Description
Effectively navigate and negotiate the waiver of subrogation provisions in your construction contracts.
Allocating and managing risk are two fundamental components of a construction contract and although the inclusion or exclusion of three words, waiver of subrogation, can dramatically change who may end up paying whom for what, few truly understand the meaning of a subrogation waiver, much less the implications of including one in your construction contract and how it might best be worded to best suit your particular project. This topic helps those who are responsible for drafting, negotiating, or administering construction contracts to understand the significance of an insurers subrogation rights, why you may or may not want the insurer to waive such rights, and how such a waiver might affect other project participants. The material discusses the various aspects of how such waivers work and waiver language commonly used in industry contracts. This topic will equip you with the information necessary to effectively navigate and negotiate the waiver of subrogation provisions in your construction contracts.
Date: 2024-06-11 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to review what subrogation is.
* You will be able to explain what a waiver of subrogation means to insurers.
* You will be able to identify the elements of a waiver of subrogation.
* You will be able to discuss how to enforce a subrogation waiver.