How does a waiver of subrogation differ from a hold harmless agreement?
In short, this is an endorsement to the sub-contractor’s insurance policy that says: My insurance company can’t sue you. The endorsement is a standard form known as a CG2404 or CG 2404a. The hold harmless agreement, simply put, says: I can’t sue you. For example, if I am a subcontractor and I trip and fall while I am working for you at your project site, the hold harmless agreement means that I cannot sue you for the cost of my doctor visit. We sign hold harmless agreements all the time when we rent a car or participate in a 10k run. What records need to be kept on file, and for how long? Proper recordkeeping is crucial for many reasons. Having a good system for keeping track of certificates of insurance will save time and effort when your carrier audits your workers’ compensation and general liability policies. When and if a claim occurs, having copies of the contracts with all the associated paperwork will simplify the process. These claims often come up many months after you complet
