Are we covered for this?

It never ceases to amaze me that clients sign contracts and then give them after-the-fact to their risk manager or Independent insurance agent. I recently read a contract where the client thought they were turning over part of their exposure to a third party. Only after I read the contract and explained the details did the client realize he had just agreed to pay a lot of money to reduce his liability, only to have contractually taken back the exposure even for the third party’s mistakes. I recently had my health insurer direct me to buy my medicine from a mail-order pharmacy. This is a multi-billion dollar company which I hope knowingly just took on a malpractice liability it didn’t have before. I hope they had the contract reviewed by a risk manager before they signed it and had an analysis done to determine if the risk assumed (multiplied by millions of insureds) is worth the cost savings. No business decision has such a tight fuse on it that one can’t take an hour to run the decision by a risk manager. I do it all the time by Internet. The client e-mails me the proposed contract and they can have an answer in a short time. Take time, next time. It might just be worth your time