How much do you know about contractual liability and the impact it can have on your insurance policies and even your assets. Contractual liability issues are usually very complex and can affect a broad range of professions and policy types. This applies to tenancy agreements through to large commercial contracts (for example supply contracts or civil contracts). Not understanding the issues in this area can have considerable consequences for your own business and your insurance policies.
Remember – don’t sign any contracts without checking with us first to determine if your insurance program will cover the additional liabilities that you are likely to assume by signing – or if you are able to obtain additional cover in the market for these liabilities. At AIC Insurance Brokers we are able to advise on the insurance coverage that you have. We can also arrange for a specialist third party to complete any necessary legal reviews— which are outside our area of expertise. You should be aware that in some cases it is not commercially possible to obtain insurance cover for some of the more onerous clauses that can often be included in contracts.

Services available include:

  • Insurance advice – We can provide expert insurance advice to assist with contracts
  • Contractual liability tip sheets & handy tips
  • Contractual liability experts – we have access to a helpline to analyse your insurance/contract issues
  • Contract review service – detailed legal review/renegotiation of the insurance clauses within your contracts

So be aware before you sign.