Insurance & Tort Law: Tips to Build a Better Coverage Tower and Avoiding the Indemnity and Additional Insured Pitfall
1.0 CLE credit applied for this program.
Featuring: Chris Yetka and Chris Lynch, Partners, Barnes & Thornburg
When a business faces bet-the-company loss or liability, it turns to its excess insurance carriers for coverage. Unfortunately, in all too many cases, that is also the first time anyone at the business has actually looked at the form on which that excess coverage is written. Historically, excess coverage was written on a follow-form basis, meaning (at least in theory) that the coverage provided by the excess policies would be largely the same as that provided by the primary policy. But a policyholder can no longer assume that will be the case. Today, true follow-form excess coverage is rare, and even excess insurance policies that purport to provide "Follow Form” coverage often condition the extent to which their coverage actually follows the coverage provided by the underlying policies. In addition, businesses are increasingly faced with indemnity or additional insured clauses in contracts. How these provisions are drafted and negotiated can have a drastic effect on whether they will ultimately be enforceable. Also, recent case law has provided instruction on the application of Minnesota’s anti-indemnity statute in the context of construction cases.
Chris Yetka and Chris Lynch, Partners in the Minneapolis office of Barnes & Thornburg’s Insurance Recovery and Counseling Group, will explain why businesses and their advisors should pay attention to excess coverage forms, along with indemnity provisions and additional insured language in contracts, and offer some tips as to what companies should consider when reviewing and analyzing these provisions. The HCBA Insurance & Tort Law Practice Section sponsors monthly programs with CLE credit on the fourth Tuesday of each month, from 4:00 PM to 5:00 PM, followed by an informal get-together at Lyon’s Pub across the street. Mark your calendars! Join our mailing list!
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