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Webcast

The Basics of Contractual Risk Transfer, Additional Insureds and Certificates of Insurance


Total Credits: 4 including 4 CE Credit


Dates



Description

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; and
  • The do’s and don’ts of Certificates of Insurance. 

Course Materials

Faculty

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS's Profile

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Related Seminars and Products


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:

  • "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," now in its second edition;
  • "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," now in its third edition;
  • "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
  • "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
  • "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
  • "Workers' Compensation: How You Can Effectively Answer Your Clients 12 Most Commonly Asked Questions;"
  • "Glossary of Insurance Terms;"
  • "Choosing the Best Risk Financing Option;"
  • "Writing Property and Liability Coverage for Condos;"
  • "The Truth about Enterprise Risk Management;"
  • "The Experience Mod Worksheet;"
  • "What has ISO Done to us Now?" and
  • "Cancellations, Non-Renewals & Conditional Renewals: THE Insurance Professional's Guide to Statutory Insurance Carrier Notification Requirements for All 50 States!"

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


Dates

Tue, Nov 19, 2024 - 01:00pm to 04:44pm MST
Fri, Dec 13, 2024 - 07:00am to 10:44am MST
Mon, Dec 23, 2024 - 09:00am to 12:44pm MST
Mon, Jan 06, 2025 - 01:00pm to 04:44pm MST
Wed, Jan 22, 2025 - 07:00am to 10:44am MST
Tue, Feb 11, 2025 - 10:00am to 01:44pm MST
Wed, Feb 19, 2025 - 01:00pm to 04:44pm MST
Tue, Mar 04, 2025 - 07:00am to 10:44am MST
Wed, Mar 19, 2025 - 10:00am to 01:44pm MDT
Thu, Apr 10, 2025 - 01:00pm to 04:44pm MDT
Tue, Apr 29, 2025 - 07:00am to 10:44am MDT
Mon, May 12, 2025 - 10:00am to 01:44pm MDT
Thu, May 29, 2025 - 01:00pm to 04:44pm MDT
Tue, Jun 10, 2025 - 07:00am to 10:44am MDT
Wed, Jun 25, 2025 - 10:00am to 01:44pm MDT
Mon, Jul 14, 2025 - 01:00pm to 04:44pm MDT
Wed, Jul 30, 2025 - 07:00am to 10:44am MDT
Mon, Aug 11, 2025 - 10:00am to 01:44pm MDT
Tue, Aug 26, 2025 - 01:00pm to 04:44pm MDT
Thu, Sep 11, 2025 - 07:00am to 10:44am MDT
Fri, Sep 26, 2025 - 10:00am to 01:44pm MDT
Fri, Oct 03, 2025 - 01:00pm to 04:44pm MDT
Tue, Oct 28, 2025 - 07:00am to 10:44am MDT
Tue, Nov 11, 2025 - 10:00am to 01:44pm MST
Mon, Nov 17, 2025 - 01:00pm to 04:44pm MST
Wed, Dec 10, 2025 - 07:00am to 10:44am MST
Mon, Dec 29, 2025 - 10:00am to 01:44pm MST

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Overall:      4.9

Total Reviews: 159