New contract? Make sure you’re covered
We all love the thrill of growing our business and winning new contracts, but sometimes this excitement to ‘sign on the dotted line’ can lead to companies not fully understanding exactly what they are agreeing to.
Naturally every supplier agreement comes with its own requirements for indemnity and insurance, and recruiters can often find themselves being asked to take on more than is reasonable and commercially equitable.
Whilst you should always seek legal advice when entering into a new contract, an insurance review of your position and agreed upon obligations are just as important. In these cases, quite often your lawyers will ask you to seek confirmation from your insurance advisor of the implications of these clauses and the effectiveness of your insurance policies to satisfy them.
RCSA Insurance has extensive experience in undertaking these reviews, at our own expense and we provide sound commercial advice on what is reasonable and what your insurance policies can and can’t cover.
Our advice and guidance allows you to assess your risk and make an educated decision about exactly what you are prepared to accept and what you simply cannot agree to.
Our reviews are thorough, detailed and designed to enable you to pass our comments directly to the procurement team of your current or proposed client. They have consistently enabled members to negotiate a more favourable and equitable position without jeopardising the outcome of your tender.
If you have a PSA on your desk right now and want us to cast our eyes over the indemnity and insurance clause, please get in touch for a detailed review. Similarly, if you have an agreement in place and just want some reassurance that you haven’t accepted too much, just let us know.