Contractual Risk Transfer

A one-of-a-kind reference for best practices.

Any contracting party needs this IRMI best-seller within arm's reach.

Contractual Risk Transfer is a one-of-a-kind resource to help you draft rock solid risk transfer and insurance clauses for construction contracts, leases, purchase orders, rental agreements, oil and gas drilling and production contracts, and many other contractual agreements.

It empowers contract drafters with model clauses using up-to-date insurance terminology rather than the ambiguous and archaic language so often seen in agreements copied from work done many years ago. Discussions and summaries of state statutes affecting contractual indemnity help you ensure that hold harmless clauses will be enforceable.

Contractual Risk Transfer also provides detailed discussions and advice with respect to using or requiring an additional insured endorsement, waiver of subrogation, contractual liability coverage, cross-liability coverage provision, mortgagee or loss payee clause, owners and contractors protective liability insurance, and other types of insurance to cover contractually assumed risks.

Authors

Jeff WoodwardW. Jeffrey Woodward
Senior Research Analyst
IRMI
 
Lisa SmucklerLisa Smuckler
Research Analyst
IRMI
 
Patrick WielinskiPatrick J. Wielinski
Principal
Cokinos, Bosien & Young
 
Jack GibsonJack P. Gibson
President & CEO
IRMI
 

Contractual Risk Transfer covers these topics.

  • Contractual Risk Transfer as a Risk Management Technique
  • Basics of Contract Law
  • Employee Leasing Exposure
  • Overview of Contractual Risk Transfer Strategies
  • Types of Indemnity Provisions
  • Waivers of Subrogation
  • Limitation of Liability Clauses
  • Contractual Liability Insurance
  • Additional Insured Status
  • Nonstandard Additional Insured Endorsements
  • Protective Liability Insurance
  • Model Insurance Requirements
  • Insurance Certifications
  • Certificate Administration
  • Construction Contracts
  • Real Estate Contracts
  • Personal Property Contracts
  • Energy Industry Contracts

Download Table of Contents

Agents, Brokers, and Account Support Staff

  • Contractual Risk Transfer will equip you to confidently provide significant value-added risk management services for your clients.
  • Use the authoritative analyses as third-party support of your suggested compromises to clients’ business partners who are trying to impose unrealistic insurance or indemnity requirements on your clients.
  • Increase your value-added service by offering your clients practical advice for drafting contract insurance requirements that will ensure necessary coverages are in place, while avoiding requests for unneeded or unobtainable coverages.
  • Gain specialized industry knowledge about specific industry contracts, particularly standard construction agreements, which empowers you to make meaningful suggestions for contract modifications.
  • Use the discussions to document common industry practices for your underwriters when you meet resistance obtaining insurance policy modifications required of your clients.

Risk Managers, Financial Executives, & Insurance Buyers

  • Detailed checklists cross-indexed to the discussions in Contractual Risk Transfer will help you expertly review contracts to identify problems or noncompliance issues.
  • Model insurance clauses will help you write precise and appropriate requirements while saving hours of drafting time.
  • State-by-state discussion and summary of anti-indemnity statutes for oil and gas and construction contracts helps you secure maximum protection while minimizing the possibility of the hold harmless provision being nullified by the courts.
  • A detailed and continuously updated discussion of additional insured status with respect to general liability, auto liability, umbrella liability, workers compensation, and property insurance will help you decide what contract requirements to impose on others or to educate others when they make impractical or unobtainable insurance requirements.
  • Analyses of the standard construction contracts will help you develop ideas for modifying them to eliminate ambiguity and maximize protection of your organization.

Underwriters

  • Keep up with the latest changes in the ISO additional insured endorsements and the nuances of the many different insurer-drafted endorsements being used in the marketplace.
  • Understand the implications of requests for unusual policy changes in response to contract requirements being imposed on your customers.
  • Analyze the scope of liability that may be transferred to your customer under the laws of the state(s) in which the customer operates. This insight will strengthen your client relationships.
  • Answer tough insurance and indemnity questions posed by agents/brokers and insureds.

Claims Adjusters

  • Keep up with the latest changes to the ISO additional insured endorsements, including relevant caselaw development, and use the documented drafting history to make powerful arguments about the coverage intent.
  • Use the summaries of anti-indemnity statutes and state caselaw affecting hold harmless and indemnity provisions as a starting point for deciding whether to fight a request for indemnification by a noninsured.
  • Third-party support to your decisions and explanations will strengthen your client relationships.

Attorneys

  • Includes 1,058 case citations.
  • Keep up with the latest changes to the ISO additional insured endorsements, including relevant caselaw development, and use the documented drafting history to make powerful arguments about the coverage intent.
  • Use the model contract insurance requirements to draft precise and unambiguous insurance clauses using modern insurance terminology rather than archaic language copied from contracts written prior to the development of the standard insurance policy forms in use today.
  • Use the summaries of anti-indemnity statutes and state caselaw affecting hold harmless and indemnity provisions as a starting point for developing your legal arguments or in drafting rock solid contracts for your clients.

Consultants

  • Keep up with the latest changes to the ISO additional insured endorsements, including relevant caselaw development, and use the documented drafting history to make powerful arguments about the coverage intent.
  • Use the model contract insurance requirements to draft precise and unambiguous insurance clauses using modern insurance terminology rather than archaic language copied from contracts written prior to the development of the standard insurance policy forms in use today.
  • Detailed checklists cross-indexed to the discussions in Contractual Risk Transfer will help you expertly review contracts to identify problems or noncompliance issues.
Bonus Publication Icon

Your purchase of Contractual Risk Transfer comes with access to hundreds of ACORD forms that have been approved for use in all 50 states and are accepted by more than 1,000 companies. Using standard forms such as these increases efficiency in insurance transactions. This InfoBase includes all the ACORD forms in PDF files.

Bonus Publication Icon

You will also get a copy of the Contractor's Guide to OCIPs, a handy reference that provides guidance on 39 issues contractors should consider when accepting coverage through a wrap-up or controlled insurance program. This publication was prepared by the OCIP Task Force of the AGC of America.

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