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ABEN Contractual Risk Transfer, Add Insureds and Cert of Ins

ABEN Contractual Risk Transfer, Add Insureds and Cert of Ins

Instructor Christopher Boggs
4 CE (PC,BR,C3,PA) NYCR-258933

Session 5
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:

  • The basics of contractual risk transfer; how it is accomplished and key provisions agents should look for and look out for
  • How Additional Insured status affects the lower tier’s policy and protection
  • The do’s and don’ts of Certificates of Insurance

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Additional Questions and Support
You can find commonly asked questions at ABEN Support.

Completion of this course qualifies you for the new 1 CE Laws & Regulation credit mandated by the New York State Department of Financial Services.

For Commercial Lines Agency Staff

Big I NY Members: $112 per person
Non-Members: $160 per person

Please note, you will register on the ABEN website with a separate ABEN login and password

Register Now (You will be leaving the Big I New York website) 

Questions? Contact ABEN at or 877-602-9877

Per the New York Department of Financial Services, you cannot receive CE credit for any course previously used for your license renewal (based on the course approval number).
Per the Connecticut Insurance Department, a course can be taken for CE one time in the current license period.  It may be taken again in a subsequent license period.

6/4/2024 9:00 AM - 1:00 PM
Online-at Your Desk
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