Reviewing contracts for their insurance implications - 23 February 2022

Reviewing contracts for their insurance implications

This session is an excellent opportunity for delegates to better understand a service that is often requested by clients. The session explores the main issues typically found in contracts from both a broker and insurer viewpoint.

The session will cover:

• What advice brokers and insurers cannot/must not provide
• Types of contracts to be reviewed
• Key parts of the contract that need to be reviewed
• Responsibilities – does the contract increase the common law position, subrogation waivers, hold harmless?
• Indemnities – what does the client promise to pay? How does this match policy language and exclusions? Is there a quantum limit, contractual liability exclusions in many liability policies?
• Obligations/duties – checking with Insurers before making commitments, extra fees?
• Insurance – types of insurance and limits required, key clauses required e.g., Principal’s Clause
• Key issues to look out for that may be a problem