The new BUS-63 Risk Matrix streamlines how departments decide whether a Certificate of Insurance (COI) is needed when working with vendors, contractors, or external facility users. Instead of navigating dense policy text, staff can now quickly match an activity or service to its risk level and see the corresponding insurance requirements at a glance.
The matrix guides users through key questions:
• What type of activity is taking place?
• What level of risk does it pose?
• What insurance coverage is required — if any?
For low-risk engagements, the matrix may show that no COI is required, helping departments avoid unnecessary paperwork. For moderate- or high-risk activities, it clearly identifies when a COI must be collected, what minimum coverage limits apply, and whether the University must be listed as an Additional Insured.
By simplifying these determinations, the Risk Matrix supports faster contracting, fewer processing delays, and better compliance with BUS-63’s core principles of risk transfer and protection of the University.
Learn more and review the full Risk Matrix with Certificate of Insurance requirements (login required):
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