Practical Tips and Strategies in Managing Environmental and Transactional Risk Insurance: What You Need to Know
The merger and acquisition (M&A) transaction process is getting increasingly complex due to the many factors which include deal parties’ conflicting interests. As a result, investors and private equity companies worldwide are now turning to transactional risk insurance to reduce the risks brought by the current M&A landscape.
While transactional risk insurance provides numerous benefits for deal parties, it doesn’t come without traps. Deal lawyers and other professionals should be aware of the potential issues that may arise in negotiating and structuring coverage and exclusions. This is to ensure that benefits are maximized, and pitfalls are mitigated.
This course offers an overview of the latest trends and issues in transactional risk insurance. A panel of thought leaders and practitioners brought together by The Knowledge Group will help professionals better understand how to apply this business trend to their company and/or clients. They will also present best practices in negotiating coverage and exclusions.
Key topics include:
- Common Environmental Transactional Concerns
- Environmental Insurance in M&A
- Reps and Warranties Insurance (RWI) and Environmental Insurance
- Key Considerations
- Best Practices in Negotiating Coverage and Exclusions
Kenneth Cornell, Managing Principal
- Tools for managing environmental risk
- Common Environmental Transactional Concerns
- Traditional Environmental Risk Management Tools for Transactions
- Role of Environmental Insurance in Mergers and Acquisitions
- Environmental Site Pollution (ESP) Insurance
Phil Casper, Principal
Euclid Transactional LLC
- Basics of RWI
- RWI in context of an environmentally sensitive transaction
- Differences between RWI and Environmental Insurance
- How to use RWI and Environmental Insurance together
Who Should Attend:
- M&A Lawyers
- M&A Professionals
- Private and Public Companies
- Insurance Companies
- Legal Executives
- In-house Counsel and Advisers
- Risk and Compliance Officers
- Other Related/Interested Professionals
Ken Cornell is Managing Principal of Enviant, a Division of Euclid Environmental Underwriters, LLC. Ken, along with a team of industry veterans, launched Enviant in March of 2016, building a team of underwriting, claims and legal professionals to deliver a diverse portfolio of environmental insurance products and services. He began his career with AIG in 1985, rising from an entry level underwriting position to Executive Vice President of AIG Environmental, ultimately managing a $1B environmental insurance portfolio and team of over 150 underwriters in 12 offices. In addition to his US role, his duties at AIG also included responsibility for the global environmental reinsurance program which supported both US and non US business. Subsequent to his time at AIG, Mr. Cornell built an environmental wholesale brokerage unit at a national wholesale broker and launched several successful startup environmental insurance divisions for large publicly traded insurance carriers. He has a BA in Biology from Gettysburg College and a Master’s degree in Environmental Management from Duke University.
Ken Cornell is Managing Principal of Enviant, a Division of Euclid Environmental Underwriters, LLC. Ken, along with a team of …
Phil Casper is a founder and Principal of Euclid Transactional, LLC (“ET”), a managing general agency that underwrites transactional liability insurance in the United States and Canada. Phil is based in New York and manages the underwriting and marketing of transactional liability insurance products for ET. Prior to joining ET, Phil worked at a leading international insurance company in its Mergers & Acquisitions Insurance Group as a Vice President and Regional Underwriting Manager. Before entering the insurance industry, Phil was an attorney in the Business Transactions group at Schulte Roth & Zabel LLP, where he advised private equity and other corporate clients on a wide range of corporate matters, including mergers and acquisitions and securities matters.
Phil Casper is a founder and Principal of Euclid Transactional, LLC (“ET”), a managing general agency that underwrites transactional liability …
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Method Of Presentation:
General knowledge of business insurance
NY Category of CLE Credit:
Areas of Professional Practice
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Enviant is focused exclusively on providing a comprehensive suite of environmental insurance products and services to a range of commercial clients. With a highly experienced team of technical experts, a one-of-a-kind approach to underwriting, and a comprehensive service profile, Enviant stands apart as a thoroughly unique approach to environmental insurance and risk management. Enviant is a division of Euclid Environmental Underwriters, LLC part of the Euclid Program Managers family of program administrators. Enviant is a managing general agent and Lloyd’s coverholder, offering insurance products backed by Lloyd’s of London.
About Euclid Transactional LLC
Euclid Transactional is a managing general agency specializing in the underwriting of representations & warranties, tax liability, contingent liability and other transitional insurance coverages. With offices in New York, London, Chicago and Toronto Euclid assists clients in North America, Europe, the Middle East and Africa. Euclid Transactional is owned and operated by a team of underwriters dedicated to providing best-in-class service, deal execution and claims handling. The team collectively has over 80 years of M&A and transactional insurance experience and has been involved in the underwriting of thousands of transactional insurance policies and billions of dollars of transactional risk.