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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, September 7, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will address casualty and liability insurance issues applicable to real estate leasing from the perspective of both landlord and tenant. The program will discuss the necessary coverage and recommend contract provisions to require insurance coverage and receive the maximum benefit of the coverage. The program will also address key coverage issues such as exclusions, proof of coverage, additional insured and loss payee parties, and primary/excess coverage.

Faculty

Brad A. Molotsky
Partner
Duane Morris LLP.

Mr. Molotsky’s primary practice is focused in the areas of commercial leasing, acquisitions and divestitures, property management, financing, public private partnership and real estate joint ventures (including mixed-use development). He also has deep experience in board governance and managing public company issues such as enterprise risk, internal audit, compensation, proxy statement preparation and review, as well as energy efficiency and sustainability and corporate social responsibility. Previously for nearly 20 years, he served as executive vice president, general counsel and corporate secretary of Brandywine Realty Trust where he was responsible for all legal operations of the company, including acquisitions and divestitures, financings, joint ventures, board matters, insurance procurement, litigation oversight, SEC filing oversight and the legal aspects of capital raising.

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Susan Drake-Patelson
Area Executive Vice President
Arthur J. Gallagher & Co.

Ms. Drake-Patelson's specialities are General Liability, Workers Compensation, Umbrella/Excess and Enviromental.

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Description

One of the more complex commercial leasing areas involves insurance provisions and how they relate to indemnities for third-party and first-party claims. Businesses can address these risk allocation issues with liability and property coverage, but counsel must ensure indemnity provisions that do not impede insurance coverage.

Counsel must identify the potential, relevant casualty loss exposures and the scope of the applicable insurance policy(ies) when drafting insurance requirements to apply to each party.

A vital issue in liability coverage is the ability to access the other party's coverage in the face of a contractual liability exclusion and other policy limits. The parties should obtain additional insured status to confirm insurance coverage of contractual indemnification under the lease.

Listen as our panel of real estate attorneys looks at casualty and liability insurance issues critical to landlords and tenants negotiating a real estate lease. The panel will discuss essential coverage and contract provisions to require insurance coverage and maximize coverage benefits. The program will also discuss other coverage issues relevant to commercial leases, including exclusions, proof of coverage, additional insured and loss payee parties, and primary/excess coverage.

Outline

  1. Intro: nuts and bolts and common terms
  2. Interrelation between property and liability coverage
  3. Casualty insurance
  4. Commercial general liability insurance
  5. Certificates of insurance
  6. Matching indemnity and casualty restoration obligations with insurance

Benefits

The panel will review these and other key issues:

  • What are the relevant considerations for parties assessing appropriate protection under a casualty policy?
  • What are best practices for drafting risk allocation and insurance provisions?
  • How can counsel ensure that contractually required AI coverage is satisfied by the named insured's policy?