Approaches to Mitigate Legal Risks and Assessment of a Company"s or a Group’s Project Financing Options
Erik Marissen, Corporate Counsel, Marsh, Belgium
In today’s global economy clients often have a choice between different types of financial services to cover entirely or practically the same type of risk. In this context insurance or reinsurance services are competing increasingly with bank services and other financial services and products to cover a specific company’s risk.
This article proposes to provide an overview of the main legal risks a company could consider in the negotiation, conclusion and execution of an insurance policy compared with those other bank and financial services (guarantees, pledges etc.).
Considering the issue from the in-house corporate counsel’s point of view, two main aspects seem of particular relevance:
• The contractual context, i.e. the main legal risks of the contract negotiation.
• The organizational context: which different organizational elements corporate counsel could take into account while advising its company with respect to the negotiation, conclusion and execution of the contract?
The general purpose of the paper is to focus essentially on modalities of international relevance.
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