Your attorney reviews all of your contracts, customarily asking you to send the insurance portions to us for review. Our habit is to comment on each clause and section, advising our clients what is covered and what is not covered under their current policy. After 20 years of business we also have a good sense of what is reasonably asked of you under any contract and what conditions you may be able to negotiate away.
Your commercial insurance program probably does cover:
- Waiver of subrogation against your landlord (Your lease is usually covered under “Limited contractual” coverage)
- General Liability obligations under most contracts requiring standard limits (including Bodily Injury and Property Damage)
- Workers Compensation coverage for most contractual obligation language
- Most “Hold Harmless” clauses found in contracts
Your commercial insurance program probably does not cover:
- Intellectual property infringement indemnification
- Employee non-disclosure agreements
- Indemnification for your landlord’s contractors
- Most “any and all causes” clauses
- “Your insurer will honor all the terms of this contract” provisions
Always let your insurer know about those insurance related sections of contracts you sign.