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Insurance Compliance

myCOI

BCN Purchasing is pleased to announce a new partnership with myCOI, an industry leader in insurance tracking technology.

myCOI is responsible for tracking and verifying that your certificate of insurance meets the requirements specified in your agreement with the institution within the Nevada System of Higher Education (NSHE) that you are doing business with.

Please refer to the myCOI flyer for more information.

For the latest insurance requirements, please take a look at Insurance requirements for BCN NSHE Contracts.

 

Obtaining Insurance for Services Performed on NSHE Property

For all services provided on NSHE-owned property, except Independent Contractor (IC) services, the minimum insurance requirements (general liability, auto liability, workers comp) noted on the BCN Risk Management website are required.

  • Note: IC insurance is reviewed directly by BCN Risk Management via a separate process.

Overview of the process:

  1. Purchasing will be triggered to obtain insurance when a requisition is entered in Workday by the department for services and no current insurance is on file.
  2. Requests for insurance are transmitted via the myCOI Insurance Management System.
  3. The initial request is emailed to the vendor so they can enter their insurance carrier(s) contact information. myCOI then sends a request for the required insurance directly to the insurance carrier.
  4. The insurance carrier will upload the certificates into myCOI.
  5. Once all required insurance is obtained, reviewed, and confirmed compliant, the requisition can be processed by the buyer.

myCOI will send automatic reminders to the insurance carrier(s) until the correct and complete insurance is received. Once insurance is compliant, myCOI will send automatic reminders to the insurance carrier(s) once policies are due for renewal.