The following linked pdf was provided as a resource by the Third Party Risk Association (TPRA) and may be helpful. If you are not already a member of the association, you may want to consider joining under the free membership. I highly recommend.
Alliant - Insurance Requirements in Contracts - A Procedure Manual:
https://alliant.com/media/qklan1gp/iric.pdf
Original Message:
Sent: 03-25-2024 03:46 PM
From: Mark Hull
Subject: How do you right size insurance requirements for vendors?
I am looking for input for what others do to right size insurance requirements for vendors they do business with? What parameters do you use and how do you determine the amount of insurance coverage that you require the vendor to carry?