The IRMI Construction Risk Conference (CRC) brings nearly 2,000 leading project owners, general contractors, subcontractors, developers, insurers, and insurance agents and brokers together. There is no better forum to learn the latest construction risk management and insurance trends, strategies, and tactics as well as network with leaders in the industry.
Construction contracts include numerous insurance requirements that support the risk allocations in the contract. Standard contract insurance requirements are a starting point, but many contracts include addenda that modify these provisions. This program will examine samples of actual insurance requirements found in construction contracts, including limits, lines of coverage, duration of the obligation, additional insured, and waiver of subrogation, and discuss their impact on the project. Both upstream and downstream perspectives on key terms will be examined along with what to expect when negotiating. Learn what distinguishes successful insurance requirements from unsuccessful ones.
Often, insureds, brokers, and excess underwriters mistakenly believe that an excess follow form policy automatically follows all terms of the underlying policy. Where excess follow form coverage forms include terms – for example, other insurance/subrogation conditions – that supersede the underlying policy’s terms, the excess policy needs to be separately endorsed to operate as intended. This session will provide a clearer understanding of when excess policies truly follow form, when they do not, and strategies for ensuring that this important coverage operates as intended.
Tuesday, November 6
Risky Business - An Overview of Practical Cotractual Risk Transfer - Tracy Alan Saxe
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