Brokers are often asked to comment on the insurance implications of commercial contracts by customers. This can be difficult as they are insurance advisors not legal advisors but it is still useful to have a good understanding of the risk and insurance implications of commercial contracts. In this one day course (through a series of case studies) we examine various commercial contracts and discuss and analyse their risk and insurance implications.
What you will learn
At the end of the course you will be able to:
- Understand different types of commercial contract
- Identify the relevant portions of a commercial contract that impact the client's exposures and insurance requirements
- Outline the impact of indemnity, hold harmless and waiver of subrogation clauses
- Advise insured whether they currently purchase the insurances required by the contract
Advise insurers appropriately of the contractual arrangements
Draft and complete "To whom it may concern" letters and contractors' questionnaires appropriately
Explain to customers why all contractual liabilities are not covered by insurance.