Managing the risks associated with master services agreements with insurance companies for remediation services requires attention to detail when reviewing the contract. If a restorer misses a detail in the contract, the indemnity agreement in these contracts can leave the restorer in the position of being the insurance company of a big insurance company.
The good news is no one wants you to personally be their insurance company of last resort in the event of an uninsured loss at a project site. Therefore, good contracts are designed through adequate insurance requirements to make sure that never happens. The problem is it is very common for restoration contractors to not be in compliance with the insurance requirements in contracts, especially in work or projects assigned under master services agreements with insurance companies.