Gain an understanding of your company’s insurance policies and provide guidance regarding the key coverages available to businesses.
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 commonplace 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, 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 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.
Agenda
- Why Understand a Corporate Insurance Policy?
- Leading Types of Corporate Insurance Coverage
- Insurance Principles to Remember When Reading and Understanding Your Policy
- Understanding Your Corporate Insurance Policy
- The Power of Endorsements
- Loss Control and Claim Submission Strategies
Speaker(s)
Bradley H. DlattPerkins Coie LLP
- Counsel in the insurance recovery practice in Perkins Coie LLP’s Chicago office.
- Provides insurance-related counseling to corporate, non-profit, and individual policyholders, including assisting with purchasing and renewing insurance policies, auditing policies, and advising on contractual risk transfer through additional insured and indemnity provisions.
- Represents policyholders in insurance coverage disputes, including in COVID-19 business interruption litigation and disputed claims under CGL, Cyber, D&O, E&O, Employment Practices Liability, Fiduciary Liability, Fidelity Bond, and Commercial Property coverage forms.
- Recognized as an Illinois Super Lawyers Rising Star in Insurance Coverage annually since 2019.
- Writes and presents regularly on insurance coverage issues and maximizing contractual risk transfer.
- Graduated magna cum laude, Order of the Coif from Washington University School of Law in St. Louis. Also holds a B.A. and M.P.P. from The George Washington University.
Perkins Coie LLP
- Associate in the insurance recovery practice in Perkins Coie LLP’s Madison office
- Represents policyholders in insurance coverage disputes in federal and state court, representing clients in a wide range of industries, including real estate, e-commerce, hospitality, technology, and retail.
- Provides insurance-related counseling to corporate, non-profit, and individual policyholders.
- Recognized by Best Lawyers: Ones to Watch for Commercial Litigation, 2025.
- Graduated magna cum laude, Order of the Coif from the University of Wisconsin Law School. Also holds a B.A. in Journalism from the University of Wisconsin-Madison.
