Insurance Overview for Office Tenants

Insurance is one of the keys to addressing the risk of casualty.  Tenants need to keep in mind and remind the landlord that they are paying for the insurance through their rent either directly as an Operating Expense or indirectly through its gross rent.  

While office leases are drafted by landlords, they impose obligations on the tenant for insurance, but are usually silent on what insurance landlords are required to carry.  Savvy tenants need to carefully review this provision with their risk managers and insurance agents to be sure they have adequate coverage as does the landlord.  Below is a quick recap of key insurance concepts that should be considered in an office lease.

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