Contract and Tender Documents – Indemnity and Insurance Clauses
We review contracts and tender documents for our clients to identify the risks you are assuming under contract. We will then assist you to understand which of these risks are insurable and which are not. It is extremely important that our clients understand which risks are uninsurable so that you can take the appropriate action (i.e. change the contract, manage your internal processes and/or charge appropriately for the uninsured risk assumed) to protect your business. Our reviews don’t only involve an audit of existing contracts, but can include training of key staff and assistance with the drafting of contract variations.
Risk Profiling involves the identification and quantification of business risks. ABB Insurance Broker makes sure that a company’s risks are identified before any insurance program is proposed.
We look at operational risks, concentrating on insurable risks by categorizing the client’s operational risks by Assets, Liabilities, People and Revenue. We also conduct a full analysis of business risks performed in accordance with National and International Risk Management Standards.
Once a client’s risk profile has been prepared ABB Insurance Broker will suggest risk management strategies that can be used to mitigate unacceptable risks.