Understand the various types of insurance policies that might apply to construction projects.
Many contractors and developers negotiate and draft contracts and are forced to bear the solvency and nonperformance risks of other parties and their contractual obligations. These exposures are often much larger than bonds or insurance purchased or other security held. Learn the major issues in negotiating and drafting such contracts, the risks that arise in these contracts, and the types and kinds of insurance policies and bonds that can be used to help address these risks. This course helps construction participants and their risk management and legal professionals understand their bond and insurance requirements and the various terms, conditions, and exclusions that they will need to understand in navigating their way to cover the losses that could occur.Learning Objectives
- You will be able to describe various types of insurance policies that might apply on construction projects.
- You will be able to explain the difference between general and professional liability insurance policies.
- You will be able to identify exclusions that might bar insurance coverage for construction projects.
- You will be able to review your insurance policies with more confidence and knowledge.
Agenda
Legal Considerations in Construction Contracts- Negotiating the Contract
- Drafting the Contract
- Liability Concerns
- The Coverage Grant
- Exclusions
- Conditions
- The Coverage Grant
- Exclusions
- Conditions
- The Coverage Grant
- Exclusions
- Conditions
- Bid Bonds
- Performance Bonds
- Payment Bonds
Speaker(s)
Robert E. Frankel, Esq., AIF®Investments & Wealth Institute
- General Counsel and Managing Director of Certifications at The Investments & Wealth Institute in Greenwood Village, Colorado
- Was a shareholder at the law firm of Anderson Kill & Olick, P.C. for nearly 13 years, practice concentrated primarily in insurance recovery and bad faith litigation on behalf of policyholders exclusively
- Served as Deputy City Attorney for the City of Colorado Springs, Director and Senior Corporate Counsel at DISH Network LLC, and Law Clerk for The Honorable John R. Padova of the U.S. District Court for the Eastern District of Pennsylvania
- Has written and lectured extensively on various insurance coverage topics, including numerous published articles in various periodicals and three published treatises: Insurance for Real Estate Related Entities (Fast Case 2019), Business Insurance (Fast Case 2019), Insuring Real Property Businesses (Law Journal Press, September 2007)
- Member in good standing of the Bars of the Supreme Courts of California, Colorado, and Pennsylvania, the United States Courts of Appeals for the Third and Sixth Circuits, and the United States District Courts for the Eastern District of Pennsylvania, Middle District of Pennsylvania, and the District of Colorado
- J.D. Degree, Order of the Coif, Loyola Marymount University Law School; B.A. Degree in economics, University of California at Berkeley
Reed Smith LLP
- Partner at Reed Smith LLP, where his practice emphasizes all aspects of insurance recovery litigation and counseling, exclusively for policyholders
- Chambers ranked and a Fellow of the American College of Coverage Counsel
- Frequent speaker and lecturer on insurance law topics
- Author or co-author of numerous articles, as well as two books: Business Income Insurance Disputes, a leading treatise on first-party property busi-ness income (interruption) insurance issues, and Business Income Coverage Guide
- Member in good standing of the bars of New York, New Jersey, and Pennsylvania, and several federal courts
- B.A. Degree, Yale University; J.D. Degree, with highest honors (and first in class), Rutgers Law School
