Mall - (landlord's Liability ) and ( CGL )insurance

[ksa]

Hi everyone,

My client's operation is Mall Shopping center. His main income as lessor from renting his property for another parties.


I have two questions :

1- I'm wondering about (landlord's liability ) and ( CGL ) .

which one of these will protect him as Mall from his tenants in case the tenant's( stocks , inventory, properties ..etc ) got damaged due to Fire or any perils happened because of the Mall's operations ?


2- ( Rent Clause ) : Insurer Protection on rent applies only if ( any of) the said building(s) or any part thereof is unfit for occupation in consequence of its destruction or damage and then the amount payable shall not exceed such proportion of the insurer benefits on rent as the period necessary for reinstatement bears to the term of rent covered .

Regardless of covering wages of insureds' employees, Is it right that I don't need for (loss of profit ) insurance since this clause exited in the cover?

Regards,

 

[djs]

Are you writing the commercial policy for the mall?

For commercial policies, if you have coverage questions, you should talk to the underwriter for the carrier. There are so many differences based on who the carrier is, what the type of coverage is, it can be hard to speak in generalities, or worse, you get a general answer that may not apply to the specific situation.

Also, I have no idea what you are asking about on #2 in regards to the rent. Coverage for loss of rental income is a huge necessity for a mall owner.

Dan

 

[Sales71]

He needs to have the tenant buy bop buiness owner policy. It will have all the stuff ur concern about covered.

 

[Harvardbenefits]

Hi,
Also new here, however, I was in retail and rented from a strip mall owner. The lease had minimal responsibility to the mall owner, the main building, roof, plumbing and electrical TO my unit not inside. The services were under the NNN contract and divided by actual cost for the services, total plaza square footage and your percent of occupation was your share of the monthly services. We had fire and content coverage with a rider covering the mall to a set amount incase the fire, or other damage, was "our fault". The liability coverage, again was on the rental unit and umbrelled to the mall. Short of the main roof falling in, the mall was responsible for about nothing. The lease was about 20 pages.