Contractual Risk Management

Contracts often define the liabilities and exposures that our policy holders assume in their business. With guidance from Towerstone’s contractual risk management team, our insureds are better equipped to understand complex contract language and minimize the overall risk to their business. Our contractual risk advisors are well-versed in contractual risk transfer methods as well as restrictions that may apply within certain industries and regions. Towerstone’s review of contracts is always specifically focused on the potential impact to the client’s insurance program.

The Towerstone Difference

  • Indemnity agreements
  • Master Service Agreements
  • Subcontracts
  • Joint Operating Agreements
  • Property Leases
  • Purchase Agreements/Orders
  • Additional insured endorsements
  • Waivers of subrogation
  • Waivers of consequential damages

We may review contracts to provide advice as it applies to insurance and surety requirements. Contracts are legal and binding documents and we recommend that you have any contract reviewed by your legal counsel. The views and statements expressed herein are not to be construed as legal advice from Towerstone and such communication is not protected under the attorney-client privilege. Towerstone is not responsible for reviewing any provisions of documents not provided to us. Our agency is not undertaking to identify all potential liability that may arise under this contract and nothing in the review should be construed as promising insurance coverage for any specific claims or circumstances. Please note that certain conditions may not be included in your coverage, including specially rated zones, close proximity to railroads or near navigable waterways. Any changes to the information initially provided for this review may impact the availability or pricing of coverage. Any descriptions of the insurance coverages are subject to the terms, conditions, limitations, exclusions, and other provisions of the policies and any applicable regulations, rating rules or plans.