CRIS: Contractual Risk Transfer in Construction (Richmond) 04/30/2020 POSTPONED

Description

This course—Contractual Risk Transfer in Construction—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.

Upon completion of this course, you will be prepared to:

• Identify key construction contract provisions that present risk management and insurance challenges for contractors.
• Understand commonly used contract risk allocation strategies.
• Explain the scope of allowable indemnification in construction contracts.
• Explain typical contract insurance requirements, challenges contractors have in complying with these requirements, and strategies for negotiating changes.
• Understand coverage for contractually assumed liabilities in standard insurance policies.
• Understand the scope of coverage for additional insureds under various editions of the standard CGL additional insured endorsements.
• Explain the importance of waivers of subrogation on various insurance policies.
• Understand the purpose and scope of owners and contractors protective liability and railroad protective liability insurance policies.
• Explain the value of certificates of insurance as a risk management tool.
• Identify methods for obtaining and maintaining compliance with contract insurance requirements.

Success tip: 

Get the book prior to the class, read through it, make notes, and jot down questions. This will enable you to use your time in class as a review and ask questions of the instructor, giving you additional preparation time and a better understanding of the content. Just select “Book Shipping” on the registration form and we’ll take care of the rest!

Course #219275 | 8 P&C | Instructor: Carlton Gill