Insurance, Indemnity and Contribution: The Complex Interplay in Commercial Transactions

Description

Indemnification agreements are widely used to shift risk in a variety of commercial transactions. Counsel must understand the impact of indemnity agreements on insurance—who is ultimately responsible for the claim and when and how is this responsibility shared?

Coverage disputes often arise in reconciling indemnity agreements and insurance policies. Other insurance clauses and exclusions for liabilities assumed by contract provide ample grounds for disputes and litigation.

The indemnitor must negotiate contractual provisions that limit the scope of the indemnification. The party seeking indemnification must negotiate provisions that address the indemnitee’s negligence, additional insured status, and scope of defense.

Listen as our authoritative panel of insurance attorneys discusses the law of contribution and indemnity and how to reconcile contractual indemnity language with insurance policy provisions. The panel will offer best practices for drafting contractual indemnification provisions.

Outline

1. Contribution and Indemnification
   1. Contribution — comparative fault, statutory contribution, effect of settlement
   2. Indemnity — contractual, implied, imposed by law
   3. Contractual indemnification — limitations, duty to defend, right to independent counsel, additional insured provisions
2. Reconciling indemnity obligations and insurance policies
   1. Other insurance clauses
   2. Exclusion for liability assumed by contract
3. Evaluating and drafting indemnity provisions
   1. Indemnitor perspective
   2. Indemnitee perspective

Benefits

The panel will review these and other key questions:

• What are the parameters of statutory and common law indemnity and how can parties alter these obligations contractually?
• What are common types of "other insurance clauses" and how do they interact?
• How can counsel craft effective contractual indemnification provisions that protect the clients — whether the indemnitor or indemnitee?

Webinar/Teleconference

Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

CLE Credit

Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.

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