In any contractual relationship, it’s important for the partiesinvolved to properly allocate their combined risks.

Contractual risk transfer identifies critical exposures andassigns responsibility for preventing and paying for losses — but it’s notalways an easy process. However, protecting your organization’sassets and bottom line is worth the effort.

A critical challenge

Managing contractual risk can be challenging, increasingly so asadditional insured status has been eroded over time. In 2013, forexample, ISO introduced new additional insured endorsements tocommercial general liability policies thatrestricted limits afforded to additional insureds to thosespecified in a contract. That has made the underlying contract —and the allocation of contractual risk — more important than everbefore.

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