Got Real Estate? Got Risk?
Property owners and developers have serious exposure to bodily injury or property damage claims. Yet many owners/developers do not fully understand the extent to which they might be liable or how they can shift or allocate the risk of significant financial loss.
This program will explain the use of two powerful tools: indemnification provisions and insurance. A well crafted lease or other contract can effectively allocate risks between the owner and the commercial tenant, the developer and the contractor, and others, and the right kind of insurance can be utilized to cover the party’s risks.
Our experienced panel of attorneys and risk advisors will discuss typical insurance and indemnity clauses, as well as cover such issues as maintenance & repair, and the meaning and use of exculpatory provisions, waiver of subrogation and casualty clauses in commercial real estate leases.
Attendees will also learn about:
- Types of insurance (e.g. property vs. liability etc.) and what they generally cover;
- Certain additional coverages that landlords and tenants should consider, such as additional insured coverage, rent loss, business interruption, law and ordinance;
- Appropriate insurance limits;
- Coverages/risks that are often missed;
- Exclusions that should be avoided;
- Trends in the insurance market; and
- Evidence of insurance coverage – what owners and developers should ask for and look for in reviewing proof of coverage.
Apr 02, 2012