Risk Transfer
In today’s litigious society, companies rely on agreements with others to share the risk of doing business. Sometimes, these risk transfer devices are in the form of additional insured endorsements on insurance policies which give protection to a business partner to whom the primary insured is providing goods or services. Or, they may be contained in indemnity and hold-harmless clauses within commercial contracts, which specify which party will be responsible to pay financial damages in the event an adverse claim occurs. When adequate coverage is obtained, or a contract is well-written and proper insurance secured, the parties’ agreement to share liability is clear.
At Tharpe & Howell, LLP, our attorneys have extensive experience in helping businesses assess exposure and evaluate risk transfer options and then draft commercial agreements that ensure our clients’ contractual rights survive subsequent attack. When a disagreement does arise, we have the skills necessary to strategically negotiate the dispute and represent the client in litigation.
