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Preparing for Contracts and Contractual Risk Transfer
Length: 2 Hours
Contractual risk transfer is an important method for managing risk. Proper contractual risk transfer effectively transfers the risk of loss and the cost associated with such risk to the party closest to and best able to control the loss. Additionally, properly written contracts set proper risk financing minimums to cover the costs of accepted risks. Developing proper contractual insurance requirements necessitates understanding the concepts surrounding contractual risk transfer.
Basic Course Information
Learning Objectives- The Purpose: What is Contractual Risk Transfer
- Where Insurance "Fits" into Contractual Risk Transfer
- Managing Contractual Risk Transfer
- "Ancient" Language We Still See
- Internal "Best Practices"
Major Subjects
- Why contractual risk transfer is necessary
- Why contractual risk transfer is fair
- How to review contractual insurance requirements
- What clients should push back against
Christopher Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, Independent Insurance Agents and Brokers of America Virtual University
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, president of Boggs Risk & Insurance Consulting (BRIC) with a focus on education, training, risk and claims consulting with insurance agents and insurance carriers, began the practice of insurance in 1990.
During his nearly three-and-a-half-decade insurance career, Boggs has authored over 2,000 insurance and risk management-related articles on a wide range of topics. Additionally, Boggs has written 15 insurance and risk management books including:
- "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," (now in its second edition);
- "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," (now in its third edition);
- "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
- "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
- "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
Boggs is a regular speaker at industry events, having taught or spoken nearly 1,000 times. This includes sessions for 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), the Chartered Property Casualty Underwriter (CPCU) Society and numerous independent insurance agent state association meetings. He has also earned numerous professional accolades including the 2017 Institute and Faculty of Actuaries (IFoA) Brian Hey Prize and the 2019 Casualty Actuarial Society (CAS) Charles A. Hachemeister Prize as part of a of professional collaboration with a diverse group of professionals.
His professional background includes work as a risk management consultant, loss control representative, insurance producer, claims manager, journalist and columnist, quality assurance specialist, and insurance coverage product manager.
Boggs earned a Bachelor of Science degree in journalism at Liberty University in Lynchburg, Virginia, and holds nine professional designations.
This course has no breaks
