John G. Koch, Insurance Counseling & Recovery Shareholder and firm's Deputy General Counsel, was recently quoted in a Business Insurance article, "Liability waivers require risk management input."
In the article, John draws on his experience helping business clients recover from their insurance companies or other responsible parties when facing a loss or potential liability.
"The clauses should reflect the insurance requirements of the contracts, Mr. Koch said. For example, a clause may limit the liability of a consultant to the value of work performed, which could be in the thousands of dollars, but the consultant may also be required to retain professional liability coverage in the millions of dollars, he said.
The contract should reflect the coverage limit the contractor must buy, Mr. Koch said."
