Welding & Gas CFO Club Recap December 2025

Thanks to the group of 10 that were able to make it this morning. Below are the notes from our discussion on Certificates of Insurance and VOIP.

Note Summary

The meeting focused on two main topics: certificates of insurance and voice over IP systems. Melanie Fitzgibbons, a Risk Transfer Consultant at Horton, discussed the importance of collecting certificates of insurance, explaining how they help transfer risk and protect against potential claims. The group discussed various aspects of implementing and using voice over IP systems, including features, remote work capabilities, and experiences with different providers like RingCentral and Vonage. Participants shared their experiences with text messaging capabilities, call routing, and the transition from traditional phone systems to VoIP. The conversation ended with a discussion of potential future topics, including recruitment strategies and employee incentives.

Improving COI Collection Practices

The meeting began with introductions and casual conversation about the holiday season and weather conditions. A risk transfer consultant explained their role and asked participants to share their experiences with collecting certificates of insurance (COIs) from partners. Most attendees admitted to not being proactive in collecting COIs, with some exceptions noted. The discussion highlighted a general need for improvement in COI collection practices among the group.

Certificate Collection and Risk Management

The importance of collecting certificates of insurance to transfer risk and prevent claims was discussed. Certificates confirm coverage requirements and written contracts are needed to trigger additional insured status. Responsibilities of reviewing certificates include verifying required coverages and limits, with suggestions to use certificate tracking platforms for larger organizations. Potential pitfalls of insurance fraud were highlighted, encouraging attendees to consider implementing certificate collection practices if they haven’t already.

Certificate Compliance and Risk Transfer

The meeting focused on the importance and implementation of certificates of insurance, noting that while 100% compliance isn’t the goal, transferring risk with minimal administrative burden is. Examples were provided of when certificates become relevant, particularly in cases of claims arising from subcontractors or suppliers on site. Industry-specific examples were shared, and it was noted that some members benefit from pre-existing contracts with suppliers that include certificate requirements.

Indemnification Trends and Contract Language

Discussion centered on contracts, certificates of insurance (COIs), and indemnification agreements. It was explained that while a written contract is often required for additional insured endorsements, there is typically little pushback from parties when signing contracts. The terms requested are generally well-accepted and already baked into most policies. Trends in indemnification agreements were discussed, including downstream parties indemnifying upstream parties for claims caused by contributory or concurrent negligence. A “squeeze” phenomenon was highlighted, where large manufacturers try to push risk onto distributors. Attendees were warned to review all contracts carefully, as indemnification language can sometimes be hidden or structured in ways that favor one party over another.

Certificate of Insurance Risk Management

Providing certificates of insurance (COIs) to customers was described as a risk management strategy, as many customers require them before doing business. Advice was given to provide simple COIs without endorsements, as well as additional insured status and waivers of subrogation, to maintain good relationships and avoid losing business. The importance of requesting COIs from customers who install and rent bulk tanks was also discussed, as these customers should be responsible for any damage to the tanks.

VoIP Text Messaging Implementation Discussion

The meeting focused on discussing the implementation and usage of Voice over IP (VoIP) technology across the team. Questions were raised about the features people were using, particularly text capabilities, as plans are underway to roll out this feature in the coming weeks. It was clarified that current use of text messaging is limited to internal communications and not for order-taking purposes. The team discussed the need for specific disclosures on their website before enabling certain text features, as required by their service provider, RingCentral.

Work Texting and Communication Tools

The team discussed using RingCentral for text messaging from work numbers, noting that inside sales staff often prefer texting over calling when customers don’t answer phone calls. One company reimburses employees annually for using the app on personal phones, and their system allows texts to appear from work numbers rather than personal numbers. The discussion concluded with mention of using MailChimp for marketing text blasts and email communications, plans to implement unified communications as a service in the future, and how remote workers are equipped with desk phones that connect to their home routers using PoE switches.

AR Call System Configurations

Phone system configurations were discussed, including use of a call queue system for AR calls that requires employees to use their work VoIP phones rather than personal cell phones. Some systems automatically route calls to employees’ work laptops when they’re part of the AR team, eliminating the need for cell phones. Phone answering practices were also discussed, with some using live answering for all calls with no call routing, and others reporting that eliminating complex call trees in favor of live answering improved operations.

Evolution of Phone Systems

The team discussed their phone systems, with some using Nextiva, others Zoom, and a move away from desk phones noted. A switch from Avaya to RingCentral was described as more cost-effective and better integrated with Microsoft Office, though Vonage was initially cheaper. The group agreed that desk phones are becoming less necessary as software-based solutions like soft phones and headsets provide adequate alternatives, with soft phones working well even in warehouses.

Phone System Costs and Recruitment

Cost trends of phone systems were discussed, with participants noting that costs tend to decrease over time. Frequency of outages was addressed, with outages generally brief and infrequent. Recruitment challenges, particularly for sales positions, were discussed along with potential employee incentives beyond traditional benefits. Participants were encouraged to share additional ideas for recruitment and employee incentives via email. The conversation ended with holiday wishes.

Next Topics (as always, don’t be shy sending me ideas):

• Recruiting – internal vs recruiters
• Employee incentives – outside of benefits, what is being used effectively (PTO, gym memberships, food allowance, etc.)

Upcoming Dates

• CFO Club 2/18
• CFO Club 4/15

Have a great holiday and Merry Christmas!