Presentation on theme: "“What do you want and Why” CERTIFICATES AND AGREEMENTS"— Presentation transcript:
1 “What do you want and Why” CERTIFICATES AND AGREEMENTS
2 CERTIFICATE OF INSURANCE & AGREEMENTS WHAT IS A CERTIFICATE OF INSURANCE AND SERVICE/USE OF FACILITIES AGREEMENT?WHAT DO I ASK FOR?WHY DO WE NEED THESE?
3 CERTIFICATE OF INSURANCE A CERTIFICATE OF INSURANCE IS AN INSURANCE DOCUMENT PROVIDED TO US BY THE VENDOR/CLIENTS INSURANCE CARRIERTHE CERTIFICATE WILL LIST THE TYPE OF COVERAGE THAT THE VENDOR/CLIENT MAY HAVE, CARRIER NAME, POLICY LIMITS AND EFFECTIVE DATES
4 CERTIFICATE OF INSURANCE (COI) CONT’D A CERTIFICATE OF INSURANCE PROVIDES US WITH THE NECESSARY INFORMATION IN ORDER TO CONTACT OR LOCATE THE CLIENT/VENDORS INSURANCE CARRIER IN THE EVENT OF DAMAGE TO OUR CAMPUS OR OUR FACILITIES BY THE VENDOR/CLIENT
5 COI (CONT’D)WE REQUEST A COI FROM ANY INDIVIDUAL, GROUP, BUSINESS OR ORGANIZATION THAT MAY BE PROVIDING A SERVICE TO RHIT OR USING OUR FACILITIESIF AN INDIVIDUAL, GROUP, BUSINESS OR ORGANIZATION IS PROVIDING A SERVICE: WE WOULD ASK TO SEE PROOF OF INSURANCE FOR:GENERAL LIABILITY (Minimum 1 Million)AUTOWORKER’S COMPENSATIONTHESE ARE MINIMAL REQUIREMENTS. IT MAY BENECESSARY TO REQUIRE ADDITIONAL COVERAGESOR LIMITS, BASED ON THE SERVICE BEING PROVIDED.
6 COI (CONT’D)WE ALSO “REQUIRE” THE INDIVIDUAL, BUSINESS, GROUP OR ORGANIZATION TO LIST ROSE-HULMAN AS AN “ADDITIONAL INSURED” ON THIS CERTIFICATE.BY LISTING RHIT AS AN ADDITIONAL INSURED, THE CLIENT/VENDORS POLICY WILL AFFORD COVERAGE TO ROSE-HULMAN FOR EXPENSES AND LEGAL FEES INVOLVING A THIRD PARTY CLAIM AGAINST THE CLIENT/VENDOR AND RHIT IN THE EVENT OF A CLAIM AGAINST THE CLIENT/CARRIER. (Ex: Client is negligent and causes bodily injury to a third party. The third party will pursue the RHIT client/vendor and RHIT, since the incident happened on our campus. The client/vendor policy will now represent RHIT at the client/vendor carriers expense since the client/vendor was negligent and not RHIT)Without this endorsement, RHIT’s insurance carrier would have to represent RHIT and pay any legal expenses incurred for a negligent claim that was not directly created or caused by RHIT. This act will cause RHIT’s premiums to increase in future years.)THE ADDITIONAL INSURED ENDORSEMENT ALSO PROVIDES RHIT WRITTEN NOTIFICATION IN THE EVENT THE CLIENT/VENDOR POLICY SHOULD BE CANCELLED AT ANYTIME AFTER THE COI/ADDITIONAL INSURANCE ENDORSEMENT IS ISSUED.
7 Certificate of Insurance This is a Certificate of Insurance(COI). 99% of all companies use this form but some companies, such as “State Farm,” or specialty carriers have their own version.When in doubt, please contact me at X8457.
8 Certificate of Insurance Once you receive the certificate, please fax to me at X8032 or send to me at CM21. I will review the certificate. If adequate coverage is not listed, I will contact the carrier/client/vendor directly and request a revised COI. I will also contact the RHIT individual that provided me with the original COI and advise them of my request.I will then add the vendor/client to our existing Banner COI database (FZBICOI).
9 Certificate of Insurance The Banner COI database will list every vendor/client that is on campus (that I am aware of!) with a current COI and/or Agreement on file. If your vendor/client is not listed, please request a signed agreement and a COI “BEFORE” permitting the client/vendor on campus.
10 “Service Provider” Agreement This is a “Service Provider” agreement. This is required from any individual, group, business or organization providing a service. It does not matter if fees are charged, an agreement is always required. You would also request/obtain a COI listing Rose-Hulman as an Additional InsuredA copy of this agreement and COI should be retained by the requesting department and the originals should be sent to Susan Butts in Administrative Services.
11 “Use of Facilities” Agreement This form is required when an individual, group, business or organization “use” our facilities or our campus. Such events could include, but not limited to, MS Walk, Car Show, Alumni Race, Homecoming and etc. This agreement is required even if no fees are charged.You would also obtain a COI and request that Rose-Hulman be listed as an Additional Insured for the date (s) of the event. The original agreement and COI should be sent to Susan Butts.
12 COI/Agreements (cont’d) Never assume since an individual, business, group or organization has been on campus in the past, or are presently on campus, that we have an agreement or current COI on file. You must always check the COI list “prior” to allowing the client/vendor on campus. If they are not on the list, then I do not have a certificate or an agreement, and each must be obtained prior to coming on campus to provide a service or use our facilities
13 Why Do I Care???If we allow an individual, group, organization or business to provide a service without adequate coverage, it could in turn affect RHIT.Example: Client/Vendor has employees on campus and fails to obtain Worker’s Compensation insurance. The client/vendor has an employee that obtains an injury while working on our campus. The RHIT worker’s compensation insurance, which is meant for RHIT employees, may now be required by the State of Indiana to pay this injured workers wages, medical bills and all additional costs incurred due to this injury.
14 ConclusionIt is not your responsibility to answer insurance questions. Please feel free to direct individuals to me for a response.I will assist in anyway that I can in order to make this process easier for you.Suggestions, comments