Protecting Lender Interest in Borrower Insurance Proceeds

Navigating Insurance and Bankruptcy Issues in Commercial Lending

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, April 12, 2011

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide counsel for lenders and financial institutions with a review of how insurance proceeds are treated under the UCC and bankruptcy law. The panel will discuss recent legal developments impacting insurance requirements in financing transactions and outline loss mitigation strategies for lenders.

Description

Standard loan documentation requires borrowers to maintain insurance coverage to protect the lender and the collateral. Counsel for lenders must understand how insurance proceeds are treated under the UCC to ensure the loan documentation adequately protects the lender's interest in the proceeds.

Particularly in these tough economic times, lenders' counsel need to understand how insurance proceeds will be treated if a borrower files for bankruptcy. There are potential coverage problems that a lender should consider when analyzing its ability to recover proceeds in bankruptcy.

Lenders' counsel must also stay on top of insurance marketplace developments such as the efficacy of certificates of insurance as proof of coverage, UCC insurance coverage for lenders, and the complexities of federal flood insurance regulations.

Listen as our authoritative panel of attorneys guides you through the documentation of insurance coverage in commercial loan transactions, best practices for protecting the lender's interest in the insurance proceeds and recent developments impacting insurance requirements.

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Outline

  1. Treatment of insurance proceeds under the UCC and bankruptcy
  2. Legal trends and developments affecting insurance requirements and documentation
  3. Loss mitigation strategies for lenders

Benefits

The panel will review these and other key questions:

  • What provisions should be included in loan documents that deal with insurance?
  • How have the courts treated the proceeds of business interruption coverage under Article 9?
  • Why may lenders be at risk for relying solely on certificates of insurance as proof of coverage?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Frederic J. Giordano
Frederic J. Giordano

Partner
K&L Gates

He focuses his practice on complex civil and commercial litigation. He counsels policyholder clients on and litigates...  |  Read More

Michael L. Weissman
Michael L. Weissman

Of Counsel
Levin Ginsburg

His practice is devoted to financial and business transactions including the structuring of a wide variety of financing...  |  Read More

Gary M. Zimmerman
Gary M. Zimmerman
Senior Vice President and Chief Underwriting Counsel
Fidelity National Financial

He supervises and coordinates the underwriting, policy and production personnel and functions for the company's UCC...  |  Read More

John Eggum
John Eggum

Attorney
Butler Pappas

He concentrates his practice on representing insurers in insolvency-related matters, particularly in cases under...  |  Read More

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