Owned Building with Several Types of Businesses in It

[NCAgent]

i had a case like this, the building coverage was easy, just listed all the llcs as additional insured,

but finding a carrier that would take liability coverage was hard. basically they tell me it will be a claim hell issue. each carrier will try to push the liability on the other.

i think one company wanted a map of exactly which section belongs to which, but then the issue comes up if the client of either company is walking and trip on the other companies "section"


also couldnt the the LLC on the premise buy a bop policy to cover the whole floor? and have enough business get their own for their property and their liability other than getting hurt on premise

I think that is what the owner tried to do. He has a BOP on the entire building. I talked with an underwriter and he said that the businesses owned 100% by him can be listed as a named insured but the other two need their own policy as well with the LLC of the building listed as an additional insured. He also said it would be good to have defined spaces for each area for claims issues.

I don't know how the owner thought he could have the entire building covered by the BOP including the areas used by other businesses but I'm not an expert on commercial insurance as well. Sounds like it would be carrier-specific and that there is a gray line on how this is handled depending on the claims scenario.

 

[iiinycboi]

yeah, i've "heard" the carriers will keep kicking the ball to the other carrier and deny claim. it will be such a headache. unless all the bops are same company lol.

 

[Guest]

I think that is what the owner tried to do. He has a BOP on the entire building. I talked with an underwriter and he said that the businesses owned 100% by him can be listed as a named insured but the other two need their own policy as well with the LLC of the building listed as an additional insured. He also said it would be good to have defined spaces for each area for claims issues.

I don't know how the owner thought he could have the entire building covered by the BOP including the areas used by other businesses but I'm not an expert on commercial insurance as well. Sounds like it would be carrier-specific and that there is a gray line on how this is handled depending on the claims scenario.

Pretty much what I said right? and TI- Tenant improvements, such as they built their own offices inside the building, anything they added to the structure