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Risk Transfer Agreement

 
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Old 05-20-2019, 11:09 AM   #1
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Risk Transfer Agreement


You learn or hear something new every day. I have had insurance through two companies since I started 10 years ago. Another wanted to quote me so I sat and listened to his pitch. No harm in him running the numbers.

One of the insurance companies is asking for Risk Transfer Agreements from my subs. I have never heard this. Even when I have been a sub I have never been asked to sign one. Is this common practice to have Risk Transfer Agreements?

Lastly, does anyone have an example of one they are using. Yes, I could look it up, but I am interested in a live document.
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Old 05-20-2019, 11:53 AM   #2
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Re: Risk Transfer Agreement


I have never heard of this either, I am required to have subs list me as additional insured, is the transfer agreement a different way of saying the same thing?

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Old 05-20-2019, 11:54 AM   #3
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Re: Risk Transfer Agreement


Fyi. I couldn't help googling.

https://www.selective.com/info-cente...fer-agreements
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Old 05-20-2019, 11:57 AM   #4
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Re: Risk Transfer Agreement


I have a hold harmless clause in my sub contracts, so I guess I do have risk transfer agreements
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Old 06-02-2019, 02:32 PM   #5
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Re: Risk Transfer Agreement


Based on that link we do, just never heard it called that before.
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