The State of Insurance Verification

April 21, 2021

The State of Insurance Verification

Third-party insurance verification is the process of confirming that a companies partners, franchisees, vendors, etc. all have enough insurance in place to keep their risk form spilling over the company when bad things happen. Imagine a convenience store franchisee having an accident in their store and finding that, even though they are contractually obligated to have an active insurance policy with a certain level of coverage, their policy is not adequate and the parent company is required to either use their own insurance or make a direct payment to cover the franchisee store’s damages. Either way, the parent company has sustained a loss, and an avoidable one, at that.

Evident is releasing a new report to shed more light on this process and how well companies are doing at managing this risk. While this seems like a risk that organizations could easily avoid, our findings indicate that many struggle to perform this function and, hence, have a significant amount of risk from their own third-party networks.

The report will include
– Statistical benchmarks for compliance levels, response rates and various coverage types and amounts
– Analysis of the most impactful changes organizations can make to improve performance
– Sign up now to receive the report when it is released.

Tell us a little about yourself and we will send you the report as soon as it is available.

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