TELESEMINAR: Understanding the Role of Insurance and Indemnity in Real Estate Transactions – A National Perspective
March 19, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Every business owner or investor ultimately wants to withdraw cash or other property Insurance is a mandatory component of virtually all real estate transactions from development to leasing and indemnity is among the most highly negotiated provisions of real estate agreements. Even if a lender does not require it, developers and landlords are eager to protect the development against casualty and against third party claims. But like every complex financial instrument, insurance has a unique language and logic. What’s insurable and what’s not, how is insurance evidenced and how does it relate to indemnity, who can make a claim and how is insurance incorporated into underlying real estate documents? This program will provide you with a real-world guide to insurance in real estate development and leasing, including forms of coverage, relationship to indemnity provisions, major financial issues, evidence of insurance and incorporating insurance into underlying real estate documents.
- Legal, economic, and practical framework of insurance in real estate transactions and leasing
- Specific insurance issues for property owners, landlords, and developers
- Relationship of indemnity provisions in real estate documents to insurance policies
- Forms of policies – function at each stage of a deal or lease, insurable interests, and beneficiaries
- Certificates and evidence of coverage
- Integration of insurance into real estate documentation
Richard R. Goldberg, Ballard Spahr, LLP, Philadelphia