In this second of two short videos, a/e ProNet Associate Member Kent Holland, JD. addresses key risk allocation issues in a typical indemnification clause.
Kent shows how he would recommend redlining to revise an uninsurable indemnity clause under a professional insurance policy. His revisions limit indemnity to third party tort claims and the damages from such claim only to the extent caused by the Indemnitor’s willful misconduct or negligence.
Kent also deletes from the list of Indemnitees “agents and representatives” as being too broad, and shows other ideas as well.