What's Happening?
The article discusses the importance of evaluating contractual indemnity and additional insured obligations in policy limits demands. Proper analysis can lead to significant risk transfer from legally culpable parties to indemnitors and their insurers.
The framework provided aims to assist legal professionals in understanding and applying these obligations effectively, ensuring that extraordinary risk transfers are prevented or justified.
Why It's Important?
Understanding and applying contractual indemnity and additional insured obligations are crucial for legal professionals dealing with policy limits demands. These obligations can significantly impact risk exposure and liability, affecting insurers and indemnitors. Proper evaluation ensures that risk transfers are justified, preventing undue financial burdens on parties involved. Legal professionals and insurers stand to benefit from a clear framework that aids in navigating complex indemnity issues.
