- #Coi oversight process drivers
- #Coi oversight process manual
- #Coi oversight process license
- #Coi oversight process series
#Coi oversight process manual
“A manual process for COI management can easily become a resource draining nightmare.
Our post Managing certificates of insurance (COI) successfully discusses how complexity adds to the challenge: This means creating separate messages for different types of insureds and spending time deciding which insured requires which message. Different vendors and contractors may require vastly different minimum coverages. Customized messagesĬomplicating the communication process further, not all insureds should receive the same message. This is not the model of a scalable process and typically leads to a huge resource drain. Tracking who needs a follow up through spreadsheets, even those with helpful color coding, still requires someone to send out the emails while continually updating the sheet. This increases the likelihood that you or a member of your staff will have to follow up. According to the 2017 Adobe Consumer Email Survey Report, more than 3 out of every 10 business emails sent will not even be opened. The vendors and contractors you need to complete/update certificate information are likely facing their own email overload. Several communication challenges make this process less than efficient.
#Coi oversight process drivers
The drivers that tap resources in the COI management process typically involve wasting time chasing down certificates from non-responsive insureds.
Process issues with COI management are really communication issues Given the mandate public entities have to stretch every resource to the furthest extent possible, the tension between the importance of an effective COI management process and the toll it takes on those managing it is difficult to resolve. Yet the administrative burden associated with endless cycles of hunting down updates and monitoring for expirations or deficiencies can easily exhaust any department. Most public entities are obligated to carefully monitor COI compliance in order to control unidentified risk transfer. The article Contractual Risk Transfer Issues: Reviewing Certificates of Insurance highlights the important role COIs play in risk management, noting, “Because many liability losses occur through the transfer of risk, it has become necessary for a Risk Control Consultant to assess the hazards and controls arising from contracts and agreements in a fashion similar to identifying other hazards, such as exposed wiring or missing guardrails.”
#Coi oversight process series
Using the RC, you answer a series of questions to provide detail to the COI office via the M-Inform system (see References & Resources below for downloadable instructions).Although the process can be a time-draining administrative exercise, COI management is fundamental to managing risk transfer. If a COI office requires additional information in order to identify if a potential conflict of interest exists, you will receive an email with a link to the online Research Certification (RC) in M-Inform. developed at U-M, and non-UM patents, copyrights, and royalties