- Posted by: Admin
- Category: Claims Management
Are you risking your business and personal assets without even being aware?
Many of our clients are regularly asked to sign contracts with indemnities, warranties and other problem clauses. How much do you know about increasing your exposure by contractual liability and the IMPACT it can have on your insurance policies and even your assets?
Contractual liability issues are usually very complex and can affect a broad range of professions and policy types. To reduce the risk that this issue can pose to your business and personal assets, talk to us. This applies to tenancy agreements through to large commercial contracts (for example, supply contracts or construction contracts).
Not understanding the issues in this area can have considerable consequences for your own business and your insurance policies – cover could be reduced or worse, excluded.
Remember, don’t sign ANY CONTRACTS without checking with us first to determine if your insurance program should cover the additional liabilities that you are likely to assume by signing – or if you are able to obtain additional cover in the market for these liabilities.
As your insurance broker, we are able to advise on the insurance coverage that you have. We can also arrange for a specialist third party to complete any necessary legal reviews— which are outside our area of expertise.
You should be aware that in some cases it is not commercially possible to obtain insurance cover for some of the more onerous clauses that can often be included in contracts.
Be aware BEFORE you sign