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!


same_strip_012513


 

Posted in Vendor Management

Latest News
    The One Test… …Is there a Test that Covers 9/11’s of the Battle? Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Twenty years ago two geek-friends and I debated the following question:  “Is there an Audit Test that covers 9/11’s of the battle?” This […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS NEW EMPLOYEE FOR INFOTEX infotex has just hired Tanvee Dhir, to be a new Data Security Analyst. “Tanvee is an outstanding addition to the team, bringing a new skillset we are eager to utilize.” says Chad Smith, NOC Manager of infotex. “I am really excited to be […]
    While we’re not a news service, we often use current events to comment on trends and our services. This blog is intended to get people thinking about topics and trends in Technology Risk Management, through our article reviews, as well as through original blog articles about current events and our MSSP services (such as our […]
    Seven Trends . . . that small bank Information Security Officers face in 2021 Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Welcome to the Magnificent Seven, my annual predictive article about the seven trends in technology that will impact the Information Security Officers of […]
    Top Seven Risks . . . that small bank Information Security Officers face in 2021 Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . Once again, I compile this list in preparation for updating our normal board of directors awareness training PowerPoints and movies and such. […]