Insurance

Depending on the type of product or service that you are buying, your subcontractor may be required to obtain insurance coverage.

Five types of insurance are preset in Costpoint: Automobile, Excess Liability, General Liability, Umbrella, and Worker's Compensation.

Your contract administrator or project manager will have copies of your subcontractor's insurance information. From this information, you can complete:

• The Manage Insurance Carrier Information screen, and
• The Insurance subtask of the Subcontractor Payment Control block on the Manage Vendors screen.

When you select the Required for Payment check box on the Subcontractor Insurance subtask and Costpoint finds that the system date (today's date) falls within the required start date and required end date, Costpoint will not release a vendor payment unless the system date falls within the insurance effective date and expiration date.

While not all fields are required, Deltek recommends that you store as much information as possible on these policies.