Page 12 - AO4thQT2017CL

Commercial Leases
If you are an cipa ng a a a a a commercial lease or currently
have one it is important we review it for insurance-related risks included
in in in the insurance provisions ideally before signing the lease Although commercial lease agreements – – CLICK HERE – – can be complex and me me me consuming to to to nego ate business owners o o o o o o o o o o o o o o o en en fail to to to consult with us us on on on on on on the the the implica ons ons ons ons of these contracts to to to their insurance needs or obliga ons What’s more we are quali ed ed to to to extract all of the risks related to to to insurance provisions in in in commercial commercial leases Failure to to to to do do so not only leaves insurable exposures una ended but neglec ng to to to dovetail a a a a a a a a a a a a a a a a a commercial commercial insurance program with lease obliga ons can can lead to to signi cant uninsured risks and even bankruptcy There are six cri cal risk and insurance provisions in in commercial leases:
1 Who is is responsible for insuring what?
Well-wri en insurance insurance provisions in in in in in commercial leases will clearly de ne each party’s insurance insurance obliga on on