Charles O’Connor Sr. VP & Manager for Commercial Market Liability Claims Liberty Mutual Insurance

PRLog (Press Release) - Sep 01, 2011 - Registration for the Bad Faith Mini Conference is now open at www.litmgmt.org/bf2011.
The Bad Faith Mini-Conference is an important and advanced half-day conference for industry, claim and legal professionals in the critical areas of insurance bad faith and coverage.  Expert industry panelists and moderators will lead three interactive and dynamic roundtables focused on avoiding bad faith claims in the adjustment process, strategic decisions by carrier and counsel after suit is filed, and tactics and objectives for success at trial.  The conference also includes breakfast remarks by Charles O’Connor, Senior Vice President and Manager of Commercial Market Liability Claims for Liberty Mutual Group.

Charlie O’Connor is Senior Vice President & Manager, Commercial Market Liability Claims, for the Liberty Mutual Group. As such, Charlie has overall responsibility for defining and delivering Liberty’s Commercial Market claim services countrywide for auto and general liability customers.
Previously, Charlie was the Vice President  & Manager of Middle Market Liability Claims and Assistant Vice President and Manager, Liability Claims, in the Liberty Mutual Group’s Examining Unit in Dover, NH. There he was responsible for oversight, management and evaluation of Liberty Mutual’s highest exposure liability claims for commercial market business.
Prior to these positions, Mr. O’Connor served in various legal and claims management positions including trial counsel & attorney of record in an active Long Island, New York practice. Charlie was also instrumental in the development of litigation management efforts for the Liberty Mutual Group.
Mr. O’Connor obtained his J.D. from St. John’s University School of Law in New York. He is a member of the New York State Bar, the American Bar Association and the Defense Research Institute.

About the Council on Litigation Management
The Council is a nonpartisan alliance of thousands of insurance companies, corporations, general counsel, risk managers, claims adjusters and attorneys. Through education and collaboration, its goals are to create a common interest in the representation by firms of companies, and to promote and further the highest standards of litigation management in pursuit of client defense. To learn more about the Council, please visit www.litmgmt.org
Contact: Adam Potter, Executive Director
Council on Litigation Management
212-724-2345

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Amity Insurance suggests specific questions when purchasing distressed commercial property

PRLog (Press Release) – Jul 13, 2011 – The economic downturn that has played out over the past few years has hit the real estate industry particularly hard; as such prices on some commercial properties have decreased significantly, attracting investors in search of good purchasing opportunities.  But potential buyers should look beyond the low buying price and consider a number of other equally important factors, according to Amity Insurance Agency, Inc., the region's leading full service agency.

Since many of these “reduced’ properties were only partially completed when the financial crisis hit, buyers should assess their economic viability and physical condition.  Questions that should be asked before entering into a purchase agreement include:

•   How much of the project has been completed and what remains to be done
•   Does any of the work need to be repaired or redone because the builder, facing financial difficulty, took shortcuts in material quality or construction
•   Do the original construction plans comply with current building codes and are there any design errors that need correction
•   What liabilities – including debt, lawsuits, penalties – will the buyer assume with the property
•   Who will be legally liable for any defects in the design or construction of the project
•   If the original owner and builder are responsible for the problems, can the buyer recover from those individuals
•   What insurance covered the original project; did one program apply to the entire project or did individual contractors have their own coverage
•   Will the insurance apply to construction defects
•   If a single wrap-up insurance policy covered the project, did it include a deductible or self-insured retention; if so, and the insured owners or contractor has declared bankruptcy and is unable to pay it, will the insurance still apply
•   Does the original wrap-up policy extend completed operations coverage beyond the policy’s expiration date and if so, for how long

Prospective buyers should pay special attention to builders risk insurance on the project.  If the original developer purchased this coverage, the policy may have cancelled after work on the project ceased.  A policy purchased by the general contractor may still be in force, but the buyer should review its terms and conditions carefully. The buyer should also check to see if the policy covers catastrophic events, such as flooding and tornadoes.

A property may have a low price, but it’s no bargain if it comes with a host of issues.  Arranging insurance on a property with severe problems may be difficult; an insurance 1916331769  agent or broker experienced in obtaining coverage for such properties can help sift through the issues and identify appropriate policies.

About Amity Insurance
Amity Insurance Agency, Inc. is a full-service agency dedicated to meeting your business, professional and personal insurance needs.

Amity Insurance is licensed in most states. The agency maintains headquarters at 500 Victory Road, North Quincy 02171.  For information on products or services, please visit www.amityinsurance.com or call (800) 940-4010 to schedule a free analysis of insurance needs.

PR First is a public relations firm. Our mission is to help businesses to gain name recognition. We accomplish this through campaigns that result in positive exposure for our clients in newspapers, magazines, industry journals, and electronic media.

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