HomeMy WebLinkAboutPROCUREMENT SOP #15 - Risk Management ProcessRevision August 2024 Staff Contact: Risk Management/Krista Kolaz
PROCUREMENT SOP #15
Risk Management Process
1.Applicability:
Risk Management (RM) provides two approvals associated with contracts: risk approval/contract
review and COi approval memo for the contracting agency's Certificate of Insurance (COi).
2.Process:
Risk Contract Approval
Risk Management will review contract language regarding liability terms, indemnification (hold
harmless), and insurance requirements. If the contract is approved, RM will send an approval
email with the following:
•Email format must be saved as a PDF to upload into the city clerk's system
•Header states [Risk Review] or [Risk Approval]
•Email body states "Risk management has reviewed the attached contract (or
lease/agreement) and approves with respect to risk language."
NOTE: Amendments do not require RM review/approval.
Certificate of Insurance (COi) Approval Memos
Risk Management reviews the COi to ensure proper insurance coverage is in place to
protect the City against loss. Upload the COi into Origami: COi Portal. RM will review and if
the COi meets the contract and City guideline requirements, an email will be provided
with a COi approval memo attached.
•"COi Approval Memo"
•Sent via email as a .pdf attachment produced after submitting the Certificate
of Insurance in Origami: COi Portal.
DATE:
TO;
FROM:
SUBJECT;
�UMAN RESOURCES
AND RISK MANAGEMENT
M E M O R A N D U M
, [Date of Request]
[Employee Nilme, EmplQyee Dep:artment, Employee Diviliion)
_ Risk Management
Insurance Review/ [Company Vendor NameJ
RE: [CAG #]
Risk Management has reviewed the certificate of insurance for the above-named entity.
The insurance certificate meets the City's risk management requirements.
Corresponding with the COi e)(piration, this approval memo is valid until [Expiration
Date], or until changes in the contract or work invalidate the insurance coverage.
Revision August 2024 Staff Contact: Risk Management/Krista Kolaz
NOTE: City clerk division will ask for the COi to be uploaded as well.
NOTE: Amendments: if COi approval memo is still valid (date in body and title of memo
is not expired), submit the same COi approval memo from the original contract.
If expired, submit a current COi to Origami.