Published In Insurance Law360, January 6, 2011
Understanding ownership interests and insurance obligations for
tenant improvements and betterments, furniture, fixtures and
equipment, and other "personal property" within leased
premises can be tricky, with multiple factors involved in the
analysis. In the event such property is damaged or destroyed,
landlords, tenants and their property insurers must take into
account the obligations of the landlord and the tenant under any
lease in effect at the time of a loss, as well as the coverage
provided by the landlord's insurance policy and tenant's
insurance policy. The applicable language of those various
contracts is often in conflict and can be less than crystal clear,
creating considerable ground for dispute as to which party is
economically responsible for the damaged or destroyed property.
Further, the interpretation and application of relevant lease terms
and policy language can vary from one jurisdiction to
