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Harmonizing Risk Transfer in Commercial Agreements and Insurance Policies Related to Construction Projects

Learn how to effectively transfer risk and avoid potential pitfalls on your construction project.

Every company involved in a construction project should evaluate risks and consider whether and how to transfer risks when entering into commercial arrangements with other companies engaged in the construction project. However, few fully understand the legal mechanics involved in effectively transferring risk and the potential pitfalls incurred when risk transfer fails. This topic will describe how to effectively transfer risk through commercial agreements and insurance policies and the process that needs to be followed to ensure all parties to such a transaction understand where the risk lies in the event of a loss. This topic will also explain how to establish effective loss control and claims submission strategies to mitigate risk and respond in the event of a claim. Failing to plan for and properly document risk transfer arrangements in commercial agreements and insurance policies far too often results in a costs being incurred for defense of claims and loss payments even where the parties intended the risk to be transferred.

Runtime: 90 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

How to Transfer Risk Within Commercial Agreements Related to Construction Projects

  • Utilizing Indemnity Agreements to Transfer Risk
  • Utilizing Insurance Requirement Provisions to Transfer Risk

How to Transfer Risk Through Insurance Policies

  • Transferring Risk to Additional Insureds via Vendor Endorsement, by Contract and Specific Endorsements
  • Transferring Risk Through Supplementary Payment Provisions

How to Establish Effective Loss Control and Claims Submission Practices and Procedures

  • How to Ensure Effective Harmonization of Risk Transfer Through Commercial Agreements and Insurance Policies
  • Effectively Negotiating Risk Transfer Arrangements
  • Establishing Loss Control and Claims Submission Strategies
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on December 10, 2015.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kevin B. Dreher

Kevin B. Dreher

Reed Smith LLP

  • Partner in the Insurance Recovery Group in Reed Smith LLP’s Chicago office
  • Practice focuses on commercial litigation with an emphasis on representing policyholders in complex litigation and insurance disputes
  • Insurance coverage practice is nationwide and has involved litigation in jurisdictions throughout the United States
  • Significant experience representing and counseling Fortune 500 companies in a variety of complex commercial litigation and insurance matters
  • Handled disputes in negotiation and litigation with all major U.S. insurers, and London and Bermuda market insurers
  • Writes and speaks frequently on insurance coverage and other topics and recognized as a Rising Star in Litigation
  • J.D. degree, University of Illinois College; M.A. degree, Loyola University in Chicago; B.A. degree, University of Michigan
  • Can be contacted at 312-207-2778 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 396229
Published 2015
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