Topic: A Risk Manager’s Guide to Contractual Risk Transfer

You’re the company risk manager and you receive a customer’s letter demanding indemnity for injuries to your employee at the customer’s plant. You learn that the customer is 100% responsible for the injuries. You review the fine print on the purchase order and realize that not only has your company agreed to indemnify the customer for its sole negligence, you’ve agreed to name the customer as an additional insured. Do you really have to indemnify the customer for its sole negligence? Do you have to indemnify the customer for injuries to your own employee? Doesn’t the customer’s insurance apply - and isn’t it primary? Who’s going to pay your retention? Can the customer access your excess policy?

These are just some of the topics we will address in this interactive discussion. Our panelists will differentiate between the contractual risk transfer methods of indemnifications and additional insured status, discuss sample indemnity and insurance clauses as well as relevant statutes and case law. You’ll also walk away with some very helpful tips/guidance on reviewing and drafting risk transfer provisions in contracts.

Program Speakers:

Joann Lytle, Esq., – Partner, Policyholder Insurance Coverage Group, McCarter & English, LLP

John Denton - Managing Director, National Casualty Practice, Marsh Inc.

Moderators:
Ken Bergmann - Sr. Insurance Manager - Sanofi US

Danielle Roth - Director, Risk Management - Verizon