Understand tenant liability insurance and various terms, conditions, and exclusions that you will need to navigate the coverage for losses.
Many landlords are forced to bear the solvency risk of their tenants’ lease promises to repair damage or to indemnify the landlords for liabilities to third parties arising out of the tenants’ operations and activities in the demised premises. These exposures are often much larger than security deposits held. This program will help you understand the types and kinds of policies a tenant is often required by lease to purchase and how these policies respond to the risks discussed above.
A tenant liability insurance program or tenant’s purchase of liability and property policies are designed for landlords to protect the landlord’s’ own insurance limits, deductibles, and assets in the event of loss or damage to the leased premises or liability for losses suffered by third parties as the result of the tenants’ actions. By purchasing such tenant liability insurance on behalf of their tenants, landlords can choose the insurance companies, ensure the premiums are paid for such insurance, and can assess the premiums to the tenants as additional rent under the lease.
This topic helps landlords and tenants, and their risk management and legal professionals understand tenant insurance requirements and the various terms, conditions, and exclusions that landlords and tenants will need to understand in navigating their way to coverage for the losses that could occur.
Learning Objectives
- You will be able to identify the significant provisions of the landlord liability insurance policy and the risks they insure.
- You will be able to recognize the significant provisions of the property and business interruption insurance policy and the risks they insure.
- You will be able to discuss with landlord or tenant clients tenant liability insurance programs and compare such programs to the more standard commercial insurance packages.
- You will be able to review with landlord or tenant clients whether there is compliance with lease provisions requiring tenant to purchase certain types and amounts of insurance.
Agenda
Significance of Insurance
General Insurance Principles
Tenant Liabilities
What Is Tenant Liability Insurance?
- First-Party Property and Business Interruption Insurance
- Third-Party Liability Insurance
Property and Business Interruption Insurance
- Insuring Agreement Issues
- Terms and Conditions
- Exclusions
Liability Insurance
- Insuring Agreement Issues
- Terms and Conditions
- Exclusions
- Personal and Advertising Injuries
- Umbrella and Excess Liability
Questions and Additional Resources
Speakers
Robert E. Frankel, Esq., AIF®,
Investments & Wealth Institute- Has worked in a variety of legal roles since graduating from Loyola Marymount University School of Law in 1992
- General Counsel at The Investments & Wealth Institute in Greenwood Village, Colorado; has been with the Institute for 10+ years
- Served as Deputy City Attorney for the City of Colorado Springs, Director and Senior Corporate Counsel at DISH Network LLC, and Law Clerk for The Honorable John R. Padova of the US District Court for the Eastern District of Pennsylvania
- Was a shareholder at the law firm of Anderson Kill & Olick, P.C. for nearly 13 years, practice concentrated primarily in real estate litigation on behalf of owners, developers, and landlords and insurance recovery and bad faith litigation solely on behalf of policyholders
- Has written and lectured extensively on various insurance coverage topics including topics involving the intersection of real estate and insurance recovery
- Has three published treatises: Insurance for Real Estate Related Entities (Fast Case 2019), Business Insurance (Fast Case 2019), Insuring Real Property Businesses (Law Journal Press September 2007)
- Has also published numerous articles in various periodicals
- Has lectured extensively on areas within his expertise
- Member in good standing of the Bars of the Supreme Courts of California, Colorado, and Pennsylvania, the United States Courts of Appeals for the Third and Sixth Circuits, and the United States District Courts for the Eastern District of Pennsylvania, Middle District of Pennsylvania, and the District of Colorado
- J.D. degree, Order of the Coif, Loyola Marymount University Law School; B.A. degree in economics, University of California at Berkeley
- Can be contacted at 303-850-3082 or rfrankel@i-w.org
Who Should Attend
This live webinar is designed for attorneys, presidents, vice presidents, property managers, landlords, real estate agents and brokers, insurance professionals, loan officers, accountants, and real estate investors.
