1. . www.InsuranceCommunityUniversity.com Introduction  This class is not designed to discuss and apply contract clauses that impact insurance contracts  Will focus on the requirements to add another party to your client’s insurance program  Contracts and agreements are normal in business and are a constant challenge 1

2. . www.InsuranceCommunityUniversity.com Introduction  The client agrees to indemnify and hold harmless the other contract parties  The client generally agrees to provide a waiver of subrogation for the other parties  The client agrees to provide additional insured status for the other parties 2

3. . www.InsuranceCommunityUniversity.com Introduction  The client agrees that their insurance coverages will be primary and in some instances non-contributory  These are typical issues to manage for clients – be prepared to do so 3

4. . www.InsuranceCommunityUniversity.com Waiver of Subrogation Requirements Definition of subrogation and waiver 4

5. . www.InsuranceCommunityUniversity.com Subrogation:  The assignment to an insurer by terms of the policy or by law, after payment of a loss, of the rights of the insured to recover the amount of the loss from one legally liable for it. 5

6. . www.InsuranceCommunityUniversity.com CGL Form Language - CG 00 01 Conditions 8. Transfer Of Rights Of Recovery Against Others To Us If the insured has rights to recover all or part of any payment we have made under this Coverage Part, those rights are transferred to us. The insured must do nothing after loss to impair them. At our request, the insured will bring “suit” or transfer those rights to us and help us enforce them 6

7. . www.InsuranceCommunityUniversity.com CGL Waiver of Subrogation Endorsement – CG 24 04  Only applies to named party  Only applies to payment for injury or damage arising out of ongoing operations or “your work”  Does not apply to “products” 7

8. . www.InsuranceCommunityUniversity.com Waiver of Transfer of Rights of Recovery Against Others To Us - CG 24 04 We waive any right of recovery we may have against the person or organization shown in the Schedule above because of payments we make for injury or damage arising out of your ongoing operations or "your work" done under a contract with that person or organization and included in the "products-completed operations hazard". This waiver applies only to the person or organization shown in the Schedule above. 8