Onerous contract wordings and their insurance implications

Onerous contract wordings and their insurance implications

Insurers and brokers are unable to advise clients concerning the legal implications of entering into various contracts however, certain terms may have implications for them concerning the adequacy off insurance coverage. There may be undertakings contained in contract wordings causing clients to assume liability where no insurance coverage for that assumption exists.

This session highlights situations where clients may be exposed and with reference to cases which highlight some difficulties in this respect.

Course duration: 1 hr

Medium: On-line

Who should attend?

The workshop is suitable for anyone who is involved in general commercial underwriting or broking.

Course Objectives

By the end of the session, attendees will:

•        Improved understanding of the client’s liabilities associated with key contracts

•        Able to identify key areas of risk in commercial contracts.

•        Be able to improve advice given to clients about contract risk

Course Content

·        The E&O position – no legal advice – only insurance

·        The importance of your customer seeking guidance regarding contract terms and indemnities

·        Obligations and indemnities often encountered and which classes of insurance may respond

·        Indemnities relating to responsibility for bodily injury, property damage and consequential loss

·        The impact of other clauses such a non-vitiation, joint names and composite insured parties.

There will be an opportunity to ask questions and provide observations at the end of the session.