Please note that compensation agreements or other agreements that bind you to any liability do not change the terms of your insurance policy. Therefore, if you commit to third-party compensation, that does not mean that the insurance company is obliged to cover that agreement. The result may be that you can accept an uninsured personal or business liability. Waiver, Release and Exemption Agreement With respect to the agreements you have entered into with other parties, we have provided three different versions of a waiver, release and exemption contract specifically related to COVID-19 for use with your subcontractors, suppliers and/or tenants. Since no company can waive the rights of its employees to sue you if an employee is involved in the virus and subsequently claims that it has been infected in your workplace or by other means on your property, this agreement proves that the subcontractor, seller or tenant (“subcontractor”) is responsible for the implementation and application of all COVID 19 specific security procedures. It will also provide an update of all existing compensation provisions, which may be included in your current agreement, to add a requirement that the subcontractor defends and compensates you for all employee claims related to actual or suspected exposure to the virus. The resumption of operations in the midst of a national pandemic is certainly a new ground for businesses. Dozens of coronavirus complaints have already been filed nationwide against companies. As a result, companies must do all they can to protect themselves. This begins with the development and implementation of appropriate safety procedures and protocols, which contain CDC and OSHA guidelines to protect the safety and well-being of your employees and visitors to your property or site.
Once these security procedures are in place, these agreements are an additional tool to protect your organization from third-party liability claims that they have been infected with the virus despite your security practices. We recommend that you check these models and discuss their use with your Graham Company account management team and your security consultant. In these unprecedented times, you may be asked to compensate and compensate a third party for the exposure of a party to LA COVID-19, which arises from the state of ownership, your business activity or the presence of employees or agents of the compensated party on a site.