Liability policies respond when an insured is legally required to pay for certain damages or injuries. Legal liability is liability imposed by the courts on the person or entity responsible for the injury or damage suffered by another party or individual. Such legal obligations (or liability) can arise from intentional acts, unintentional acts or contracts (express or implied) and generally deals with civil wrongs rather than criminal wrongs.
In this session we detail legal liability and what is required for a person to be found legally liable. (There is a LOT more to legal liability than negligence.)
Understanding contractual risk transfer is a key requirement for staying out of trouble when you insure contractor risks. But even if you don't insure construction-type operations, you will be subject to contractual risk transfer language at some point, you can count on it.
In this session we succinctly answer seven contractual risk transfer FAQs:
An OCP is not equivalent to the CGL; its closest comparison is the coverage granted to only the additional insured when the CG 20 10 Additional Insured – Owners, Lessees or Contractors endorsement is attached to the CGL. But even coverage extended to the additional insured by the CG 20 10 is broader than the coverage offered by the OCP.
In this session we:
Understanding When You are Liable, What You Have Accepted, and Why You Aren’t Insured Outline (0.01 MB) | Available after Purchase |
Understanding When You are Liable, What You Have Accepted, and Why You Aren’t Insured Handout 1 of 2 (1.21 MB) | Available after Purchase |
Understanding When You are Liable, What You Have Accepted, and Why You Aren’t Insured Handout 2 of 2 (0.11 MB) | Available after Purchase |
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.
During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:
Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.
A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist