white paper

The 2022 State of Third-Party Insurance Verification: Industry Trends & Risks

September 23, 2022

A new study from Evident, a leading provider of automated third-party insurance verification and credentialing services for enterprises, finds that inadequate third-party insurance coverage averages $1.875 billion in risk exposure for large enterprises. These findings are the result of two years of research with the automated insurance verification provider’s customers and the partners, vendors, suppliers and franchisors for whom they verify coverage.

  • Based on an analysis of tens of thousands of records, Evident found that, on average:
  • Inadequate third-party insurance coverage averages $1.875 billion in risk exposure for large enterprises
  • 75% of third-party vendors do not meet the insurance requirements of the companies that hire them
  • 31% of third-parties simply don't respond to requests for verification

Download this white paper to learn about these findings and how automation can reduce risk for organizations.

Note: All downloads and related contact information will be accessible to the sponsor.

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As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 10,000 risk practitioners who are located in more than 60 countries. 

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