In this Issue:
Tips for Transferring Risk Through Indemnity and Insurance Coverage
By Dennis J. Nolan
New Jersey entities should make contractual risk transfer a vital component of their business strategy. Managing risk should not simply involve assembling the right insurance portfolio at the best price. Contractually transferring risks to a business partner or subcontractor that is in a better position to control those risks is an often-overlooked, cost-efficient alternative that, when properly structured, offers sound legal and financial protection.
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Common Pitfalls of Certificates of Insurance and How to Best Address Them
By Kristen Hand
When entering into contracts with third-party vendors, contractors, or tenants, many companies require a certificate of insurance to verify that insurance coverage exists. However, these seemingly straightforward documents harbor numerous pitfalls that can leave the certificate holder exposed to significant risk. Below we discuss these limitations and how to proactively address them.
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