What Every Party Needs to Know About Insurance Before Signing a Lease
Description
On this episode of Terra Firma: Conversations on Commercial Real Estate, attorneys Stacey Tyler and Stephen Tanico discuss the intersection of insurance and real estate law with Lynda A. Bennett, chair of Lowenstein's Insurance Recovery Group, exploring some of the critical insurance issues that every landlord or tenant should consider before entering into a lease. They warn against clauses that are either too simple (“The usual and customary insurance will be put in place”) or too complicated. They emphasize the importance of having a broker who really understands your business and of fully understanding the scope of your insurance coverage; they also explain the definitions and differences of terms like ‘additional insured’ vs. ‘loss payee,’ or ‘umbrella’ policy vs. ‘individual’ policy.
Speakers:
Lynda A. Bennett, Partner and Chair, Insurance Recovery
Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Associate, Real Estate
United States
