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The State of Nevada has only approved this course for 3 credits of Property & Casualty and 3 credits of Ethics.
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OVERVIEW AND TOPICS
Contractual Liability Confusion
The objective of this 4-hour session is to help insurance professionals better understand contractual liability coverage. After an overview of contractual risk transfer, they will identify contract issues encountered when entering into hold-harmless agreements, indemnification agreements, leases, and construction contracts. They will discuss various categories of indemnity agreements including why some may be void and unenforceable, potential defenses to indemnity, and the mechanics of third party over actions. Specific issues related to Additional Insured status will be examined and alternative ways to minimize insurance coverage conflicts will be discussed. They will discuss waiver of subrogation versus waiver of all rights of recovery. Using straightforward examples, they will be able to apply these principles to ever more complex situations and enhance their overall command of an often-misunderstood aspect of contractual liability.
Construction Court Cases and Issues
In this session, agents will identify construction exposures that could have a significant impact on their client’s business. They will discuss faulty workmanship, general contractors, subcontractors, defective work, insurance requirements common in construction contracts and why they are important, and exclusions. Using construction court cases, they will examine the exposures, coverage issues, gaps, and pitfalls with traditional property and casualty insurance policies and explore possible insurance solutions to these unique risks.
Leased & Rented Property - The Contract vs. Coverage
Participants will identify potential loss exposures that exist when insuring leased real and personal property and learn the basic and optional coverages available to treat these exposures. They will learn a systematic process to analyze contractual obligations in relation to standard insurance policy provisions and to identify potential gaps in coverage. They will review common provisions found in real, personal property leases, examine important loss exposure and coverage issues when insuring tenant improvements and betterments, and learn how to provide the protection their client needs. They will evaluate how the Commercial General Liability (CGL) Policy compliments and conflicts with Business Auto Policy and Personal Auto Policy coverage provided for leased and rented mobile equipment and/or autos.
Solving the Mysteries of Business Income Coverage and Claims
Adjustment of a business income loss is an art rather than a science. A successful conclusion is when a claimant seeks an agreement that the insured has returned as closely as possible to the same financial position that would have existed if no loss had occurred. Examine the business income and extra expense insurance risk analysis process, application completion, worksheet considerations, limit of insurance, coverage issues, and negotiating a loss of income or extra expense claim. Discuss key differences in writing manufacturing and mercantile risks.
