March 3, 2016 — The article provides an overview and summarizes the current landscape of indemnification agreements. “Having an indemnification clause, alone, in a contract is not enough”, states Joseph Asselta,” An indemnitee should make sure that the indemnitor’s obligations are covered by the indemnitor’s insurance policies,” … “Since a party’s obligation to indemnify does not necessarily trigger coverage under its liability insurance policy, there are two common ways to secure insurance coverage for contractual indemnification obligations. The first is to require the indemnitor to have contractual liability coverage as part of its policy. This then allows for insurance coverage of the indemnitor’s obligation to indemnify the indemnitee. The other is to include language requiring the indemnitor to obtain an additional insured endorsement to its liability policies covering the indemnitee.” …”This way, the indemnitee may tender any claim made against him directly to the indemnitor’s insurance carrier for a defense and coverage,” Asselta also noted.
Joseph Asselta represents clients in all segments of the construction industry including owners, developers, lenders, design professionals, general contractors, construction managers, trade contractors, subcontractors, suppliers, equipment rental companies, insurers and sureties (on both public and private projects). He has prosecuted and defended numerous claims relating to non-payment, extra work, delays, changed and unforeseen conditions, design and construction defects, defaults, terminations, mechanic’s liens, prevailing wages and project labor issues, insurance coverage and performance and payment bonds in both state and federal courts and administrative agencies, arbitration and mediation. A significant portion of his practice also includes the review, drafting and negotiation of construction contracts and related project documents.
Founded in 1976, the Firm LLP is one of Long Island’s most acclaimed and distinguished law firms.
Headquartered in Uniondale, NY, the Firm is conveniently located for clients in Nassau and Suffolk counties, as well as those in New York City.
The Firm employs over 60 talented attorneys who provide counsel to a broad range of clients, including national, regional and local businesses, major real estate developers and organizations, banks, insurance companies, municipalities, educational institutions, contractors, architects/engineers and individuals.
*The Omni, 333 Earle Ovington Boulevard, Suite 1010, Uniondale, New York 11553*