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 when risk transfer fails. This topic will describe how to effectively transfer risk through commercial agreements and insurance policies. You will learn about the processes that need 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 correctly document risk transfer arrangements in commercial agreements and insurance policies far too often results in incurred costs for the defense of claims and loss payments -- even where the parties intended the risk to be transferred.
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Why Lorman?
Over 35 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 35 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
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- HI CLE 1.0
- NJ CLE 1.2
- NY CLE 1.0 including Areas of Professional Practice 1
- VT CLE 1.0
- WA CLE 1.0
- WV MCLE 1.2
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
OnDemand Course
This course was last revised on December 15, 2021.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.0
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 62 Minutes.
- NJ CLE 1.2
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.2
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Credit
More Program Information
Why Lorman?
Over 35 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
Barnes & Thornburg LLP
- Partner in the Insurance Recovery Group in Barnes & Thornburg LLP’s Chicago and Michigan offices
- 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
- Can be contacted at 312-214-8308 or [email protected]
Haley A. Hinton
Barnes & Thornburg LLP
- Associate in the Insurance Recovery Group of Barnes & Thornburg LLP in Chicago
- Represents manufacturers, national sports teams and leagues, and policyholders with claims related to mergers and acquisitions under representations and warranties policies
- Represents also companies with loss related to cybercrime under cyber liability coverage, long-tail environmental and toxic tort claims under general liability policies, including companies with loss related to COVID-19, natural disaster under first-party and business interruption insurance, and companies with loss under ocean cargo marine and storage policies
- Unique insurance experience
- Served as a legal and legislative intern at the Connecticut Department of Insurance
- Served also as an intern for a major insurer and as a summer associate at an insurance defense firm
Caroline M. Upton
Barnes & Thornburg LLP
- Of counsel in the Insurance Recovery Group in Barnes & Thornburg LLP’s Chicago Office
- Represents corporate policyholders at all stages of the insurance recovery process, from insurance counseling to coverage disputes and litigation
- Assists clients in a wide range of insurance coverage areas, including general liability and business risks, cargo and marine claims, first-party property and business interruption rise, product liability, Bermuda Form claims, and more
- Experience handling coverage disputes with major U.S., London and Bermuda market insurers, and in jurisdictions across the United States
- J.D. degree, University of Illinois College of Law; B.A. degree, Allegheny College
- Can be contacted at 312-214-8830 or [email protected]
Credit
More Program Information
Why Lorman?
Over 35 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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