Risk transfer – whether transferring risk to a company or away from it — is part of virtually every business transaction. Understanding the mechanisms that effectively transfer risk and what can be done to protect a business from those risks it retains, is a key set of skills for every risk manager.

Using a role-playing exercise involving two contracting parties and an insurance company, we will examine how to 1) assess appropriate risks to transfer; 2) spot red flags in risk transfer contracts; 3) weigh the advantages and disadvantages of being named as an additional insured; 4) assess the adequacy of the other party’s insurance; 5) draft a basic indemnity agreement that maximizes enforceability; 6) apply alternative contract language to ensure appropriate risk transfer; 7) document and pursue insurance claims to minimize loss exposure; and 8) develop subrogation strategies.

Attendees will learn how to:

1. assess appropriate risks to transfer;
2. spot red flags in risk transfer contracts;
3. weigh the advantages and disadvantages of being named as an additional insured