Open Cargo Policies - The Misappropriation Exclusion

 
Tuesday 19 December 2017, 12:00pm - 01:30pm
     

Lunch and Learn

Online Registration »  

Fee:                 $20 members and non-members.
                        This fee is for in person and remote. 

Presenter:          

Nooshin Namazi
Partner
Nicoletti Hornig & Sweeney

Description:   

Ms. Namazi will present for 60-minutes on Open Cargo Policies: The Misappropriation Exclusion.  All-risk insurance covers all causes of loss to property unless specifically excluded. The Misappropriation Exclusion can be an important mechanism to exclude certain risks that are best managed through contractual arrangements, fidelity bonds and risk-specific insurance (e.g., crime). These risks include losses due to insider theft, fraudulent inventory records and fraudulent purchase-sale transactions.  It is imperative that the exclusion clearly describe who is covered by the exclusion and what acts are excluded.  This talk will discuss various versions of this exclusion used in the market, and specific court decisions interpreting terms such as “other party of interest” and “agent”.   Don’t get caught unawares. Presentation to conclude with Q&A.

CE Credits:      AIMU has applied for one CE credit in NY for P&C Agents & Brokers License.  You must attend in-person to be eligible for CE.

Location AIMU Training Room at 14 Wall Street, Suite 820, NY, NY 10005
Contact Elvira Rodin at erodin@aimu.org or 212-233-0550

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