blog posts Policy Open Comment Period: 6.1.1 Determine Minimum Insurance Requirements for Vendors Aug 15, 2023 3:45 pmTravelAccounting and BudgetingBuying and ContractsFY 24Paying PeoplePayments to the UniversityThe Office of the Vice President, Chief Financial Officer, and Comptroller announces an open comment period for Policy 6.1.1 Determine Minimum Insurance Requirements for Vendors from August 15 to August 21, 2023. This policy has updated risk tiers for contracts regarding sharing and transfer of personal or sensitive data with outside entities, hazardous materials, and vehicle charters.Please review the proposed changes and provide feedback on the comment blog to be considered before the new policy is published.Highlights Include:Contracts governing the sharing or transferring of personal/sensitive data (e.g., EU GDPR, HIPAA, FERPA, etc.) have moved from Medium to High Risk. Contracts involving hazardous materials for various services (e.g., abatement, hauling, use, etc.) has moved from Medium to High Risk. Contracts regarding vehicle charters have moved from Medium to High Risk. The tier one and tier two insurance requirement documents have been updated.ContactIf you have questions about the updates to the policy, please contact the CFO Business and Finance Policy Office at email@example.com.