Due Diligence and Ongoing Monitoring

Hi All,

Need some guidance and best industry practice on insurance coverage for vendors:

- Is it mandatory for 'All' suppliers to have the liability coverage? Or is it only based on high risk, or only if the vendor has access to internal data?
- What components in the Insurance are absolutely essential? Like CGL/ E&O/ aggregate or per occurrence etc.?
- Any inputs on typical minimum coverage $ values would also be very helpful.

Thanks in advance,
Loveleen

Hi All,

Any inputs on this will be very helpful, thanks again.

Cheers,
Loveleen

Hi All,

Need some guidance and best industry practice on insurance coverage for vendors:

- Is it mandatory for 'All' suppliers to have the liability coverage? Or is it only based on high risk, or only if the vendor has access to internal data?
- What components in the Insurance are absolutely essential? Like CGL/ E&O/ aggregate or per occurrence etc.?
- Any inputs on typical minimum coverage $ values would also be very helpful.

Thanks in advance,
Loveleen

Hi All,

Any inputs on this will be very helpful, thanks again.

Cheers,
Loveleen

Hi All,

Need some guidance and best industry practice on insurance coverage for vendors:

- Is it mandatory for 'All' suppliers to have the liability coverage? Or is it only based on high risk, or only if the vendor has access to internal data?
- What components in the Insurance are absolutely essential? Like CGL/ E&O/ aggregate or per occurrence etc.?
- Any inputs on typical minimum coverage $ values would also be very helpful.

Thanks in advance,
Loveleen

I am interested in this as well as a financial services company... Also, what reviews do you all conduct of the insurance information?  Is it just for reasonableness based on the spend with the vendor?  We don't have an Insurance SME for review of the COIs, so having the vendor-owners understand the need and level of scrutiny is what we're trying to understand.

Hi All,

Any inputs on this will be very helpful, thanks again.

Cheers,
Loveleen

Hi All,

Need some guidance and best industry practice on insurance coverage for vendors:

- Is it mandatory for 'All' suppliers to have the liability coverage? Or is it only based on high risk, or only if the vendor has access to internal data?
- What components in the Insurance are absolutely essential? Like CGL/ E&O/ aggregate or per occurrence etc.?
- Any inputs on typical minimum coverage $ values would also be very helpful.

Thanks in advance,
Loveleen

Suggestion: I would love to see a Venminder webinar or a short video on insurance coverage and best practices.

I am interested in this as well as a financial services company... Also, what reviews do you all conduct of the insurance information?  Is it just for reasonableness based on the spend with the vendor?  We don't have an Insurance SME for review of the COIs, so having the vendor-owners understand the need and level of scrutiny is what we're trying to understand.

Hi All,

Any inputs on this will be very helpful, thanks again.

Cheers,
Loveleen

Hi All,

Need some guidance and best industry practice on insurance coverage for vendors:

- Is it mandatory for 'All' suppliers to have the liability coverage? Or is it only based on high risk, or only if the vendor has access to internal data?
- What components in the Insurance are absolutely essential? Like CGL/ E&O/ aggregate or per occurrence etc.?
- Any inputs on typical minimum coverage $ values would also be very helpful.

Thanks in advance,
Loveleen