No. You can seek insurance for pretty much anything unless there is some form of illegality involved. But the question is whether anyone will be willing to insure it and the scale of premium. Ultimately, as buyer, you will bear the cost of that risk transfer in the price you pay.
Bear in mind that commercial insurance can be first party (premises, property) or third party. Assuming you mean third party the exclusions tend to fall into various categories:
1. So-called peak risks such as:
- nuclear risks
2. Own actions such as:
- deliberate and/or fraudulent acts (e.g. own fraud, libel)
- pure contractual liability
- IP infringements
3. Other covers that are usually bought separately (e.g. Key Man, Workers Comp, D&O liability).
For first party covers you would tend to find a limited inclusion for Business Interruption and Contingent Business Interruption - here you should read the wording very carefully.
This is a very broad question! Shared services is normally internal, so what sort of 'shared service' do you mean?
Critical elements will be definition of scope, provisions for change In services, charging mechanism and KPIs.
• World Commerce & Contracting
In addition to the provisions that you might find in a typical services agreement (www.contractstandards.com/public/contracts/master-services-agreement) and statement of work www.iaccm.com/resources/, I would also make sure that you cover governance, change management, and innovation. In my experience, it is likely that the Shared Services model will change significantly over the life of the arrangement and you need to make sure that there are agile provisions in place to support such changes.
If you could provide more detail, perhaps our community will be able to provide you with a fuller response.
Thanks Paul and Anonymous for your response. I'm going to propose Shared Services Model to the Customer for Service Desk and End User Computing. It is primarily resource sharing across different Customers. Along with scope of services, support level, governance, charging mechanism, change management etc., I think its also important to address Security and Confidentiality of Customer's data in the Contract.
Can you please help me with a few model clauses that can be leveraged for Security and Confidentiality pertinent to Shared Services Model ? It would be great if you can share a standard agreement which was drafted for Shared Services only.
IACCM Networks are collaborative, community driven professional networking sites. Our contributors publish their
own content as well as links to third-party articles and websites, and IACCM cannot be held responsible for content posted here.
View Content Policy
IACCM cannot guarantee or warrant the accuracy, reliability, currency, completeness or legality of such content, third-party articles, or
linked websites, and disclaim all responsibility for the use of any inaccurate, incomplete or illegal content contained in or linked from IACCM
and disclaim any and all liability to the user for any damages, including without limitation, direct or indirect, special incidental, moral or
consequential damages, loss of profits, opportunities or information or for expenses arising in connection with your use of IACCM, its services,
forums or the site content, even if they (individually or as a group) have been advised of the possibility of such damages, losses or expenses;
do not warrant that IACCM operates error-free, nor that defects, errors or omissions will be corrected, or that IACCM is completely secure;
disclaim any and all warranties of any kind, including but not limited to implied, express or statutory warranties as to non-infringement of
intellectual property rights, or third party rights, title, latent defects, uninterrupted service, merchantability, fitness for a particular
purpose, and freedom from computer viruses; and
do not warrant or guarantee that files available for downloading through IACCM will be free of infections or viruses, worms, Trojan horses or
other code that contains contaminating or destructive properties.
IACCM, including any and all aspects of IACCM, is not a substitute for independent professional advice and users should obtain
any appropriate professional advice relevant to their particular circumstances. Users must exercise their own skill and care with respect to
their use of IACCM and must carefully evaluate the accuracy, currency, completeness and relevance of the material on the site for their
purposes. The user should carefully assess any and all information obtained through IACCM before applying it to the user's situation. Never
disregard, avoid or delay in obtaining professional advice about handling engineered or other nanomaterials or nanoparticles because of
something you have read on this site. The advice the user finds in IACCM is freely offered in good faith, but no legal liability can be
accepted by IACCM, members on IACCM's Implementation Committee, IACCM's operators, content partners, content contributors or providers, or
IACCM contains links to other Internet sites that are external to IACCM. IACCM takes reasonable care in linking Internet
sites but has no direct control over the content of the linked sites, or the changes that may occur to the content on those sites. It is the
responsibility of the users to make their own decisions about the accuracy, currency, reliability and correctness of information contained in
linked external Internet sites. Links to external Internet sites, or links to documents, do not constitute an endorsement or a recommendation
of any material on those sites, or in those documents, or of any third party products or services offered by, from or through those sites or
those documents. Users of links provided by this Internet site are responsible for being aware of which organization hosting the Internet site
To report any innappropriate content, please