Contracts have always been a very important part of the insurance industry. An insurance policy is a contract that you (business or individual) enter into with an insurance carrier. In business, insurance requirements are getting tougher and tougher. This is especially true in the Construction Industry, where contract language alone can be challenging in and of itself. I would like to point out a few of some of these terms that you might encounter.
Indemnification Agreements – These contracts are stipulating what parties you are indemnifying. Typically, these agreements flow downhill (meaning the General