Today's construction executives and counsel must be knowledgeable about limitations of contractual indemnification and the strategic importance of risk transfer through insurance to ensure intended risk transfer on behalf of their construction clients. This program will examine the basic insurance requirements found in the typical construction contracts including limits, lines of coverage, duration of the obligation, additional insured and waiver of subrogation, as well as the details that distinguish successful insurance requirements from unsuccessful ones. We will also discuss upstream and downstream perspectives, where they differ on key terms, and what to expect when negotiating. The focus will center around real-world impact and examples. Audience interaction and participation will be highly encouraged.
Upon completion of this session, participants will be able to:
- Draft and negotiate indemnity provisions to effectively transfer risk.
- Identify which coverage lines are necessary.
- Draft and negotiate insurance requirements to ensure that insurance is in place to provide the expected coverage.