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Should You Revisit Insured Property Value Estimates?

Risk Management Monitor

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. On the other hand, performing an appraisal (which insurers typically consider the “gold standard”) can provide much-needed accuracy and thoroughness, but will require a greater commitment of time and resources.

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Important KPIs for Successful Vendor Management

Reciprocity

Benchmark multiple vendors’ performance. Work with vendors to improve performance issues. Resolve problems to avoid harm to your productivity or services. Ensure that your business is making the best use of the vendors’ services. Improve your organization’s overall third-party risk management.

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Internal Controls & Fraud Prevention

Reciprocity

It serves as a benchmark to assess behaviors and hold employees accountable if they are non-compliant. A well-written code of conduct outlines your organization’s mission, vision, values, principles, and commitments. More importantly, it links them to expected ethical and moral standards of professional behavior.

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