effective date, and policy limits. Different forms may vary in appearance, but a COI template is provided for download to aid in understanding.