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BRIEFING: Mitigating Losses: Tips for Managing Commercial Contracts and Insurance Recovery During COVID-19

As a result of the COVID-19 pandemic, colleges and universities were required to very quickly alter their day-to-day operations and, in many cases, shut down large portions of their physical campuses in order protect the health and safety of the campus community. These drastic operational changes have significantly impacted the ability of some colleges and universities to fulfill contractual requirements with their vendors. Whether it be a cancelled sporting event or plans to upgrade a campus building, institutions must determine how they can best resolve their inability to move forward on many contracts. Additionally, as institutions experience financial losses due to the pandemic, they will look to their insurance policies as a way to possibly mitigate losses.

Please join us for a NACUA Briefing with Patricia Jendraszek, Assistant General Counsel, Teachers College, Columbia University; Art Lee, Deputy General Counsel, University of Arizona; and Rachel Pluviose, Director, Risk Management & Insurance, Johns Hopkins University. Our presenters will share their expertise regarding how to navigate commercial contracts and insurance claims during this challenging time. They will address key legal and practical considerations in light of the COVID-19 pandemic, such as: steps to take when unable to fulfill contract terms; how to respond when a vendor fails to perform as promised; invoking possible defenses to nonperformance (including a discussion of force majeure provisions); identifying possible sources of insurance recovery; and what elements an institution will likely have to satisfy in order to receive coverage.

This 30-minute briefing will be audio-only and will be complimentary to NACUA members.