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Live Webinar

90-minute live streaming program
  • May 15
  • 1:00 - 2:30 pm EST

Reading and Understanding a Corporate Insurance Policy

May 15

Gain insight into how to understand your company’s insurance policies and provide guidance regarding the key coverages available to businesses.

In an era where natural and man-made disasters and accidents are common place and frequently involve liability associated with property damage, injury involving the use of social media and big data, the increased targeting of individual directors and officers, and the growing costs associated with defending and resolving lawsuits, it is imperative for business leaders and owners to be acutely aware of their company’s insurance program. A well-managed and thoughtfully procured insurance program commonly provides a defense from a lawsuit where there is potential coverage, provides indemnity for any covered claim, settlement or judgment, and provides coverage for property damage or business interruptions caused by natural disasters. This topic will cover the most common forms of first and third party insurance available for businesses, including property coverage, commercial general liability insurance (CGL), directors and officers liability (D&O), errors and omissions liability (E&O), cyberliability, employment practices liability (EPLI) and fidelity bond/crime coverage. It will explain the core principles of insurance law that you should be mindful of when reading your policy that will inform your negotiation of the terms and conditions of the policy and understanding of the risks covered by the policy. The topic will conclude with an in-depth discussion of how to read and understand your corporate insurance policy, including the most significant terms and conditions, and will emphasize how different areas of the policy may change depending on the type of coverage and risks at issue.

Learning Objectives

  • You will be able to explain the importance of your company’s insurance program as a risk management tool and gain a better understanding of conduct that may be covered under your corporate insurance policies.
  • You will be able to identify the key issues and processes your company needs to address in its annual insurance renewal based on the individual needs of your business and the general forms used in the insurance industry.
  • You will be able to recognize common insurance pitfalls, including timely reporting of claims, the operation of annual policy periods and limits, and overcoming typical policy exclusions.
  • You will be able to review your corporate insurance policies to understand the level of coverage provided by your policies and your obligations under those policies.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Leading Types of Corporate Insurance Coverage
  • First Party Insurance – Property, Builder's Risk
  • Third Party Insurance
    • Director andOfficers
    • Commercial General Liability
    • Errors and Omissions
    • Employment Practices Liability
    • Cyber Liability
    • Fidelity Bond/Crime Coverage
  • Primary vs. Excess Insurance
  • Additional Insured Rights
Insurance Principles to Remember When Reading and Understanding Your Policy
  • Grants of Coverage vs. Limitations
  • Contra Proferentum
Understanding Your Corporate Insurance Policy
  • Understanding the Declarations Page: Term, Policy Period, Limits, and Deductible/Retention
  • The Insuring Agreement: Claims Made vs. Occurrence-Based Coverage
  • The Defense Obligation
  • Common Exclusions
  • Key Terms and Conditions: Notice, Cooperation, Consent and Settlement
The Power of Endorsements
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for presidents, vice presidents, directors, business owners and managers.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Bradley H. Dlatt

Bradley H. Dlatt

Reed Smith LLP

  • Associate in the Insurance Recovery Group in Reed Smith LLP’s Chicago office
  • Practice focuses on resolving insurance coverage disputes, including assisting with mediation, arbitration, and litigation, on behalf of corporate and individ-ual policyholders in a wide range of industries
  • Experienced in handling coverage disputes arising under, among other areas, directors’ and officers’ (D&O) liability insurance, errors and omissions (E&O) liability insurance, commercial general liability (CGL) insurance, first-party property damage, business interruption loss, and commercial crime/fidelity bond coverage
  • Experience in noninsurance complex commercial litigation and white collar defense and investigations
  • J.D. degree, Washington University School of Law, St. Louis; M.P.P. and B.A. degree, The George Washington University
  • Can be contacted at 312-207-2836 or [email protected]
Kevin B. Dreher

Kevin B. Dreher

Reed Smith LLP

  • Partner in the Insurance Recovery Group in Reed Smith LLP’s Chicago office
  • Practice focuses on commercial litigation with an emphasis on representing policyholders in complex litigation and insurance disputes
  • Insurance coverage practice is nationwide and has involved litigation in jurisdictions throughout the United States
  • Significant experience representing and counseling Fortune 500 companies in a variety of complex commercial litigation and insurance matters
  • Handled disputes in negotiation and litigation with all major U.S. insurers, and London and Bermuda market insurers
  • Writes and speaks frequently on insurance coverage and other topics and recognized as a Rising Star in Litigation
  • J.D. degree, University of Illinois College; M.A. degree, Loyola University in Chicago; B.A. degree, University of Michigan
  • Can be contacted at 312-207-2778 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405487
Published 2019
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