This session provides a general overview of contractual risk transfer in construction contracts and subcontracts, with specific attention to those provisions that present risk and insurance implications for contractors. It reviews the structure of construction contracting relationships and the key provisions in which responsibilities and liabilities are allocated to the contracting parties, and suggests methods to equitably allocate these liabilities. It also examines processes for ensuring the effectiveness of contractual risk transfers, and identifies problems that may arise if contracts are not properly reviewed and their risks managed. This session is intended to prepare attendees for the CRIS Contractual Risk Transfer course exam.
Explain the scope of coverage provided under an owners and contractors protective liability insurance policy, as well as the advantages and disadvantages of this coverage
Identify recommendations and strategies for fairly and legally allocating contract risks based on where the entity falls in the construction "food chain."
Identify and provide advice on problematic construction contract provisions, and assist in the drafting or negotiation of contract insurance requirements.
Provide recommendations for obtaining and maintaining verification of compliance with contract insurance requirements.
Identify insurance requirements that may not be obtainable in the marketplace, and alternatives that may be acceptable to the contracting parties; identify gaps between a
Director of Risk Management,
Zachry Holdings, Inc.
You must be logged in and own this session in order to