Original Air Date: September 1, 2022
Virtually every business today relies on third parties (eg. maintenance contractors, suppliers, vendors, subcontractors, etc.) in some capacity to conduct their day to day operations. From maintenance repairs to production, the utilization of these third parties can bring rise to several often-overlooked risks in the workplace. By implementing an effective contractor management program, a business will be able to reduce their overall risk associated with the use of these third-party entities.
Safety and risk management efforts have traditionally been focused on areas such as workers safety and property protection, but frequently overlook the risk associated with bringing third parties onto your premises. By taking a holistic approach to the contractor selection and management process, this discussion is designed to look at the risks associated with the use of third parties across a variety of industries and applications, and how businesses can leverage their expertise in the selection and management process.
Through the exploration of various avenues, including retention, mitigation, transfer, and avoidance, the attendee will be equipped with the necessary tools to support their organization’s global risk management efforts. This goal will be accomplished through the discussion of real-life case studies, the basics to contractual risk transfer, training and oversight, and on-going management efforts.
This session is designed to explore the hidden risks associated with the usage of third parties to operations and the various tools available to treat that risk. After this session, attendees will be able to leverage their expertise to impact their organization’s global risk management efforts by having a better understanding of the selection and management process, contractual risk transfer mechanisms, hazard recognition, and on-going treatment of risk.
Note: This webinar is intended to provide a loss control perspective of the topic. Insurance coverage issues will not be covered during this webcast. If you have questions concerning coverage or insurability, please contact your insurance broker or underwriter.