Construction Insurance: Protecting Your Client & Avoiding Common Traps
Learn what insurance policies are available and what kinds of coverage they provide. Our panel will also cover the intricacies of making claims, what triggers coverage, and how to avoid the most common errors made in making claims and enforcing insurance rights and remedies.
1 Hour MCLE Credit
There are many ways to approach risk management in construction projects. They include a strategic combination of indemnity agreements and insurance requirements in construction contracts before ground breaking, the right combination of insurance policies, and setting up good risk management protocols during construction. These strategies will enable your clients to be more secure financially, whether they are owners, architects, contractors, or subcontractors.
Learn what insurance policies are available and what kinds of coverage they provide. Our panel will also cover the intricacies of making claims, what triggers coverage, and how to avoid the most common errors made in making claims and enforcing insurance rights and remedies. This program focuses on CGL policies, cyber and real property insurance, and professional liability policies. Highlights include:
- Types of insurance most commonly purchased for construction projects and what they cover
- How to review insurance clauses in attorney-drafted construction contracts (or AIA forms) and make sure the required policies will actually fulfill indemnity obligations
- Learn the factors that trigger coverage, that determine statutes of limitations, and explore how to advise your client on the timing for reporting a claim
- Find out what are the most common construction defect claims and if they be insured against
- Hear about traps attorneys fall into regarding contract negotiation, coverage, and claims reporting, and how to avoid them
This is a beginner to intermediate level program. Some prior experience with construction law matters is optimum, but not necessary.