Risk is everywhere;  in your parking lot,  on your roof,   in your lobby or even on your computer network.  The 3rd parties you hire to maintain and repair these areas bring more than their tools onto your property, they also bring risk. Additionally, product suppliers you rely on and tenants you may lease space to also expose you to additional risk which also needs to be appropriately managed.

Organizations must have the proper standards, policies and procedures in place to offset this risk.

BUSINESS CHALLENGE


Critical documents such as contracts, certificates of insurance (COIs) and W-9’s along with any subsequent amendments, require efficient and effective monitoring by experts.

Failure to do so will expose your business to avoidable risk and unnecessary costs and wasted time.

How are you managing your insurance compliance solutions?


Many businesses attempt to fully manage these exposures in-house with software or a spreadsheet, or perhaps believe their broker is managing their exposures for them.  If you have an existing process to track 3rd party compliance to your insurance requirements, there are four very important questions you need to consider:
  1. Is your current process as thorough, efficient and cost effective as it should be?
  2. Do you have qualified personnel in place at every facility to properly audit COIs and contract details who understand how to identify the loopholes which limit the transfer of risk?
  3. Are you sure your risk management program is being applied consistently right across your whole business?
  4. If you own or manage properties, does executive management and local property teams receive intelligent real time compliance reports on every 3rd party (suppliers and tenants) to ensure they never work at your building while being uninsured or underinsured?


Certrax answers all these questions by providing the most comprehensive compliance system available, managed by a dedicated, process driven team; the advanced Certrax platform delivers the highest and most consistent compliance in the industry.