A template can require any of eight coverage types. Each has the same settings: a minimum each-occurrence limit, a minimum aggregate limit, whether it is mandatory, and which endorsements are required. See Requirement templates.
Each occurrence and aggregate
These are two different limits:
- Each occurrence is the most the policy pays for one incident.
- Aggregate is the most it pays across the whole policy period.
A certificate can meet one and miss the other. WatchMyCover checks each against its own minimum, and skips a minimum you leave blank.
How the two fields apply to each coverage, when you record a certificate:
Workers’ compensation is statutory, and certificates often show only a tick in Per Statute. WatchMyCover has no “per statute” setting: it checks the employers’ liability figure you enter against the minimum in your template. If the template sets a workers’ comp minimum and no figure is entered, the finding is Limit not provided.
Mandatory or optional
A coverage marked Coverage is mandatory decides the verdict: if it is missing, expired, not yet in force, short or lacking a required endorsement, the subcontractor fails or needs review, and is chased.
An optional coverage (included in the template but not mandatory) is recorded and shown, but its problems are informational only. It never changes the verdict and is never chased.
A coverage the template does not include at all can still be recorded; it appears as “carried but not required by this template” and has no effect.
