Commercial Lease Negotiations: Property and Liability Insurance, Proof of Coverage, AI and Loss Payee Issues
Structuring Lease Provisions to Require Coverage and Receive Benefit of Coverage Provided
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will address casualty and liability insurance issues applicable to real estate leasing from the perspective of both landlord and tenant. The program will discuss the necessary coverage and recommend contract provisions to require insurance coverage and receive the maximum benefit of the coverage. The program will also address key coverage issues such as exclusions, proof of coverage, additional insured and loss payee parties, and primary/excess coverage.
- Intro – nuts and bolts – common terms
- Interrelation between property and liability coverage
- Casualty insurance – liability insurance
- Scope and exclusions for losses specific to tenant and landlord
- Coverage for noncovered indirect losses
- Business interruption
- Rental income loss
- “All risk” vs. named or “special form” perils
- Measure of recovery (replacement cost vs. actual cash value)
- Tenant improvements
- Computer and media loss
- CGL Insurance
- Scope, exclusions and limits
- Accessing another party’s coverage
- Contractual liability coverage
- Additional insured
- Custody, care or control
- Certificates of insurance
- Matching indemnity and casualty restoration obligations with insurance
The panel will review these and other key issues:
- What are the relevant issues for the parties to consider in assessing the appropriate protection under a casualty policy?
- What are best practices for drafting risk allocation and insurance provisions?
- How can counsel ensure that contractually required AI coverage is satisfied by the named insured’s policy?
Frascona Joiner Goodman and Greenstein
Sidney G. Saltz
Mr. Saltz has been involved, on behalf of foreign and domestic clients, in all types of commercial real estate... | Read More
Mr. Saltz has been involved, on behalf of foreign and domestic clients, in all types of commercial real estate transactions, including development, leasing, acquisition and sale, financing, 1031 exchanges and construction contracts. As an active member of the Real Property Trust and Estate (RPTE) Section of the ABA, he has served as Chair of the RPTE Leasing Group, among other positions. Mr. Saltz has lectured extensively on real estate related subjects.Close