The Basics of Contractual Risk Transfer, Additional Insureds and Certificates of Insurance
Tue, Feb 09, 2021 - 01:00pm to 04:46pm EST Wed, Feb 17, 2021 - 01:00pm to 04:46pm EST Thu, Feb 25, 2021 - 01:00pm to 04:46pm EST Tue, Mar 09, 2021 - 01:00pm to 04:46pm EST Wed, Mar 17, 2021 - 01:00pm to 04:46pm EDT Thu, Mar 25, 2021 - 01:00pm to 04:46pm EDT Tue, Apr 13, 2021 - 01:00pm to 04:46pm EDT Wed, Apr 21, 2021 - 01:00pm to 04:46pm EDT Thu, Apr 29, 2021 - 01:00pm to 04:46pm EDT Tue, May 11, 2021 - 01:00pm to 04:46pm EDT Wed, May 19, 2021 - 01:00pm to 04:46pm EDT Thu, May 27, 2021 - 01:00pm to 04:46pm EDT Tue, Jun 08, 2021 - 01:00pm to 04:46pm EDT Wed, Jun 16, 2021 - 01:00pm to 04:46pm EDT Thu, Jun 24, 2021 - 01:00pm to 04:46pm EDT Tue, Jul 13, 2021 - 01:00pm to 04:46pm EDT Wed, Jul 21, 2021 - 01:00pm to 04:46pm EDT Thu, Jul 29, 2021 - 01:00pm to 04:46pm EDT Tue, Aug 10, 2021 - 01:00pm to 04:46pm EDT Wed, Aug 18, 2021 - 01:00pm to 04:46pm EDT Thu, Aug 26, 2021 - 01:00pm to 04:46pm EDT Tue, Sep 14, 2021 - 01:00pm to 04:46pm EDT Wed, Sep 22, 2021 - 01:00pm to 04:46pm EDT Thu, Sep 30, 2021 - 01:00pm to 04:46pm EDT Tue, Oct 12, 2021 - 01:00pm to 04:46pm EDT Wed, Oct 20, 2021 - 01:00pm to 04:46pm EDT Thu, Oct 28, 2021 - 01:00pm to 04:46pm EDT Tue, Nov 02, 2021 - 01:00pm to 04:46pm EDT Wed, Nov 10, 2021 - 01:00pm to 04:46pm EST Thu, Nov 18, 2021 - 01:00pm to 04:46pm EST Tue, Dec 07, 2021 - 01:00pm to 04:46pm EST Wed, Dec 15, 2021 - 01:00pm to 04:46pm EST Thu, Dec 23, 2021 - 01:00pm to 04:46pm EST
$102.00 - Member Webcast $132.00 - Non-Member Webcast
Contractual risk transfer is a common risk management technique. The purpose is to push the responsibility for any injury or damage down to the party closest to and best able to control the operation or the outcome the person or entity doing the work. Upper tier contractors have the potential to be held vicariously liable for the actions of their subcontractors, so they use contractual risk transfer as one method for mitigating their exposure; that's just good risk management.
Beyond contractual risk transfer, upper tiers generally place specific insurance requirements on the lower tier (or downstream) contractor. One of these requirements is that the lower tier name the upper tier (the upstream contractor) as an Additional Insured on its policy. What affect does this have on the lower tier's coverage?
With all the contractual risk transfer and insurance requirements in place, the upper tier is going to ask for proof that the lower tier has complied with all the requirements by providing a Certificate of Insurance. The problem with certificates is all the weird and excessive wording sometimes requested or required. Should the agent comply with these requirements?
In this class we discuss:
The basics of contractual risk transfer; how it is accomplished and key provisions agents should look for and look out for;
How Additional Insured status affects the lower tier's policy and protection; and
The do's and don'ts of Certificates of Insurance.
The Basics of Contractual Risk Transfer Additional Insured Supplemental Information (0.22 MB) Available after Purchase
Sample Subcontract Agreement (0.40 MB) Available after Purchase
Contract Review Checklist (0.24 MB) Available after Purchase
MI - This course is approved for 4 hrs CE - Course# 78957
TN - This course is approved for 4 hrs CE - Course# 30272
NY - This course is approved for 4 hrs CE - Course#NYCR-258933
GA - This course is approved for 4 hrs CE - Course#54165
LA - This course is approved for 4 hrs CE - Course#30300
AR - This course is approved for 4 hrs CE - Course#6000077901