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Credits

Sponsored by Lorman Education
Product ID: 409508EAU
 
Credit & Course Provided by:

Harmonizing Risk Transfer and Insurance Policies Related to Construction Projects

OnDemand Webinar (62 minutes)

Learn how to effectively transfer risk and avoid potential pitfalls on your construction project.Every company involved in a construction project should evaluate risks and consider whether and how to transfer risks when entering into commercial arrangements with other companies engaged in the construction project. However, few fully understand the legal mechanics involved in effectively transferring risk and the potential pitfalls when risk transfer fails. This topic will describe how to effectively transfer risk through commercial agreements and insurance policies. You will learn about the processes that need to be followed to ensure all parties to such a transaction understand where the risk lies in the event of a loss. This topic will also explain how to establish effective loss control and claims submission strategies to mitigate risk and respond in the event of a claim. Failing to plan for and correctly document risk transfer arrangements in commercial agreements and insurance policies far too often results in incurred costs for the defense of claims and loss payments -- even where the parties intended the risk to be transferred.

Authors

Kevin B. Dreher, Barnes & Thornburg LLP
Haley A. Hinton, Barnes & Thornburg LLP Caroline M. Upton, Barnes & Thornburg LLP

Agenda

How to Transfer Risk Within Commercial Agreements Related to Construction Projects

• Utilizing Indemnity Agreements to Transfer Risk

• Utilizing Insurance Requirement Provisions to Transfer Risk

How to Transfer Risk Through Insurance Policies

• Transferring Risk to Additional Insureds via Vendor Endorsement, by Contract and Specific Endorsements

• Transferring Risk Through Supplementary Payment Provisions

How to Establish Effective Loss Control and Claims Submission Practices and Procedures

• How to Ensure Effective Harmonization of Risk Transfer Through Commercial Agreements and Insurance Policies

• Effectively Negotiating Risk Transfer Arrangements

• Establishing Loss Control and Claims Submission Strategies