Co-insurance is an office insurance policy is an important clause, which is defined as the ‘sharing of risk’ between multiple insurance companies. Usually, one insurance company leads the policy document. And the insurer would be responsible for different aspects of the policy document, including the claim. In such a case, the insurance company will levy […]
Search Results for: What Is Tenants Legal Liability Under Office Insurance?
Here's what we've found for you
Type of Warranties under Office Insurance Policy and their significance.
Warranty ‘s meaning in Office Insurance Policy implies an agreement that is there at the time of the policy inception and will be there throughout the policy tenure. There will be no variation in the terms and conditions of the policy without the written consent of the insurer. For the purpose of the warranty, the […]
Reinstatement Value Clause in Office Insurance Policy
The reinstatement Value Clause (RVC), defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is Reinstatement […]
What Is Tenant’s Legal Liability Under Office Insurance?
Many businesses rent the premises and assets on the premise to operate the office. In the case of a burglary, fire, or another incident, both assets belonging to the owner of the premise and the tenant, can be damaged. In the case of damage to the owner’s assets (used by the tenant), the liability falls […]
Commercial general liability (CGL) insurance
Q1. What is Commercial General Liability (CGL) and why, as a business owner, you need it? Commercial general liability insurance, or CGL, is coverage that will protect your business in the event that you are sued by a third party for bodily injury and property damage. It is often used to cover claims against your […]
What do you mean by Errors and Omissions Insurance in Real Estate?
As a real estate professional or a broker involved in the property market, you may be committed to your clients. However, what if you advise your client to invest in a particular property deal that turns out to be wrong? You might be sued by the client. If God forbid, the verdict goes against you, […]