Goldberg & Connolly Partner Mitchell B. Reiter Presents on Risk Management in Commercial Transactions for Risk and Insurance Management Society’s Long Island Chapter

Goldberg & Connolly Partner Mitchell B. Reiter Presents on Risk Management in Commercial Transactions for Risk and Insurance Management Society's Long Island Chapter Goldberg & Connolly is pleased to announce that Partner Mitchell B. Reiter presented Risk Management in Complex Commercial Transactions -Construction & Beyond for members of the Risk and Insurance Management Society (RIMS) Long Island Chapter. The meeting took place on September 24, 2013 in Woodbury, NY.

RIMS members enjoyed a thorough and informative presentation on various related subjects, include reviewing recent changes to liability policy, insurance provisions and structured insurance programs. Mr. Reiter discussed higher primary liability limit requirements, the necessity of reviewing each contractor's insurance provisions and requirements to properly structure an insurance program that protects profits.

Mr. Reiter also detailed the dangers in relying solely upon Association for Cooperative Operations Research and Development (ACORD) Certificates of Insurance. In addition, Mr. Reiter explained how policy endorsements and exclusions can actually consume coverage, and how risk shifts though Additional Insured endorsements and Indemnity Agreements.
RIMS members gained valuable insight into the concept of horizontal exhaustion, a legal theory requiring certain insured people to exhaust all primary policy limits before invoking surfeit coverage. Mr. Reiter also illustrated how members can preserve additional insured coverage that subcontractors provide.