Financial statements are one document to look at. We will also inquire to their AM Best rating, which is evaluated regularly.
Original Message:
Sent: 02-16-2023 03:31 PM
From: Sean Kiley
Subject: Vendor Due Diligence on an insurance vendor.
Insurance providers represent the risk of not being able to pay their claims. What types of due diligence should we request when trying to on-board a new insurance vendor. Are audited financials sufficient or should we be looking at other avenues such as their reinsurance?