An annual vendor compliance review proves your organization actively manages insurance risk — not just files PDFs. Property managers, HOA boards, and facilities teams use this template each year or before audit season.
Annual review timeline
- Q1 or fiscal year start — pull vendor master list; remove inactive vendors
- Week 1 — verify every active vendor has a COI on file dated within 12 months
- Week 2 — run compliance check: GL limits, workers comp, additional insured
- Week 3 — chase missing/expired certificates; suspend non-responsive vendors
- Week 4 — export compliance report for leadership or board; document exceptions
Review checklist per vendor
- COI expiration after review date
- GL limits meet trade-specific minimums
- Workers comp present or valid exemption on file
- Additional insured confirmed if required
- Named insured matches contract entity
- W-9 and contract renewal aligned
Reporting for boards and insurers
Summarize: total active vendors, compliant count, expiring within 30 days, non-compliant with action plan. CertGuard generates PDF and CSV compliance reports in one click — useful for board packets and insurer questionnaires.
Continuous vs annual-only
Annual review is the minimum; continuous monitoring with automated reminders prevents mid-year lapses. Combine this template with daily dashboard tracking for best results.