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ALLOCATING RISK IN REAL ESTATE LEASES: CONTRACTUAL INDEMNITIES, ADDITIONAL INSURED ENDORSEMENTS, SUBROGATION WAIVERS

December 03, 2019 | (1:00pm-2:30pm)
USA (United States of America)
Indemnification agreements are widely used to shift risk in a variety of real estate transactions. Real estate leasing counsel must understand the impact of indemnification lease provisions who is ultimately responsible for the claim, and when and how is this responsibility shared? The indemnitor must negotiate contractual clauses that limit the scope of the indemnification. The party seeking indemnification must negotiate provisions that address negligence, AI status, and defense of claims. Understanding the relationship between contractual indemnification, insurance requirements, and different AI endorsements are critical to effectively allocating risk. ISO's 2013 AI endorsement revisions are crucial when drafting risk-transfer language.