Reading and Understanding a Corporate Insurance Policy

Lorman Education Services
Training overview
Professional Course
Self-paced Online
1 hour
From 149 USD
Start dates
Online
149 USD
Start anytime

Course description

Reading and Understanding a Corporate Insurance Policy

Gain an understanding of your company's insurance policies and provide guidance regarding the key coverages available to businesses.

In an era where natural and man-made disasters and accidents are commonplace and frequently involve liability associated with property damage, injury involving the use of social media and big data, it is imperative for business leaders and owners to be acutely aware of their company's insurance program. A well-managed and thoughtfully procured insurance program commonly provides a defense from a lawsuit, provides indemnity for any covered claim, settlement, or judgment, and provides coverage for property damage or business interruptions caused by natural disasters. This course will cover the most common forms of first and third-party insurance available for businesses, including property coverage, commercial general liability insurance (CGL), directors and officers liability (D&O), errors and omissions liability (E&O), cyber liability, and employment practices liability (EPLI) coverage. It will explain the core principles of insurance law that you should be mindful of when reading your policy that will inform your negotiation of the terms and conditions of the policy and understanding of the risks covered by the policy. The topic will conclude with an in-depth discussion of how to read and understand your corporate insurance policy, including the most significant terms and conditions, and emphasize how different areas of the policy may change depending on the type of coverage and risks at issue.

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Who should attend?

This live webinar is designed for presidents, vice presidents, directors, business owners, managers, and attorneys.

Training content

Why Understand a Corporate Insurance Policy?

Leading Types of Corporate Insurance Coverage

  • First-Party Insurance – Property, Builder's Risk, Cyber
  • Third-Party Insurance
    • Director and Officers
    • Errors and Omissions
    • Employment Practices Liability; Commercial General Liability
    • Cyber Liability
  • Primary vs. Excess Insurance
  • Additional Insured Rights

Insurance Principles to Remember When Reading and Understanding Your Policy

  • Start With Policy Language
  • Principles of Policy Construction
  • Burdens of Proof
  • Importance of Application
  • Curing Breaches by the Insured

Understanding Your Corporate Insurance Policy

  • Understanding the Declarations Page: Term, Policy Period, Limits, and Deductible/Retention
  • The Insuring Agreement: Claims Made vs. Occurrence-Based Coverage
  • The Defense Obligation
  • Common Exclusions
  • Key Terms and Conditions: Notice, Cooperation, Consent, and Settlement

The Power of Endorsements

Loss Control and Claim Submission Strategies

Certification / Credits

Credits: AIPB ,CLE,CPE

Learning Objectives

  • You will be able to explain the importance of your companys insurance program as a risk management tool and gain a better understanding of conduct that may be covered under your corporate insurance policies.
  • You will be able to identify the key issues and processes your company needs to address in its annual insurance renewal based on the individual needs of your business and the general forms used in the insurance industry.
  • You will be able to recognize common insurance pitfalls, including timely reporting of claims, the operation of annual policy periods and limits, and overcoming typical policy exclusions.
  • You will be able to review your corporate insurance policies to understand the level of coverage provided by your policies and your obligations under those policies.

About Lorman Education Services

Lorman Education Services - Live and On-Demand Courses

Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...


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Lorman Education Services

Lorman Education Services
2510 Alpine Road
54702 Eau Claire Wisconsin

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