In the context of commercial contracts, the parties may use a variety of devices to limit their risk of liability, either by sharing or transferring that risk to other parties involved in the contractual relationship. These complex commercial transactions often give rise to complex insurance coverage issues.
Presented by Lawline CLE, “Transfer and Division of Risk in Commercial Contracts” discusses some of the common risk transfer mechanisms used in commercial contracts and highlight the important considerations to keep in mind when pursuing insurance coverage.
The presenters focus specifically on joint ventures: how to ensure that a joint venture has proper insurance coverage, and how to avoid falling victim to common policy exclusions for joint venture liabilities.
The course covers indemnity clauses and insurance requirements commonly used in contractor agreements, and how to navigate potential roadblocks to coverage such as anti-indemnity statutes and exclusions for liability assumed in contracts. It also discusses additional insured status and the limitations to consider when seeking coverage as an additional insured under the insurance of another. The program highlights several examples from the case law, as well as sample insurance policy language.