Insurance for joint ventures can be nuanced:
- Professional liability may protect individual firm decisions—but shared risk demands clear contractual language.
- General liability can respond to accidents involving third parties, but shared-site coverage depends on policy limits and definitions.
- It’s wise to clarify risk responsibility and insurance requirements in joint venture agreements, often involving tailored endorsements or combined coverage.
When multiple firms work together, contracts must align with policy terms—or else coverage gaps may appear.
