August 27, 2018
A new and improved Contract and Insurance Matrix is now available on the Finance website. The updated matrix is the result of a thorough review involving Enterprise Risk Management & Insurance, Contract Services, and Legal Affairs, and coincides with Risk Management & Insurance’s revised insurance guidelines . These guidelines align with the Inter-University Council Risk Management & Insurance Consortium (IUC-RMIC) recommendations while keeping the Level 1, 2, and 3 classifications.
The new matrix format looks similar to the old matrix with the inclusion of some additional information. Links to the new guidelines and comments have been added for clarification. Categories have been reorganized for clarity. Contract types have been updated to include the new templates introduced this past year, including the Short Form Services Agreement, Honorarium, and Services Agreement.
Risk Management & Insurance seeks to identify all types of risk confronting the University. Such an approach is referred to as ‘enterprise risk management.’ The department focuses on the compliance, operational, reputational, and economic risks faced by Ohio University in order to negate those risks in advance of a catastrophic loss. These new insurance guidelines support that mission.
A major change to the insurance guidelines will be increased insurance requirements for some services that have been determined to be riskier than previously considered. Many of these categories with increased insurance levels are called out in Appendix A , which can be found on both Contract Services’ and Enterprise Risk Management & Insurance’s web pages. A few of the major changes include:
- Catering
- Athens County caterers are no longer handled differently
- All caterers must show proof of insurance and valid food license
- Charter buses
- Insurance levels increased significantly
- Charters should only be booked with approved companies by contacting Transportation and Parking Services
- Inflatables
- Rented inflatables are not permitted on Short Form Services Agreements as entertainment
- Musicians vs. Performers
- Risk can vary drastically from a musician who shows up with a guitar and plays to a small venue vs. a performer who erects a stage and has pyrotechnics. Each engagement needs to be evaluated for risk.
Short Form Services Agreement categories remain as level 1 and there is no requirement to obtain a certificate of insurance (COI). When requesting a new COI from a supplier, the “additional insured ” on the COI should be identified as “Ohio University and its Board of Trustees, officers, agents and employees” on general and automobile coverages.
Contact Contract Services at contracts@ohio.edu with questions.