Technology

illumend CEO: Annual Insurance Renewals Can Create a False Sense of Security

Published

3 hours ago

July 29, 2026

Kristen Nunery says businesses need continuous third-party insurance verification to catch cancellations, lapses, and coverage gaps before the next renewal date

INDIANAPOLIS, July 29, 2026 /PRNewswire/ — Most businesses treat the expiration date on a Certificate of Insurance (COI) as evidence that coverage will remain in place until that date. That assumption can leave them exposed.

“A COI is a photograph of a policy on the day it was printed,” said Kristen Nunery, CEO of illumend, from myCOI, the AI-native platform redefining how businesses manage third-party insurance compliance and risk. “Many compliance programs treat it as a guarantee that remains valid through the listed expiration date. It was never designed to provide that guarantee.”

Traditional COI compliance programs are built around renewal dates. Teams track upcoming expirations, request updated certificates, review coverage, and follow up when documentation is missing or deficient. Those activities establish a third party’s apparent compliance when the certificate was issued, while ongoing verification is needed to confirm that the underlying policy remains active throughout the term.

A contractor, vendor, tenant, or other third party can lose coverage before the expiration date printed on the certificate. The COI on file does not automatically update, and the organization relying on it may receive no notice. The lapse may remain undetected until the next renewal cycle or until a claim occurs.

In her article, “Nobody Has to Tell You When a Third-Party Partner’s Insurance Coverage Disappears,” Nunery argues that the problem is not simply poor administration. The deeper weakness is an outdated assumption: that coverage remains active until the scheduled renewal date unless someone reports otherwise.

In many cases, no one is obligated to provide that report.

Renewal Dates Do Not Answer the Most Important Compliance Question

Nunery urges businesses to use compliance programs to track upcoming expirations and verify whether every active third party currently carries the insurance required by its contract or lease.

“The essential compliance question is not simply, ‘What expires in thirty days?'” Nunery said. “It is, ‘As of right now, is every active third-party relationship backed by insurance coverage that meets its contractual requirements, and how would I know if that changed?'”

A renewal calendar cannot identify a mid-term cancellation unless the business receives separate notice. A standard COI does not automatically reflect changes to the underlying policy, and certificate holders do not necessarily have the right to receive cancellation or non-renewal notifications.

That means a business can collect all certificates on time, complete all scheduled reviews, and still allow an uninsured or underinsured third party to perform work.

More Alerts Do Not Equal Better Risk Control

Renewal volume adds another layer of difficulty. A portfolio of 1,000 third-party partners can generate approximately 70 policy expirations each week. Each relationship may also involve several required types of coverage.

Every deficiency can trigger another round of outreach, document collection, review, correction, and escalation.

“An alert delivered fifteen times a day to someone is not a control,” Nunery said. “It is noise with a timestamp.”

Automating more reminders may speed up a process, but it does not prove that coverage remains active or that deficiencies have been resolved. It can simply transfer more responsibility to employees who must determine which alerts matter, investigate each issue, and decide what action to take.

“If the honest answer is that you would find out at the next renewal cycle, or at a claim, then your compliance program is not measuring coverage,” Nunery said. “It is measuring paperwork.”

Continuous Verification Extends Compliance Beyond the Renewal Cycle

Nunery recommends retaining renewal workflows as one part of a broader, continuous approach to third-party insurance verification.

That approach begins with creating a reliable notice mechanism. Businesses should require cancellation and non-renewal endorsements that establish a policy-based obligation to provide notice, then confirm that the required endorsements were actually issued.

Verification frequency should also reflect the level of risk. A contractor performing hazardous work on-site may require more frequent review than a lower-risk vendor because the consequences of a lapse are more serious.

Organizations also need a complete, auditable record of contractual insurance requirements, submitted documents, coverage reviews, compliance decisions, deficiencies, communications, and corrections.

The approach gives businesses a clearer, more current understanding of whether required coverage is in place without adding unnecessary activity.

How illumend Helps Businesses Manage Third-Party Insurance Risk

illumend, from myCOI, is an AI-powered third-party insurance compliance and risk management platform built on 16 years of experience in Certificate of Insurance compliance.

The platform helps risk, compliance, and operations teams automate renewal outreach, collect insurance documents, compare coverage with contract and lease requirements, verify endorsements, identify deficiencies, and maintain a centralized compliance record.

Lumie, illumend’s AI compliance guide, evaluates insurance documents and endorsements against each organization’s specific contractual requirements. The system helps teams identify coverage gaps that manual reviews or renewal-based processes may miss and explains those issues in language employees can act on.

To read the full article, visit https://www.linkedin.com/pulse/nobody-has-tell-you-when-third-party-partners-insurance-nunery-mx9ye/.

Frequently Asked Questions

Which third parties should businesses review first when strengthening insurance compliance?
Start with the relationships that could create the greatest financial, legal, safety, or operational exposure if coverage were to disappear. Those often include on-site contractors, drivers, equipment operators, construction firms, healthcare providers, and vendors handling hazardous materials or sensitive customer data. From illumend’s perspective, the priority should be the relationships where a coverage lapse would be hardest for the business to absorb.

Who should own third-party insurance compliance inside an organization?
One person or team should have clear responsibility for the process, even when procurement, operations, legal, and risk are all involved. Without ownership, deficiencies can remain unresolved because each department assumes someone else is handling them. illumend recommends assigning responsibility, establishing escalation deadlines, and giving all relevant teams access to the same compliance record.

How should businesses manage different insurance requirements across contracts, locations, and third-party types?
A single insurance checklist should not be applied to every third party. A delivery vendor, roofing contractor, commercial tenant, and software provider create different risks and require different coverage. Each relationship should be evaluated against the limits, endorsements, and policy requirements in its specific contract or lease. illumend helps organizations apply those requirements consistently without reducing every relationship to the same generic standard.

When should a business stop a third party from starting or continuing work because of an insurance deficiency?
High-risk work should not begin or continue when required coverage is missing, expired, materially below contractual limits, or supported by an invalid endorsement. illumend recommends that businesses should establish those decision rules in advance so employees can respond consistently when a deficiency occurs.

About illumend
Founded in 2025, illumend™ is the AI-powered platform redefining how businesses manage third-party insurance compliance and risk. Backed by myCOI, the leader in third-party insurance compliance management with more than 16 years of expertise, illumend reimagines compliance by guiding every step of the process—from document review and expiration tracking to risk flagging, communication, and resolution—within one intuitive system. Built on myCOI’s institutional foundation—having processed more than 45 million documents, managed over 1.2 million agreements, cleared more than 750,000 third-party partners, and identified more than two million coverage gaps before claims—illumend brings this depth of compliance intelligence into an AI-native platform. At its core is Lumie, illumend’s conversational AI guide that reads complex insurance documents, flags issues in real time, and explains them in language anyone can act on. To learn more, visit https://www.illumend.ai.

Media contact:
Michael Tebo
Gabriel Marketing Group (for illumend)
Phone: 571-835-8775
Email: michaelt@gabrielmarketing.com

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SOURCE illumend

Technology

Cogent Communications CEO to Present at Three Upcoming Conferences

Published

4 minutes ago

July 29, 2026

WASHINGTON, July 29, 2026 /PRNewswire/ — Cogent Communications Holdings, Inc.(“Cogent”) (NASDAQ: CCOI), one of the largest Internet service providers in the world, today announced that Dave Schaeffer, Cogent’s Chief Executive Officer, will present at the following conferences:

The KeyBanc Technology Leadership Forum is being held at The Montage in Deer Valley, UT. Dave Schaeffer will be presenting on Monday, August 10th at 11:30 a.m. MT.

The TD Cowen 12th Annual Communications Infrastructure Summit is being held at the St. Julien Hotel & Spa in Boulder, CO. Dave Schaeffer will be presenting on Tuesday, August 11th at 3:45 p.m. MT.

The Oppenheimer 29th Annual Technology, Internet & Communications Conference is being held virtually. Dave Schaeffer will be presenting on Wednesday, August 12th at 11:35 a.m. ET.

Investors and other interested parties may access live audio webcasts of the conference presentations by going to the “Events” section of Cogent’s website at www.cogentco.com/events. Replays of the webcasts will be available for 90 days following the presentations.

About Cogent

Cogent Communications (NASDAQ: CCOI) is a multinational, Tier 1 facilities-based ISP. Cogent specializes in providing businesses with high-speed Internet access, Ethernet transport, and colocation services. Cogent’s facilities-based, all-optical IP network backbone provides services in 306 markets globally.

Cogent is headquartered at 2450 N Street, NW, Washington, D.C. 20037. For more information, visit www.cogentco.com. Cogent can be reached in the United States at (202) 295-4200 or via email at info@cogentco.com.

Information in this release may involve expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Cogent Communications Holdings, Inc. as of the date of the release, and we assume no obligation to update any such forward-looking statement. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Some of the factors and risks associated with our business are discussed in Cogent’s registration statements filed with the Securities and Exchange Commission and in its other reports filed from time to time with the SEC.

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SOURCE Cogent Communications Holdings, Inc.

Technology

75% of Small Business Owners Tapped Personal Credit for Business Expenses, Bluevine Study Finds

Published

4 minutes ago

July 29, 2026

New national survey reveals lack of loan preparation puts personal financial health at risk, contributing to delays or denials for 1 in 4 applicants.

JERSEY CITY, N.J., July 29, 2026 /PRNewswire/ — A new national survey published today by Bluevine—the largest digital banking platform for small businesses in the U.S.*—reveals that small business financing challenges are often driven by a gap in preparation and financial literacy rather than a lack of available capital. According to the study of more than 800 U.S. small business owners, 25% of their recent business financing applications were delayed or denied due to avoidable application mistakes, driving many founders to compromise their personal financial health.

The findings highlight a critical disconnect: While roughly two-thirds (65%) of SMB owners applied for a business line of credit or term loan in the past 12 months, the vast majority skipped fundamental preparation steps. A striking 73% of respondents admitted they did not research lender approval requirements beforehand, 72% failed to update their financial statements, and 56% did not check their business credit score before hitting submit.

These preparation gaps frequently force owners to rely on personal financing to keep operations afloat, with 75% of small business owners self-reporting that they used personal credit cards or personal loans for business expenses over the last year. This marks a massive jump from Bluevine’s 2025 data, where 49% of owners reported using a personal card to cover business expenses.

“Using personal credit cards for business expenses can create risk beyond utilization,” said Aditya Narula, Senior VP & GM of Lending & Credit at Bluevine. “It can blur personal and business finances, limit the owner’s ability to build business credit, and make tax or cash-flow tracking harder. Over time, it may constrain personal borrowing capacity for a mortgage, car loan, or emergency needs. A stronger application starts before the application itself.”

Additional Key Findings

The Early-Stage Vulnerability: Business owners whose companies are five years old or younger struggle the most with the process. Over half (54%) experienced issues with their most recent application, compared to just 24% of established businesses (six years or older). Furthermore, 44% of newer owners rely on personal credit cards, and 20% utilize personal loans for business needs.The Personal Toll of Mixed Finances: Relying on personal credit is actively harming small business owners’ private lives. Of the 41% of owners who currently use personal credit cards for business expenses, more than 4 in 5 (42%) say it has negatively affected their personal finances, including increasing personal credit utilization (23%), creating household stress or conflict (16%), and lowering personal credit scores (12%).Application Surprises: Among the 37% of SMB owners who ran into roadblocks during their most recent application, 12% were caught off guard by how long processing took, 11% discovered their credit score was lower than expected, and 8% applied without understanding lender requirements.Financing Alleviates Stress: Access to proper business financing remains vital to operational health. Sixty-eight percent (68%) of small business owners state that having a dedicated business line of credit or term loan significantly reduces their stress about covering upcoming expenses or emergencies.

“A prepared application can materially speed up the process because it reduces back-and-forth,” Narula added. “Current P&Ls, recent bank statements, accurate business information, and a clean credit profile help lenders verify your business faster. The biggest unlock is consistency: when documents, revenue, ownership, and credit history tell the same story, decisions move faster.”

For a deeper dive into real-world credit behavior and advice on navigating the application process, read the full findings here.

Methodology

The survey was conducted online by Centiment for Bluevine between May 12, 2026, and May 13, 2026. The results are based on 864 completed surveys from U.S. adults aged 18 and older who were verified as small business owners. The data is unweighted, and the margin of error is approximately ±3% for the overall sample with a 97% confidence level.

* As compared to publicly available data on the number of lifetime customer accounts held by other U.S. banking platforms dedicated to small businesses that offer both checking and lending services, as of June 2026.

About Bluevine

Bluevine is the largest small business banking platform in the U.S., serving as the financial operating system for startups and small businesses. Through a single account, companies can earn more, save more, borrow, and manage their money whenever and wherever they do business – without ever stepping into a branch. Accessible through one dashboard, its product suite integrates high-yield business checking, accounts payable, debit and credit cards, loans, and lines of credit. Since 2013, Bluevine has served over 1 million customers, delivered over $17 billion in loans, and is currently trusted with over $2 billion in managed customer deposits. Bluevine has been named as the Best Online BusinessChecking Account by Nerdwallet for 2026 and recognized as one of CNBC’s World’s Top Fintech Companies in 2026.

Bluevine is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide, and M12 (Microsoft’s Venture Arm). Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC. Lines of credit are issued by Celtic Bank. For more information, please visit bluevine.com or follow us on LinkedIn, Instagram, Facebook, and X.

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SOURCE Bluevine

Technology

Ticketbud Expands Credentialing Capabilities for Large, Complex Events

Published

4 minutes ago

July 29, 2026

AUSTIN, Texas, July 29, 2026 /PRNewswire/ — Ticketbud expanded its event ticketing and credentialing capabilities to include credential printing, access control, and on-site badge services, helping large and complex events manage attendee, staff, vendor, and VIP access with greater flexibility, speed, and control.

Ticketbud expands its credential services to include credential printing, access control, and on-site badge services.

After launching and field-testing its new tools at highly attended, high profile events over the last year, Ticketbud has refined its credentialing and ticketing system to better support organizers who need more than standard ticket types. The enhanced credentialing solution allows event teams to manage tickets, credentials, access levels, intake forms, approvals, badge printing, wristbands, and on-site support through one streamlined platform.

“Every event is different, and we needed to build out a robust and customizable system for supporting the many different needs of our growing client base,” said Kayhan Ahmadi, CEO of Ticketbud. “For large, complex events, we’ve added the ability to allow event organizers to take in attendee data to set up access control for all kinds of guests, like notable guests, staff, sponsors, talent and even vendors and production staff. We can print these credentials in advance or even on demand and on site, matching our clients’ needs for flexibility and responsiveness.”

Credentialing can quickly become one of the most complicated parts of event operations, especially for organizers managing large-scale festivals, conferences, venues, sponsor activations and VIP areas across client and production teams, vendors, media, and talent. Ticketbud’s approach brings those moving pieces together, eliminating the need for multiple platforms and third-party services.

With Ticketbud, organizers have the ability to manage both ticket-level access and credential-level access in one place. Credential access can be applied across tickets, badges, and wristbands, equipping the system for the realities of high-volume event operations across multiple venues, access zones, rotating staff, sponsor activations, and tiered VIP experiences.

“The majority of large events use a ticketing software solution for selling tickets to their audience and a completely separate service for staff, security and production credentials at the event. This means that often ticket scanning and credential scanning never talk to each other.” Ahmadi said. “Most frequently, simple generic credentials are printed en masse in advance and are not assigned to a specific individual. We wanted to give event organizers a better solution: Credentials and ticketing as an integration solution.”

Ticketbud’s credentialing solution also supports customized intake and approval workflows. Organizers can create credential-specific intake forms using Ticketbud’s existing platform to collect names, photos, company information, role type, venue assignment, or other custom fields, and export submissions for review.

Client-side reviewers then approve or deny requests before credentials are printed and distributed, helping event teams maintain tighter control over who receives access to sensitive or restricted areas.

As part of its expanded event services, Ticketbud supports the physical side of credentialing, assisting with wristband ordering and credential printing and production logistics — both in-house or on-site. This gives organizers a more complete, white-glove solution than currently exists in the marketplace.

The credentialing expansion is part of Ticketbud’s broader commitment to providing all-in-one event technology and hands-on support for organizers managing events of every size, from community gatherings to large-scale productions.

About Ticketbud:

Ticketbud is the event organizers ticketing platform, user-friendly for first time organizers, powerful and flexible for large festivals and events. Access all features and ongoing customer support, with complete reporting and data ownership. With early payouts and the flexibility to customize, event organizers worldwide trust Ticketbud. Get a ticketing buddy you can rely on.

Ticketbud and Ticketbud LLC are registered trademarks of Ideabud LLC, in the United States and other countries. All other trademarks and copyrights are the property of their respective owners.

Contact:

Kayhan Ahmadi

Email: press@ticketbud.com

512-696-4658

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SOURCE Ticketbud