3 Best Reasons For Hiring Experts to Monitor Your 3rd Party Insurance
Most business owners have built their dreams from scratch, or paid a substantial licensing fee to open a franchise. Either way, the investment of time and money are absolutely worth protecting. No one wants their hard earned success to be stolen by an insurance mistake that could have been avoided.
3rd party insurance monitoring is an ongoing and ever-changing task that all business owners must face. It is tedious and time consuming. Insurance requirements are consistently adjusted, calling for updated documentation. And if there happens to be an accident of any kind, you will be held responsible if those documents aren’t in order.
Here are 3 of the best reasons to use expert 3rd party insurance monitoring.
1) Cost Savings: A professional monitoring team provides you with verified, updated, and organized services that will keep all of your documents current and compliant. The investment to hire a professional team is minimal. And it will save you HUNDREDS of THOUSANDS, even MILLIONS of dollars in potential losses for any unforeseen 3rd party claims.
2) Experts on Your Side: Some companies attempt to take on the enormous task of monitoring their 3rd party insurance certificates “in-house”. The risks involved with missing a single detail could be devastating. Assigning this responsibility to existing staff members is extremely risky. Here are a few reasons why this practice could cost you severely.
Your staff has limited knowledge about 3rd party insurance. There’s no guarantee they are monitoring correctly. One missed document could be devastating.
They lack the organization required to collect, review, and update the piles certificates.
A mistake will leave you facing uninsured claims, lawsuits, attorney fees, and loss of business.
3) Peace of Mind: Hiring a professional team whose sole purpose is the task of protecting your assets will increase savings while you focus on growing the company. Why should you call in the experts?
Protect yourself from vicarious liabilities with guaranteed results.
Reliable help that is constantly working for you to provide innovative and effective solutions.
Enjoy the highest quality of service and absolute transparency throughout the process.
Gain instant access to your 3rd party certificates’ status.
Never worry about 3rd party liability again.
Don’t burden your company with this dangerous risk. Be pro-active. Give us a call to receive your customized solution. Take control of your 3rd party insurance liabilities. All you need is a Spreadsheet.