Contractual Risk Transfer

Cyber Risk Transfer: Can you transfer your cyber / privacy risk contractually?

March 8, 2019 / by KMRD Partners / Blog, From Brian's Desk, Insurance Coverage / 0 comments

With the advent of more frequent privacy breaches, sophisticated companies are trying to push risk contractually to their vendors and even their clients. Reading a cloud hosting contract or other cloud software platform agreement, this cyber risk transfer trend is evident. Questions about cyber risk transfer which need answers – 1 – Can organizations obtain additional […]

Important Insurance Related Provisions within Commercial Contracts

August 30, 2018 / by KMRD Partners / Blog, From Bob Dietzel's Desk / 0 comments

Your insurance professional should review the insurance provisions in your contracts prior to signing the documents. Why? Because the insurance-related risks are not always obvious and may result in a costly uninsured surprise. Well-negotiated contracts can be the least expensive and most effective way to mitigate or transfer risks. However, contracts with customers, suppliers, and […]

15 Construction Insurance Considerations to Help Manage Contractor Risk

August 22, 2017 / by KMRD Partners / Blog, From Bob Dietzel's Desk / 0 comments

Contractors should expect much more from their insurance brokers than to simply negotiate pricing and terms and conditions for their construction insurance programs. Safety, claims management, contractual risk transfer support, bid and accrual support, loss sensitive adjustment forecasting, construction defect allegation strategies and more are all important elements of a successful risk management program. Unfortunately, brokers […]

6 Critical Insurance Provisions in Commercial Leases

July 17, 2017 / by KMRD Partners / Blog, From Bob Dietzel's Desk / 0 comments

Make sure to allow your insurance professional to review the insurance provisions in commercial leases prior to signing the documents. Why? Because the insurance-related risks are not always obvious and might result in a costly uninsured surprise. Commercial lease agreements can be complex and time consuming to negotiate. Business owners often fail to consult with their P&C […]

Hall of Shame – Injury to Independent Contractors Exclusion Creates Severe Coverage Gap

July 27, 2014 / by KMRD Partners / Coverage Hall of Shame, Insurance Coverage / 0 comments

This exclusion removes coverage for any work done by an independent contractor: Here is an outline of an everyday exposure for a typical (ABC) company that utilizes subcontractors (as you know, there are not many companies who do not use a subcontractor in some capacity): This exclusion removes coverage for any claims arising out of […]

Temp Service Agency Risk & Insurance Issues – Part 2

December 4, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments

At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready? Following are additional risk and insurance considerations that can come from hiring temp workers: Auto – Auto risks are not just limited to a temporary employee driving on an organization’s behalf, but […]

Temp Service Agency Risk & Insurance Issues – Part 1 of 2

November 20, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments

To prevent one minute from normal from arriving next time your organization hires a temporary worker, please contact your KMRD Partners relationship manager to review these and other risk and insurance considerations: General Liability – Your General Liability will apply if a temporary employee sues your company. Loss experience can be protected by obtaining an […]

The Importance of Contracts

June 13, 2013 / by KMRD Partners / Announcements, One Minute From Normal Series / 0 comments

Bob Dietzel, co-founder and Managing Partner of KMRD Partners, recently spoke to the Philadelphia Chapter of the National Contract Management Association (“NCMA”) about the importance of contracts in transferring risk, claims and insurance coverage. “Contracts are a critical component of a risk management strategy. A well-written contract is the least expensive way to transfer risk. […]

Bob Dietzel spoke to the National Contract Management Association on Insurance and Contracts

May 29, 2013 / by KMRD Partners / Announcements / 0 comments

Bob Dietzel, co-founder and Managing Partner of KMRD Partners spoke to the Philadelphia Chapter of the National Contract Management Association (NCMA ) about the importance of contracts in transferring risk, claims and insurance coverage. “Contracts are a critical component of a risk management strategy! A well written contract is the least expensive way to transfer […]

Construction Workplace Misclassification Act – More Hurdles to Overcome When Using Subcontractors – THE GREY AREA IS NOW GONE!

February 2, 2011 / by KMRD Partners / One Minute From Normal Series / 0 comments

KMRD Are You Ready for One Minute From Normal?

Effective February 11, 2011, the Construction Workplace Misclassification Act in Pennsylvania strictly regulates the use of individuals as independent contractors in the construction industry. If any worker who does not meet all of the following criteria is misclassified as an independent contractor, the hiring party business, and its officers and agents, may be civilly liable, […]