contractual liability

No topic gets more attention at our office than Risk Transfer /.Additional Insured Provisions / Waivers of Subrogation etc.We've written on here alot about the topic and there are a lot of other good resources on the internet. Some of our blogs on the topics of Additional Insureds and Waiver of Subrogation can be found here:

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There is an old adage that goes like this: "A Man is only as Good as his word".It implies that the integrity of a man or woman is the most important thing in a relationship.It also implies that if the other party has integrity having 'his word' is probably enough and also implies that there is no need for a formal contract.That relationship can be personal, professional, peer-to-peer, buyer-seller, etc. and can often involve parties that have different levels of control over a situation.A decade or two ago no one knew what a 'pre-nup' was; warning labels on consumer products were much simpler; local attorneys didn't advertise on TV; and there seemed to be more trust in both people and systems.Those days are gone and may never return.One by-product of this is contracts are everywhere - from EULA agreements that dictate internet terms to the small print on the back of your garbage service 'contract' to signs posted everywhere declaring 'Not Responsible for Damage or Loss'... it's hard to go through an hour of a day without having to check "I AGREE" on some document somewhere.

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We're not Attorneys and we know that; however, we are often called on to review contracts from our clients and their vendors and we are glad to do that from a Risk Management and Insurance perspective.One of the areas that comes up all the time (and more frequently these days) is Hold Harmless Agreements or Indemnity Agreements.

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Risk management is the process of identifying, assessing, and controlling risks to an organization. It is important for businesses of all sizes to have a risk management plan in place to protect themselves from financial losses.
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