Gain an understanding of 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 commonplace and frequently involve liability associated with property damage, injury involving the use of social media and big data, 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, provides indemnity for any covered claim, settlement, or judgment, and provides coverage for property damage or business interruptions caused by natural disasters. This course 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), cyber liability, and employment practices liability (EPLI) 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 emphasize how different areas of the policy may change depending on the type of coverage and risks at issue.
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Why Lorman?
Over 37 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
Why Understand a Corporate Insurance Policy?
Leading Types of Corporate Insurance Coverage
- First-Party Insurance - Property, Builder's Risk, Cyber
- Third-Party Insurance
- Director and Officers
- Errors and Omissions
- Employment Practices Liability; Commercial General Liability
- Cyber Liability
- Primary vs. Excess Insurance
- Additional Insured Rights
Insurance Principles to Remember When Reading and Understanding Your Policy
- Start With Policy Language
- Principles of Policy Construction
- Burdens of Proof
- Importance of Application
- Curing Breaches by the Insured
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
Loss Control and Claim Submission Strategies
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Why Lorman?
Over 37 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
OnDemand Course
This course was last revised on April 22, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 66 Minutes.
- NM CLE 1.1
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.1 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 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
David M. Cummings
Reed Smith LLP
- Counsel in the insurance recovery practice group in Reed Smith LLP’s Chicago office
- Practice focuses on representing corporate policyholders in resolving disputes concerning coverage under general liability, property, directors and officers, professional liability, and cyber liability insurance, among other types of coverage by way of litigation, mediation, and arbitration
- Representations range from large publicly-traded Fortune 500 corporations to start-ups and mid-market private companies covering industries as diverse as banking and finance, energy exploration and development, mortgage servicing and real estate, manufacturing, consumer retail, gaming, and health care
- His practice is international, with depth of experience in matters across the country at the state and federal level, and experience in matters involving the London and Bermuda markets, to name but a few
- Writes and presents regularly on insurance coverage issues; adjunct professor at the University of Illinois Chicago College of Law in the Lawyering Skills Department
- Recognized in Illinois Super Lawyers, selected to the Rising Stars list for business litigation and insurance coverage, 2016-2022
- J.D. degree, cum laude, University of Illinois College of Law; B.A. degree, University of Illinois at Urbana-Champaign
- Can be contacted at 312-207-6526 or [email protected]
Bradley H. Dlatt
Perkins Coie LLP
- Counsel in the insurance recovery practice in Perkins Coie LLP’s Chicago office
- Practice focuses on providing insurance counseling to businesses and resolving insurance coverage disputes, including representing corporate, non-profit, and individual policyholders in coverage mediation, arbitration, and litigation
- Recognized by Business Insurance as a 2022 Break Out Award winner, recognizing the top professionals under 40 years old in the insurance industry
- Regularly writes and presents on insurance coverage issues
- Can be contacted at [email protected] or 312-324-8499
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Why Lorman?
Over 37 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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