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Protecting Your Business with Contractual Risk Transfer

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Manage episode 354379208 series 1614268
Content provided by Middle Market Growth and Middle Market Growth Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Middle Market Growth and Middle Market Growth Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future. *** Insurance coverage is the most basic form of risk transfer and protects businesses from risks under their direct management and control. However, a business can gain additional layers of protection through contractual risk transfer, in which the business shifts liability for loss to another party. QBE North America’s Tom Lysaught, senior vice president, head of property and casualty claims, and Bobby Steinsdoerfer, senior vice president, retail property and casualty underwriting, join the podcast to discuss the benefits of an effective contractual risk transfer strategy. They detail the varying levels of contractual risk transfer and how to implement an effective contractual risk transfer program. From poorly written contracts to inadequate contract management or handshake agreements, Lysaught and Steinsdoerfer share examples and detail common mistakes that can prevent a business from transferring risk appropriately—potentially resulting in lawsuits, reputational damage, rising insurance premiums and other financial repercussions. They also discuss the importance of securing qualified legal counsel and utilizing resources available through an insurance carrier. To learn more about QBE North America, visit www.qbe.com/us/acg-members. *** The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
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140 episodes

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iconShare
 
Manage episode 354379208 series 1614268
Content provided by Middle Market Growth and Middle Market Growth Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Middle Market Growth and Middle Market Growth Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
This episode is brought to you by QBE North America, a global insurance leader focused on helping customers solve unique risks to enable a more resilient future. *** Insurance coverage is the most basic form of risk transfer and protects businesses from risks under their direct management and control. However, a business can gain additional layers of protection through contractual risk transfer, in which the business shifts liability for loss to another party. QBE North America’s Tom Lysaught, senior vice president, head of property and casualty claims, and Bobby Steinsdoerfer, senior vice president, retail property and casualty underwriting, join the podcast to discuss the benefits of an effective contractual risk transfer strategy. They detail the varying levels of contractual risk transfer and how to implement an effective contractual risk transfer program. From poorly written contracts to inadequate contract management or handshake agreements, Lysaught and Steinsdoerfer share examples and detail common mistakes that can prevent a business from transferring risk appropriately—potentially resulting in lawsuits, reputational damage, rising insurance premiums and other financial repercussions. They also discuss the importance of securing qualified legal counsel and utilizing resources available through an insurance carrier. To learn more about QBE North America, visit www.qbe.com/us/acg-members. *** The Middle Market Growth Conversations podcast is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
  continue reading

140 episodes

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