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Releases and Indemnities (Shields and Swords)

Mar 26, 1998 | Article 

Written by Dennis Daoust
(ICSC- Canadian Law Conference 1998)

A risk manager has three basic goals:

  1. the transfer of risk in contracts such as leases, purchase orders, cleaning and maintenance, and other contracts, and in other contractual dealings with other parties with which the company does business
  2. purchasing and administering insurance for risk that can not be transferred
  3. prevention of loss through safety programs

This paper deals with the weapons that are used to accomplish the first of these goals. Contractual prior releases and indemnities are the shields and swords that the risk manager uses to reduce insurance costs, repair and replacement costs, legal liability costs, and the indirect costs associated with disruption due to litigation.

Read the full article Releases and Indemnities (Shields and Swords)

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