Contractual Risk, Insurance and Indemnities

In every organisation, care is taken to manage risks by seeking to eliminate those that can be removed and reducing and managing the remainder. Part of this process involves developing robust contracts which apportion risk equitably and include a structure of indemnities with contractors, supported by a comprehensive insurance regime. In addition, it is important that contract personnel understand contractual risks and what insurance can (and cannot) do to remove the financial consequences of such risk; remembering always that insurance only mitigates the effect of risk, it does not make the risk itself go away.

This Contractual Risk, Insurance and Indemnities training course is designed to:

• Provide an understanding of contract structures, and how and why contracts are drafted in particular ways
• Provide an understanding of some of the main clauses in different types of agreements
• Help participants to understand the meaning of insurance arrangements, and the terminology used
• Ensure participants appreciate the effect of insurance, and it limitations in the management of risk
• Explain how to use contract provisions to reduce the risk of disputes, and where disputes do arise, some of the methods by which disputes are resolved in international contracting

TRAINING OBJECTIVES

• To provide a more in depth understanding of the elements of a contract
• To understand how to analyse complex contact documents, and the inter-relationship between clauses
• To understand how to develop effective indemnity regimes
• To understand the different types and forms of indemnities in different contracts
• To understand how to use indemnities to manage risks
• To understand the limitations of indemnity clauses
• To understand how to link indemnity and insurance arrangements
• To understand what types of insurance are available in a contracting context
• To understand how to develop insurance clauses
• To be aware of the latest thinking in dispute resolution techniques