About Us | Contact Us
View Cart

It’s 10 P.M., Do You Know Where Your Vendor’s Insurance Certificates Are?

By Matt Jolley | Tuesday, August 9, 2016 - Leave a Comment

It’s a small thing, but it could cause big problems down the road…

Staying on top of your vendor management dutiesbtn_VenMan is a never-ending task, why it almost seems like as soon as you’ve completed your due diligence on the last vendor on your list it’s time to start on the next round of annual reviews! Even focusing on assurance alone can feel like a job unto itself with SSAE-16s, SOC-1 Type IIs, SOC-2s and “replaces SAS-70” to keep straight.

Yes, vendor management can be daunting but with so much at stake there’s little choice but to stay on top of it. With that in mind there’s a crucial detail that is easy to forget, but can cause a tremendous amount of grief down the road and that’s your vendor’s insurance coverage. It’s not enough to make sure that your vendor provides them, it’s important to note when they expire and to make sure that you receive updated copies when their policies are renewed.

If you haven’t already, make a note in your calendar reminding you when your vendor’s current policy is set to expire. Depending on the specific language in your contract, if you forget to check up on this and the unthinkable happens you may be in an extremely disadvantageous position!



Posted in Vendor Management

Latest News
    Ransomware payments sent to countries under sanctions could result in fines… An article review. Whether or not to pay the organization behind a ransomware attack has been a hotly debated subject for many years, but a new advisory issued by the Treasury Department’s Office of Foreign Assets Control (OFAC) warns those who do pay up […]
    Welcome Webinar Attendees! You can download the deliverables by clicking on the link below. Boilerplates/Handouts Click here to download files.        
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Data by Rob Sobers, writing […]
    Thanks for being interested in our Technology Planning Webinars! This year‘s annual webinar on the subject will include a review of the previous years’ movies that are already available, and a discussion about alternative tactics that have arisen from recent virtual conferences and regulator panels. It’s not too late to register for the 2020 Technology […]
    Check out the Sponsor Video! We will be updating the video on YouTube in the coming days, but will include the credits so everyone is recognized for all their hard work. Like our Facebook, Twitter, and Subscribe on YouTube for further updates! Credits Producer: Bryan Bonnell “K0s$” Director: Sara Fultz Editor: Sofia Tafoya Wardrobe: Our […]