The structure of construction contracting relationships and the key provisions in which responsibilities and liabilities are allocated to the contracting parties and suggests methods to equitably allocate these liabilities are integral parts of construction contracts.  This course provides a general overview of contractual risk transfer in construction contracts and subcontracts and examines processes for ensuring the effectiveness of contractual risk transfers and identifies problems that may arise if contracts are not properly reviewed and their risks managed.

Upon completion, students will be able to:

• select suitable recommendations and strategies for fairly and legally allocating contract risks based on where the entity falls in the construction “food chain”
• identify problematic construction contract provisions, and propose appropriate recommendations in the drafting or negotiation of contract insurance requirements;
• identify insurance requirements that may not be obtainable in the marketplace and alternatives that may be acceptable to the contracting parties, identify gaps between a contractor’s contractually assumed liabilities and its contractual liability insurance coverage, and assist in obtaining compliance with additional insured coverage requirements;
• identify the scope of coverage provided under an owners and contractors protective (OCP) liability insurance policy, and list its advantages and disadvantages as a risk funding alternative

Property and casualty risk, safety, insurance, and finance professionals