Know what your commercial property insurance covers before a loss or damage to property occurs.
Although first-party property insurance is a standard part of virtually every commercial enterprise’s risk management portfolio, many provisions continue to elude easy understanding. In many cases, risk managers and general counsel do not discover how the coverages for which their companies have been paying premiums for many years actually work (or do not work) until a major loss or damage to property occurs, at which time it may be too late to address any issues or fill in any gaps in coverage. This topic will enable you to identify and define the coverages available in first-party property insurance. You will be able to recognize issues that commonly arise in property insurance claims, with a particular emphasis on coverage problems associated with natural disasters. You will have a greater understanding of your company's policies and be able to review them with an eye towards strengthening the coverages and ensuring that the insurance fits your company's needs.
Agenda
Faculty
Paul Walker-Bright
Reed Smith LLP
- Partner in the Chicago office of Reed Smith, LLP in the Insurance Recovery Group, named by US News – Best Lawyers as the Law Firm of the Year for Insurance Law in 2017
- Ranked in Chambers USA: America’s Leading Lawyers for Business (2007-2017) in Insurance Recovery
- Co-chair of the Property Insurance Subcommittee of the Insurance Coverage Litigation Committee of the American Bar Association Section of Litigation
- Co-author of Chapter 45 of NEW APPLEMAN ON INSURANCE LAW LIBRARY EDITION: & “Additional and Supplemental Coverages”
- Represents and advises a large retail company and a major oil and gas company on all aspects of their insurance coverage programs, including first-party property insurance
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