CONTRACT MANAGEMENT: Effectively optimizing risk-transfer potential.

Contract language can be the difference between complete risk transfer and policy limit losses, when the language is both effective and ineffective. Having the right terms and conditions in your contract isn’t something you need to guess at—it’s simply way too important. 

As an NBIS policyholder, we will literally re-underwrite your contracts—this includes short-term contracts, long-term contracts, and work tickets—with the optimal language, giving you the absolute greatest amount of protection in the event of a loss. By giving you the legally preferred contractual language for each of your company’s contracts—in accordance with each state’s laws—we can effectively optimize your risk transfer potential, mitigate your losses, and help fight against rising insurance costs.

BENEFITS

  • Optimize risk-transfer potential 
  • Assess enforceability 
  • Mitigate losses
  • Protect against rising insurance costs 
  • Protect company assets 

 

KEY PROVISIONS

  • Indemnification clause
  • Insurance provision
  • Operation of equipment provision
  • ASME B30.5 responsibilities 
  • Conditions – ground, power line, rigging 
  • No reliance on load-measuring devices