A Sea Change For Risk Transfer

Law360, New York (April 8, 2013, 12:29 PM EDT) -- The Insurance Services Office Inc. (ISO) recently issued new and revised additional insured endorsements as part of its overall revisions to the standard commercial general liability policy. The now-effective revised forms could significantly change the landscape for risk transfer.

Many different types of business contracts routinely include indemnity provisions and insurance requirements. In a typical business contract, one party may be required to indemnify or otherwise protect the other party. In addition, the indemnitor may be required to obtain additional insured coverage for the indemnitee on...
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