BUSINESS CONTRACT REVIEW & ANALYSIS
Managing the Commercial Insurance Implications of Legal Agreements
Many corporations fail to understand that contracts are legal agreements that involve the transfer or assumption of risk and liabilities, therefore they inherently have insurance implications that must be reviewed in order to protect a company from legal action.
Binding agreements, such as purchase orders, leases, employment contracts, sales agreements, and warranties, can impose financial and legal consequences if either party breaches the terms. Contractual risk transfer clauses are one mechanism to manage these risks and consequences. But when this is not adequate, an organization’s insurance program can provide another layer of protection.
When conducted by a commercial insurance consultant, business contract review and analysis ensures that your company’s contracts and insurance policies are in compliance.
Elements of a Commercial Contract Review & Analysis
A thorough analysis of vendor agreements, management agreements, non-disclosure agreements, leases, licensing agreements and other types of contracts by an insurance professional identifies areas where your company may be vulnerable.
MB Davis Group’s team of commercial insurance consultants will review your contracts and help you negotiate all agreements to properly manage your insurance implications and risk. This contract analysis will:
- Evaluate your commercial insurance policies for compliance with your contractual requirements
- Review the counterparty’s insurance documentation to verify compliance with its obligations
- Support and assist with the risk transfer and insurance aspects of contract negotiations
- Coordinate and prepare for commercial insurance carrier negotiations
Start Your Contract Analysis with MB Davis Group
The team at MB Davis Group provides commercial insurance consulting solutions that are tailored to your industry. To schedule a comprehensive contract review or to learn about MB Davis Group’s services, complete this contact form or call 973.770.6700.