To find a list of participating states who sell this program, go here.
Total Credits: 4 including 4 CE Credit
Audience: Professional/Personal Development
Contractual risk transfer is a common risk management technique. The purpose is to push the responsibility for any injury or damage down to the party closest to and best able to control the operation or the outcome the person or entity doing the work. Upper tier contractors have the potential to be held vicariously liable for the actions of their subcontractors, so they use contractual risk transfer as one method for mitigating their exposure; that’s just good risk management.
Beyond contractual risk transfer, upper tiers generally place specific insurance requirements on the lower tier (or downstream) contractor. One of these requirements is that the lower tier name the upper tier (the upstream contractor) as an Additional Insured on its policy. What affect does this have on the lower tier’s coverage?
With all the contractual risk transfer and insurance requirements in place, the upper tier is going to ask for proof that the lower tier has complied with all the requirements by providing a Certificate of Insurance. The problem with certificates is all the weird and excessive wording sometimes requested or required. Should the agent comply with these requirements?
In this class we discuss:
Course Slides (2.16 MB) | Available after Purchase |
The Basics of Contractual Risk Transfer Additional Insured Supplemental Information (0.22 MB) | Available after Purchase |
Sample Subcontract Agreement (0.40 MB) | Available after Purchase |
Contract Review Checklist (0.24 MB) | Available after Purchase |
Course Outine (0.04 MB) | Available after Purchase |
IABNY Agents - You must open this file to read the NYS mandatory CE announcements. (0.21 MB) | Available after Purchase |
PLEASE READ - IMPORTANT CE INFORMATION AND STATE REQUIRED FORMS (ABEN) (0.59 MB) | Available after Purchase |
Joint and Several States Resource doc (202 KB) | Available after Purchase |
Q&A (14.3 KB) | Available after Purchase |
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.
During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:
Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.
A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist
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KS - This course is approved for 4 hrs CE - Course# 6000015094
Note - KAIA will file your earned CE electronically within 10 business day after course completions
MI - This course is approved for 4 hrs CE - Course# 78957
TN - This course is approved for 4 hrs CE - Course# 30272
NY - This course is approved for 4 hrs CE - Course#NYCR-258933
GA - This course is approved for 4 hrs CE - Course#54165
LA - This course is approved for 4 hrs CE - Course#30300
NE - This course is approved for 4 hrs CE - Course# 38373
UT - This course is approved for 4 hrs CE - Course#35852
NJ - This course is approved for 4 hrs CE - Course#88900360
MT - This course is approved for 4 hrs CE - Course#6000031947
ME - This course is approved for 4 hrs CE - Course#25736
WV - This course is approved for 4 hrs CE - Course# 106481
IL - This course is approved for 4 hrs CE - Course#6000028617
IN - This course is approved for 4 hrs CE - Course# 37516
AZ - This course is approved for 4 hrs CE - Course# 105804
MD - This course is approved for 4 hrs CE - Course#106863
AR - This course is approved for 4 hrs CE - Course#6000077901
NV - This course is approved for 4 hrs CE - Course# 24354
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