We request each customer’s cooperation in supplying the Landlord with an insurance certificate demonstrating coverage that meets the requirements of your lease and naming the Landlord and management company as additional insured parties.
Specific details of required insurance are covered in your lease. For most tenants the following coverage is required.
- Tenant, at its sole expense, shall obtain and keep in force during the term of this Agreement, comprehensive general public liability insurance approved by Manager, naming both Owner and Manager as additional insured in amounts not less than Two Million Dollars ($2,000,000) against any and all claims or property damage. Such policy or policies of insurance shall insure against loss, injury, death or damage to persons or property of the public, Owner or Manager, and their respective Directors, Officers, Employees, Agents, Patrons or Customers.
- Such liability insurance shall specifically cover the contractual obligation of Contractor under the indemnity provision contained in this Agreement, and shall also cover contractor's operation, management and conduct of all its business activities and any attendant facilities and services.
- All insurance policies shall be issued by companies and in forms satisfactory to Manager and shall expressly provide that its insurance company or companies shall notify Manager in writing at least thirty (30) days prior to any alteration or cancellation thereof. Contractor will forthwith provide Manager with current certificates of such insurance prior to the commencement date of this Service Contract.
- Tenant agrees that if it does not procure all such insurance and keep same in full force and effect, Manager as its option and subject to its rights of reimbursement from Tenant may obtain such insurance and pay the premium therefore. The adequacy of the coverage afforded by said liability insurance shall be subject to review, by Manager from time to time and if it appears as a consequence of such a review that a prudent businessman in the area operating businesses similar to those operated by Contractor, should increase the limits of his liability insurance, Tenant shall, to that extent, forthwith increase such limits.
The following entities should be named as additional insured:
The Buccini/Pollin Group Inc., BPGS Construction LLC, and their respective parent, subsidiary, partnerships, and affiliated companies, including companies under common ownership, and their successors; and each of their respective officers, directors, agents, shareholders, partners, and employees (collectively ‘BPG’ ) and the Owner are to be named as ‘additional insured’ on a primary and noncontributory basis and all liability insurance except Employers Liability and Professional Liability. Additional insured status shall apply to General Liability Completed Operations coverage. All policies, including Workers Compensation, shall provide for a waiver of subrogation in favor of the additional insured parties.
Please have your insurance company forward a certificate of insurance, updated for each policy period to the management office.