Contractual Risk Transfer

Resource At-A-Glance

Assure Your Contracts Include the Proper Protection

Authors: Patrick J. Wielinski, W. Jeffrey Woodward, and
Jack P. Gibson
Regularly Updated: Since 1995
See the Table of Contents
Includes: Executive Briefings and several Bonus Publications

Description

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 assure 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.

Features and Benefits to You

Select a Job Function (click the arrows to the left)

more info 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 assure 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.

more info 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.

more info 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.

more info 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.

more info 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.

more info 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.

Risk Management Tips

Could you use a crystal ball for risk management? Although IRMI does not offer one for sale, we do provide valuable tips, tactics, and strategies for risk management and insurance professionals.

IRMI Construction Risk Manager

News, Tips, and Tactics for Construction Risk & Insurance Pros

IRMI Construction Risk Manager is a free monthly e-mail newsletter providing risk management and insurance tips and news items pertaining to legal, insurance and construction industry issues for those in, and those serving, the construction industry.

If you buy, sell, underwrite, or litigate construction insurance or manage construction risks, this newsletter will become an essential part of your tool belt.

Free whitepaper: Effective Contractual Risk Transfer in ConstructionGet a free whitepaper—Effective Contractual Risk Transfer in Construction—when you sign up for IRMI Construction Risk Manager.


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