What is a Certificate of Insurance?
A Certificate of Insurance (COI) shows what types of insurance the Named Insured has and shares this information with the Certificate Holder listed on the document. The certificate includes details such as the type of coverage, policy number, policy dates, and coverage limits. It may also indicate if the certificate holder is added as an Additional Insured or if there is a Waiver of Subrogation.
Boise State University requires certificates from third party vendors, contractors and businesses as part of strategic and sound business practices in support and protection of the university’s financial well-being. Certificates of Insurance are one indicator of financial health and good risk management practices on the part of third-party contractors or vendors.
Certificates should be collected prior to services beginning and any losses occur.
For services or events that may have special circumstances or exposures (liquor, pollution, cyber, builders risk, aviation including drones, etc), please contact Risk Management for discussion at 208.426.3636 or enoot@edu.idaho.gov.
Requesting Certificates FROM Third Parties
The university requests a certificate of insurance from other parties (non-State of Idaho) performing a service or using university facilities. Departments should request evidence of insurance from other parties using the Contractor/Vendor/Performer or the BUS-Shuttle guideline documents, which the other party can provide to their insurance agent or broker. Departments should also include the COI-Sample for reference by the contractor or vendor’s insurance agent. This will inform the agent on how to properly complete the certificate needed to meet the university’s insurance requirements.
Incomplete or incorrect certificates will result in a delay of approval. Risk Management reserves the right to negotiate alternative coverage and limits based on the type of event.
Requesting Certificates FOR Third Parties
Boise State participates in the Retained Risk program administered through the State of Idaho and is subject to the limits of liability specified in Idaho Code 6-901 through 6-929, known as the Idaho Tort Claims Act (ITCA). The Retained Risk program is self-funded for liability exposures and privately insured for property losses.
Departments may request a Certificate of Financial Responsibility (CFR) showing evidence of the university’s coverages, including liability, auto, property and others. Requests are sent to the State of Idaho.
Liability requests are subject to the terms and limits of the ITCA. Standard certificates are at $500,000 limit and do NOT include additional insured status.
Property requests for coverage of leased assets will be issued for the value of the asset.
Request a CFR
To request a Certificate of Financial Responsibility showing evidence of the university’s coverages, fill out and submit the State Risk Liability/Auto/Property COI Request Form. Make sure to include the following information and complete the form as follows:
- Requesting Agency is always Boise State University.
- Certificate Holder is the name of the third party who is requiring a COI from Boise State.
- In the “Supervisors/Other” field, enter RMI@boisestate.edu so that Boise State RMI can review any relevant information with State Risk Underwriting should there be a question about the request.
- Description of event, if applicable.
- Copies of contracts or leases, if applicable.
- Value (purchase price) and descriptions (year, make, model, serial number, VIN) of assets to be covered under the certificate.
- Dates of coverage.