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Sustainable Construction Professional Liability Risks—Building owners must remain diligent about the processes and products used by design professionals to deliver the expected outcomes, warns Jeff Slivka.

Agents and Brokers Look Abroad for Expansion—Jeff Balcombe discusses recent trends in the valuation of insurance agencies and brokerage firms.

Insurance Producer's Professional Status—The judicially imposed standard of care, writes Tim Ryles, cheapens the role of insurance providers.

States Move To Protect Employees' Social Media Rights—Paul Siegel discusses court and state attempts to prevent employers from demanding employee log-in information.

The NRRA's Effect on Captives—The NRRA deals with how surplus lines taxes on nonadmitted insurance premiums are levied. Don Riggin explains.

Consumer Privacy Framework and Next Steps—In light of the new FTC report, Melissa Krasnow advises companies to stay apprised of privacy, technology, and related developments.

Evaluating Potential Employers—When looking for a job, look for certain observable characteristics in employer candidates, Brenda Wells advises.

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Current Issue of IRMI Update

Read the May 9 issue and sign up for this free e-mail newsletter.

Sign Up for This Free E-Mail NewsletterIRMI Update 271 announces an update of the IRMI directory of U.S. college and university risk management and insurance programs. The Risk Tip advises readers to recognize the severity of their flood damage risk.

IRMI Insights

Sound Advice for Contract Drafters: Fix Your Out-of-Date Insurance Requirements!

Many contracts require decades' old insurance policies and endorsements. For example, the comprehensive general liability policy became extinct in 1986, yet many leases, construction contracts, rental agreements, and other business contracts still require it along with other nonexistent insurance contracts and endorsements. This article describes the issue and why it is a problem for the drafter's company as well as for the lessee, vendor, or contractor, and why it results in an immediate breach of contract situation upon execution of the agreement. It then provides simple, straightforward advice to contract drafters who wish to assure their organizations are properly protected. Feel free to send this article to anyone who asks you or your clients to comply with out-of-date insurance requirements.