Navigating Insurance Clauses in Commercial Contracts In-house Training

Course overview

This highly practical workshop is designed for professionals eager to deepen their understanding of commercial contracts, with a special focus on insurance clauses and policies. Learn how organisations can effectively mitigate risks by selecting the appropriate insurance policies.

Insurance policies are separate contracts but are closely related to commercial contracts in terms of risk management and compliance requirements. Understanding both types of contracts and how they relate to each other is crucial for managing business risks.

It is common practice to reference insurance policies within commercial contracts. A commercial contract may require one party to obtain and maintain specific types of insurance, for example, liability insurance, PI insurance, business continuity insurance, transit insurance, to name a few. Commercial contracts may outline the types of insurance required, minimum coverage required and the need to provide proof of insurance. 

Many managers seldom get the chance to thoroughly read insurance policies, and advising management without a solid grasp of these policies can be catastrophic for an organisation. This workshop will equip you with the knowledge to navigate and understand the intricacies of insurance within commercial contracts, ensuring you can provide informed and strategic advice.

Enhance your skills and become a more effective manager by understanding the risks to your business. Join the expert trainer to take your knowledge and expertise in commercial contracts to the next level.

"If you understand the risk to your business, you are a better manager." – Manoj Nair

This course is part of our Commercial Management training courses series which aims to help individuals gain confidence in a range of areas surrounding contract law, and broader business management knowledge.

Benefits of attending

By attending this course you will:

• Understand how insurance can be used to identify and mitigate risks
• Examine the concept of Subrogation and Waiver of Subrogation
• Learn about the terms and conditions of insurance contracts including exclusions
• Get to grips the meaning of deductibles in insurance (from a project perspective)
• Explore the impact of third party liability in contracts
• Consider the types of insurance in commercial contracts like CAR, CGL etc.
• Understand how PI insurance and other insurance types work

Who should attend?

This course has been specifically designed for:

• Commercial and contracts managers
• Purchasing and procurement managers
• Buyers and supply chain professionals
• Bid and tender personnel
• Project management professionals

Professionals from risk, finance, management and legal functions will also benefit greatly from attending this event.