COURSE DESCRIPTION
Indemnification and hold harmless agreements are part of virtually every real estate transition. These agreements protect parties against financial loss or other liability arising from the occurrence of certain events. Indemnification is often backed by insurance policies. The interaction between indemnification provisions – scope, triggering events, assertion of claims and payment – and funding sources is typically very complex. This program will provide you with a real-world guide to indemnification and insurance in real estate development, ownership, and leasing.
- Forms of indemnification in real estate
- Scope of indemnity, triggering events or discoveries, ensuring payment of claims
- Utilizing insurance policies to guarantee and fund indemnification claims
- Types and roles of various forms of insurance – casualty, business/rent interruption, CGL
- Important differences among named insureds and additional insureds
- Drafting interaction of co-insurance, valuation, and agreed value endorsements
Speaker:
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.