Avoiding Gaps in Wrap Insurance Coverage for Construction Projects
Conflicts and Reservations; Subrogation; Insufficient Limits; Reservations of Rights; Deductibles and Retentions; Insolvency
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will guide construction counsel, construction executives, and insurance brokers in addressing the issues and pitfalls with commercial and residential wrap insurance programs, and the coverage issues that often arise--including potential coverage gaps and eroding or inadequate limits--from the perspective of both the insurer and the insured. The panel will discuss practical alternatives to transfer risk outside of the wrap-up, and how to involve entities not enrolled in the wrap and their insurers with a focus on priority of coverage and state anti-indemnity statutes.
- Overview of commercial and residential wrap-up insurance programs
- Common issues with wrap-up insurance
- Program structuring and coverage issues
- Terms, conditions, limitations, and exclusions
- Interaction with indemnity provisions and other risk transfer provisions in construction contacts
- Practical considerations and strategies
The panel will review these and other key issues:
- What coverages are typically included and which are generally excluded?
- What are the primary issues and pitfalls with wrap insurance programs?
- What are the most common coverage issues that arise?
- How does policy language impact coverage and what coverage gaps could result?
- How do wrap-ups relate to construction defect issues?
- How are additional insured and contractual indemnification issues resolved?
- What are practical alternatives to transfer risk outside of the wrap-up?
- What are the strategies for involving non-enrolled other entities and their conventional, non-wrap insurers?
Fred Warren Jacoby
Mr. Jacoby is a commercial litigator with an emphasis on construction law. He has notably diverse experience and is a... | Read More
Mr. Jacoby is a commercial litigator with an emphasis on construction law. He has notably diverse experience and is a sought-after advocate and adviser who serves companies in the construction, real estate, and financial services industries. Mr. Jacoby represents clients in their most significant commercial litigation and regularly provides strategic counsel on operations and contracts to help clients avoid potential disputes. As senior adviser to the Construction Law practice, he represents owners, contractors, and construction managers in economic disputes with stakes ranging from several million to several hundred million dollars.Close
Jeffrey D. Masters
Cox Castle & Nicholson
Mr. Masters is a litigator and Co-Chair of the firm’s Development Risk Management and Insurance Coverage... | Read More
Mr. Masters is a litigator and Co-Chair of the firm’s Development Risk Management and Insurance Coverage Practice. He handles insurance coverage claims and litigation matters for regional and national public and private owners, homebuilders, developers, investors, contractors, and lenders. Mr. Masters also provides strategic counsel to clients on contractual risk transfer issues, operational risk management matters, and the structuring and implementation of liability and property insurance programs ranging from project-specific to enterprise-wide coverages. He as extensive experience with residential and commercial owner controlled and contractor controlled insurance programs and other innovative insurance structures.Close
Senior Vice President
Aon Risk Services
Mr. Quinteros leads Aon’s Los Angeles Group and provides critical support and expertise on residential market... | Read More
Mr. Quinteros leads Aon’s Los Angeles Group and provides critical support and expertise on residential market trends and coverage placements for private and public developments. He is instrumental in providing consulting services on various risk management topics including mergers and acquisitions. Mr. Quinteros’ work includes leading insurance and risk management due diligence for target acquisitions. He is well versed in many lines of coverage and has extensive experience in the structure and implementation of various forms of risk transfer.Close