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Understanding the Basics of Contractual Risk Transfer

Understanding the Basics of Contractual Risk Transfer

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Learn the duties of each of the three parties involved in contractual risk transfer and how contractual risk transfer is defined.

$129.00

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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Christopher J. BoggsChristopher J. Boggs

"We will pay those sums that the insured becomes legally obligated to pay as damages because of 'bodily injury' or 'property damage' to which this insurance applies." So begins Coverage Part "A's" (Bodily Injury and Property Damage) insuring agreement in Insurance Services Office's (ISO's) commercial general liability (CGL) policy. But how does an insured become legally liable.

Legal obligation, or liability, can arise from intentional or unintentional torts (wrongs) and express or implied contracts; both are covered, in varying degrees, by the CGL. Of the two, contractually assumed liability may be the more difficult concept around which to design coverage or anticipate the breadth of protection offered by or available through the CGL.

Participants in this webinar will learn:

  • How Contractual Risk Transfer is defined.
  • The duties of each of the three parties involved in contractual risk transfer.
  • The three levels of contractual risk transfer.
  • How the unendorsed and endorsed CGL respond to contractual risk transfer.
$129.00
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