Name: RiskSure AI
Author: RiskSure AI

Question 1

What is a Certificate of Currency?

Accepted Answer

A Certificate of Currency (COC) is proof that a contractor or subcontractor holds valid insurance coverage. It shows the type of insurance, policy limits, expiry dates, and the parties covered. In Australian construction, head contractors must verify that all subcontractors have valid COCs before they can work on site.

Question 2

How does RiskSure AI verify insurance certificates?

Accepted Answer

RiskSure AI uses advanced document processing to extract and verify data from insurance certificates in seconds. Our AI reads the full policy wording to detect Principal Indemnity clauses, checks Workers Compensation registrations with state schemes, and automatically identifies coverage gaps or exclusions that manual review would miss.

Question 3

What is Principal Indemnity and why does it matter?

Accepted Answer

Principal Indemnity is a clause in insurance policies that extends coverage to protect the head contractor (Principal) from claims arising from the subcontractor's work. Without this clause, even if a subcontractor has $20M in coverage, the head contractor may not be protected if something goes wrong.

Question 4

Is RiskSure AI free for subcontractors?

Accepted Answer

Yes, RiskSure AI is completely free for subcontractors. Unlike traditional prequalification platforms that charge subcontractors $400-3000 per year per builder relationship, we believe the builder who requires the compliance should bear the cost. Your subcontractors simply receive an invitation to upload their documents through our secure portal.

Question 5

What types of insurance does RiskSure AI verify?

Accepted Answer

RiskSure AI verifies all common construction insurance types including Public Liability, Professional Indemnity, Workers Compensation, Contract Works, and Motor Vehicle insurance. We check policy limits, expiry dates, named insured entities, and specific clauses like Principal Indemnity.

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