Insurance Bank-Shots: Maximizing Coverage from Other People's Insurance

DATE: Tuesday, August 8, 2017

TIME: 12:00 PM - 1:00 PM

VENUE: King of Prussia Crowne Plaza, Philadelphia, PA

ORGANIZER: Association of Corporate Counsel Greater Philadelphia Chapter


Whether you're planning to buy or sell a company, seeking to cover an acquisition's liability, entering a joint venture or simply hiring contractors or working with partners on a project, the insurance of your counterparties is always a vital concern.  This session will examine key questions to ask about insurance owned or obtained by others that may be vital to your venture.  On the M&A front, we'll address how to assess a potential acquisition's insurance portfolio.  For long-tail liabilities, we'll outline how to identify and access a predecessor's insurance policy, considering coverage issues including trigger of coverage, assignment of insurance, and periods covered by insolvent insurance companies.  For joint ventures or work with contractors, we'll examine key coverage issues that may affect the quality of your coverage as an additional insured, and key terms to seek in your contracts.  These include taking account of recent developments in business interruption coverage.

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