Do you have multiple insurance policies covering the same risk?
Ultimately that is a cost to the project which will be borne by one or more of the parties. A subrogation waiver in a construction contract, which requires the parties to waive their right to claim damages against one another up to the amount of insurance coverage available for their losses, is a risk?shifting provision premised upon the recognition that it is economically inefficient for parties to a contract to insure against the same risk. This video reviews what a waiver of subrogation means to the insurer and to the insured.
Agenda
Faculty
Clark T. Thiel, Esq., AIA
Pillsbury Winthrop Shaw Pittman LLP
- Partner with the law firm Pillsbury Winthrop Shaw Pittman LLP and chair of its construction practice group and member of the firm’s Insurance Recovery & Advisory practice, named by Law360 as a practice group of the year in 2015 and 2016
- Registered architect in multiple states, licensed contractor in California
- Advises and represents owners, developers, and contractors in the drafting and negotiation of design, construction and insurance agreements, and compliance with jurisdictional requirements for the performance of construction and design services
- Provides advice and counselling with regard to troubled projects in the areas of cost overruns, delay and acceleration claims, construction defects, design liability, and insurance recovery
- Represents public and private owners, developers, design professionals, general contractors and subcontractors in the resolution of disputes through litigation, arbitration and mediation
- Can be contacted at 415-983-1031 or [email protected]
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