Addressing and Managing Risks in Construction Insurance: Everything You Need to Know
A 2017 survey revealed that the key risks and challenges concerning construction executives nowadays include workforce management, complex operating models and geopolitical and regulatory change. This new risk setting implies the need for the construction industry to have better risk management solutions. One significant risk allocation tool is a contract governing the involved parties’ rights and obligations, which primarily allocates risk by indemnity and insurance requirement provisions. It is crucial to ensure that insurance requirements for construction-related contracts are tailored properly to the needs of the construction company.
In this LIVE Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will help those in the construction industry understand the important aspects of this significant topic. They will provide an in-depth discussion of the recent trends and developments surrounding construction insurance. Speakers will also offer best practices in preparing well-fitted construction insurance requirements to avoid potential risks and hefty fines.
Key topics include:
- Top Risks in the Construction Industry
- Risk Management Trends and Developments
- Construction Insurance
- Common Drafting Mistakes
- Best Practices
Steven Nudelman, Partner
Greenbaum, Rowe, Smith & Davis LLP
Construction Contract Insurance Clauses
- Types of Insurance and Drafting Concerns
- CGL (Commercial General Liability)
- Professional Liability
- Pollution Coverage
- Builders Risk
- General Concepts
- Insurance Certificates / Copies of Policies
- Duration and Modification
- Minimum Insurer Ratings
- Insurer Authorization and Licensure
- Additional Insured
- Deductibles and SIRs (Self-Insured Retentions)
- Notice of Termination / Cancelation / Nonrenewal
- Flowdown Clauses
- Primary and Noncontributory Coverage
- Policy Limits
- Waivers of Subrogation
Tracy Alan Saxe, Partner
Saxe Doernberger & Vita, P.C.
- Wrap Programs
- Upstream contractors should be aware of the dangers of horizontal exhaustion and require primary and noncontributory language in their subcontracts.
- Contractors should insist on AI language that removes privity of contract as a coverage requirement.
Who Should Attend:
- Insurance Companies offering Construction Insurance
- Contractors and Subcontractors
- Owners of Construction Projects
- Insurance Officers
- Insurance Lawyers
- Human Resource Executives
- Payroll Officers
- Risk Managers
- Other interested/related professionals
Steve is a partner in the Litigation Department of Greenbaum, Rowe, Smith & Davis LLP, where he is a member of the Construction Practice Group. The firm has offices in Woodbridge and Roseland, New Jersey and in New York. Steve concentrates his practice in construction law and represents owners, contractors and design professionals in construction-related claims and disputes. He also represents community associations, unit owners and developers in lawsuits regarding construction defects, budgeting and financing issues and condominium governance. Steve maintains an active transactional practice, negotiating and drafting construction contracts for his clients. He frequently lectures industry groups and bar associations on construction law topics and is the legal columnist for two specialty trade publications, Plumbing Engineer and PHC News. Steve is also an author of the New Jersey Construction Q&A chapter of Practical Law, and the New Jersey chapter of CPI LienLaw Online.
Steve is a partner in the Litigation Department of Greenbaum, Rowe, Smith & Davis LLP, where he is a member …
Tracy Alan Saxe is a skilled commercial litigator with more than 30 years of trial experience. His practice focuses on the representation of policyholders in complicated and intellectually challenging insurance coverage issues. Tracy has litigated insurance coverage matters all over the country and enjoys working in conjunction with sophisticated corporate clients and their brokers to create unique and customized strategies to resolve complex legal issues. He is recognized as a pioneer and thought-leader in the insurance and risk/coverage industry and is an active lecturer speaking on insurance coverage topics at seminars and conferences nationwide.
Tracy Alan Saxe is a skilled commercial litigator with more than 30 years of trial experience. His practice focuses on …
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Method Of Presentation:
On-demand Webcast; Group-Internet Based
Experience in insurance law
NASBA Field of Study:
Business Management & Organization - Non-Technical
NY Category of CLE Credit:
Areas of Professional Practice
1.0 CLE; 1.0 NASBA-CPE
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About Greenbaum, Rowe, Smith & Davis LLP
Greenbaum, Rowe, Smith & Davis is a multi-practice law firm serving local, regional and national clients. As one of New Jersey’s leading law firms, the firm brings diverse and comprehensive expertise to the representation of both businesses and individuals. For over 100 years, the firm has earned the trust and loyalty of clients by providing sophisticated, creative and cost-effective representation through collaborative teamwork, proactive legal strategies, attention to detail and relationship-oriented service.
About Saxe Doernberger & Vita, P.C.
SDV is among the elite firms in the country representing policyholders in insurance coverage disputes, and one of even fewer firms whose practice is focused exclusively in this area. We partner with risk managers, CFOs, in-house counsel and other corporate leaders to resolve conflicts quickly and effectively. SDV was named Litigation Department of the Year in Insurance Litigation by the Connecticut Law Tribune for our "Niche within a Niche" practice, and our continued growth speaks to the quality of the representation we deliver.