Presentation slides and materials from CLE June 10, 2019 to the Oregon State Bar Real Estate and Land Use Section

1. Insurance for Real Estate Lawyers
Presented by
Seth H. Row
Miller Nash Graham & Dunn LLP
June 10, 2019

2. A Horror Story
 Dad owned warehouse
 Sons' business leased space in warehouse for metal fab shop
 Business bought insurance (BOP) ‐ Dad named insured;
business "additional insured"
 "Additional insured" endorsement one of TWENTY
endorsements
 Fire – warehouse destroyed
 Business income coverage for sons’ business? Denied
 Trial court: actual intent does not matter
 COA AWOP'd last week
 Lesson: Details in policy matter

3. Today’s Agenda
 Key Insurance Terms to Understand (15 mins)
 Insurance Requirements in Real Estate Transactions (15
mins)
• Substantive Requirements
• Additional Insured Requirements
• How to Document Compliance with Insurance
Requirements
 Waivers of Subrogation (5 mins)
 Loss Payee and Mortgagee Clauses & Endorsements (5
mins)
 Q&A (5 mins)

4. Key Insurance Terms to Understand
 First named insured v. named insured v. additional named
insured
 Additional insured
 Separation of insureds
 Actual cash value v. replacement cost value
 First‐party insurance ‐ property
 Third‐party insurance ‐ liability
 Claims‐made v. occurrence
 Subrogation (waiver of…)
 Aggregate limit
 Blanket coverage
 Coinsurance penalty

5. Substantive Requirements

6. Property Coverage
 Replacement cost value (RCV) – not actual cost value (ACV)
 No non‐standard exclusions ‐ require common forms be used
 Cause of Loss – “Special” form (CP 10 30) – “all risk”
 No coinsurance penalty ‐ or use agreed value endorsement (or
both)
 Ensure aggregate value is sufficient for non‐RCV losses
 Disfavor sub‐limits and per‐occurrence limits
 Disfavor blanket policies (esp. if coverage includes inventory or
multiple properties)
 Low or no deductible
 (Additional) named insured

7. Sample Property Clause
Tenant, at its sole cost and expense, shall purchase and keep
in full force and effect, property coverage insurance covering
at full replacement cost and without sub‐limit, coinsurance, or
per‐occurrence limit, and with a deductible not exceeding
$_____, those portions of the Premises which Tenant is
required to maintain and repair pursuant to this Lease, which
include all leasehold improvements in the Premises, whether
installed by Landlord or Tenant (including, without limitation,
the entire storefront, all ceilings, interior walls, floor
coverings, glass, and the HVAC equipment serving the
Premises) and all of Tenant's furnishings, fixtures, and
Personal Property in the Premises. Such insurance must cover
causes of loss on an "all risk"/"special form" basis and be
subject to no non‐standard exclusions or endorsements.

8. Business Income/Loss of Rent
 Business income (“BI”) (f/k/a "interruption")
insurance replaces revenue following physical loss or
damage – see standard business income form (CP 00 30)
 Loss of rental income insurance covers a landlord for the
interruption of its rental income stream resulting from the
same event
 Business income/loss of rental income insurance often
payable to the lender
 Pay attention to:
• Time limits (12 months is common)
• Dependent business income loss issues
• Code enforcement/land‐use restrictions

9. Sample BI Clause
Business Income Insurance. Tenant, at its sole
cost and expense, shall purchase and keep in full
force and effect business income insurance
(including extra expense coverage) in an amount
sufficient to cover lost profits and overhead,
including Rent, for a period of not less than
twelve (12) months post‐loss.

10. Liability Coverage
 CGL: Bodily injury, property damage, personal/advertising
injury
 Exclusion: to property owned by or rented to the insured,
or property under the insured's custody and control ‐ may
be a sub‐limit
 Bailment businesses (e.g. repair shop) will have separate
coverage for others' property
 Tenant: negotiate to limit the tenant's indemnification
obligation to only claims for bodily injury or property
damage
 Commercial auto liability
 Workers' compensation

11. Sample Liability Clause
Liability Insurance. Tenant shall, at Tenant's sole cost and expense,
obtain and keep in force during the Term of this Lease Commercial
General Liability insurance covering bodily injury and property
damage, insuring Landlord and Tenant, and any lender(s) whose names
have been provided to Tenant in writing (as additional insureds),
against any liability arising out of the ownership, use, occupancy, or
maintenance of the Premises and all areas appurtenant thereto. Such
insurance shall carry limits not less than $____ per occurrence. The
policy shall insure performance by Tenant of the indemnity provision
of this Article ___. The limits of said insurance shall not, however, limit
the liability of Tenant hereunder. All insurance to be carried by Tenant
shall be primary to and not contributory with any similar insurance
carried by Landlord, whose insurance shall be considered excess
insurance only. In addition, Tenant shall maintain workers'
compensation insurance and commercial automobile insurance and
such other liability coverage as is required by the Laws of the State.

12. Other Coverages
 Employer's liability (supplement to workers' comp)
 Builder's risk
 Liquor liability
 Pollution legal liability insurance
 Flood insurance
 Earthquake insurance
 Commercial crime
 Terrorism insurance
 Cyber insurance

13. Additional Insured Requirements
 Liability coverage concept
 Biggest benefit: defense costs
 Primary & non‐contributory
 Ongoing and completed operations
 Written agreement & privity

14. Sample Additional Insured Clause
Lessor and all of its subsidiaries, employees, agents, representatives, and
principals, and anyone else stipulated under this Agreement (collectively,
“Additional Insureds”) are to be expressly or via blanket endorsement named
as Additional Insureds under the liability insurance policies required under
this Agreement, including but not limited to Lessee's General Liability
Policy/ies.
Such policies shall provide coverage to the Additional Insureds for liability due
to bodily injury, personal and advertising injury, and property damage
"arising out of" the "operations" of Lessee, both ongoing and completed.
Such policies shall stipulate that the insurance afforded the Additional
Insureds shall apply on a primary and non‐contributory basis and that any
other insurance carried by any of the Additional Insureds will be excess only
and will not contribute with the insurance coverage provided under Lessee's
policies.

15. Waivers of Subrogation
 Waiver of liability concept
 Waiver of subrogation
• We will each rely on our own property insurance
to cover
• Avoid claims between parties
 Problems

16. Sample Waiver of Subrogation Clause
Release. Provided its right of full recovery under its insurance policy is
not adversely affected, Landlord and Tenant each hereby releases the
other (and the other's agents and employees) with respect to any
claim (including a claim for negligence) it may have against the other
for damage or loss covered by its property insurance (including
business interruption and loss of rent). Landlord and Tenant shall, to
the extent obtainable, each procure a clause in, or endorsement on,
any property insurance carried by it, under which the insurance
company waives its right of subrogation against the other party to this
Lease and its agents and employees or consents to a waiver of the
right of recovery against the other party to this Lease and its agents
and employees. If an additional premium is required for the waiver or
consent, the other party shall be advised of that amount and may, but
is not obligated to, pay the same. If that party elects not to pay the
additional premium, the waiver or consent shall not be required in
favor of that party.

17. Loss Payee and Mortgagee Clauses &
Endorsement
 Concept: direct payments made by a borrower's insurer to
the lender first ‐ written into the property policy
 A form of indemnity protection for the lender ‐ loss or
damage to collateral property results in indemnity to lender
 Standard mortgage clause – contained in ISO form already
• Insurer pays covered loss to mortgage holders in order listed in
policy
• Even if the policyholder has breached, mortgage holder still paid
if it "cures" the breach
• Notice of cancellation
 Loss payee endorsement: does not give same protections

18. How to Document Insurance
 Certificate of insurance, alone, not enough
 Different ACORD forms – all w/problems
 Binder
 “Dec” page plus schedule of forms
 Key endorsements
 Notice of cancellation
• By endorsement only

19. Thank You
Seth H. Row
Miller Nash Graham & Dunn
seth.row@millernash.com
503.205.2318
Advising Oregon Business, Ch. 48
www.nwpolicyholder.com
Twitter: @sethrow

20. POLICY NUMBER: COMMERCIAL PROPERTY
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CP 12 18 10 91 Copyright, ISO Commercial Risk Services, Inc., 1990 Page 1 of 2 oo
LOSS PAYABLE PROVISIONS
This endorsement modifies insurance provided under the following:
BUILDING AND PERSONAL PROPERTY COVERAGE FORM
BUILDERS' RISK COVERAGE FORM
CONDOMINIUM ASSOCIATION COVERAGE FORM
CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM
STANDARD PROPERTY POLICY
SCHEDULE
Provisions Applicable
Loss
Payable
Lender's
Loss Payable
Contract
Of Sale
Prem.
No.
Bldg.
No.
Description
of Property
Loss Payee
(Name & Address)
A. When this endorsement is attached to the STAN-
DARD PROPERTY POLICY CP 00 99 the term
Coverage Part in this endorsement is replaced by
the term Policy.
The following is added to the LOSS PAYMENT Loss
Condition, as indicated in the Declarations or by an
"X" in the Schedule:
B. LOSS PAYABLE
For Covered Property in which both you and a
Loss Payee shown in the Schedule or in the Dec-
larations have an insurable interest, we will:
1. Adjust losses with you; and

21. Page 2 of 2 Copyright, ISO Commercial Risk Services, Inc., 1990 CP 12 18 10 91 oo
2. Pay any claim for loss or damage jointly to you
and the Loss Payee, as interests may appear.
C. LENDER'S LOSS PAYABLE
1. The Loss Payee shown in the Schedule or in
the Declarations is a creditor, including a
mortgageholder or trustee, whose interest in
Covered Property is established by such writ-
ten instruments as:
a. Warehouse receipts;
b. A contract for deed;
c. Bills of lading;
d. Financing statements; or
e. Mortgages, deeds of trust, or security
agreements.
2. For Covered Property in which both you and a
Loss Payee have an insurable interest:
a. We will pay for covered loss or damage to
each Loss Payee in their order of prece-
dence, as interests may appear.
b. The Loss Payee has the right to receive
loss payment even if the Loss Payee has
started foreclosure or similar action on the
Covered Property.
c. If we deny your claim because of your acts
or because you have failed to comply with
the terms of the Coverage Part, the Loss
Payee will still have the right to receive loss
payment if the Loss Payee:
(1) Pays any premium due under this Cov-
erage Part at our request if you have
failed to do so;
(2) Submits a signed, sworn proof of loss
within 60 days after receiving notice
from us of your failure to do so; and
(3) Has notified us of any change in owner-
ship, occupancy or substantial change
in risk known to the Loss Payee.
All of the terms of this Coverage Part will
then apply directly to the Loss Payee.
d. If we pay the Loss Payee for any loss or
damage and deny payment to you because
of your acts or because you have failed to
comply with the terms of this Coverage
Part:
(1) The Loss Payee's rights will be trans-
ferred to us to the extent of the amount
we pay; and
(2) The Loss Payee's rights to recover the
full amount of the Loss Payee's claim
will not be impaired.
At our option, we may pay to the Loss
Payee the whole principal on the debt
plus any accrued interest. In this event,
you will pay your remaining debt to us.
3. If we cancel this policy, we will give written
notice to the Loss Payee at least:
a. 10 days before the effective date of cancel-
lation if we cancel for your nonpayment of
premium; or
b. 30 days before the effective date of cancel-
lation if we cancel for any other reason.
4. If we elect not to renew this policy, we will give
written notice to the Loss Payee at least 10
days before the expiration date of this policy.
D. CONTRACT OF SALE
1. The Loss Payee shown in the Schedule or in
the Declarations is a person or organization
you have entered a contract with for the sale of
Covered Property.
2. For Covered Property in which both you and
the Loss Payee have an insurable interest we
will:
a. Adjust losses with you; and
b. Pay any claim for loss or damage jointly to
you and the Loss Payee, as interests may
appear:
3. The following is added to the OTHER INSUR-
ANCE Condition:
For Covered Property that is the subject of a
contract of sale, the word "you" includes the
Loss Payee.

22. POLICY NUMBER: COMMERCIAL GENERAL LIABILITY
CG 20 18 04 13
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CG 20 18 04 13 © Insurance Services Office, Inc., 2012 Page 1 of 1
ADDITIONAL INSURED –
MORTGAGEE, ASSIGNEE OR RECEIVER
This endorsement modifies insurance provided under the following:
COMMERCIAL GENERAL LIABILITY COVERAGE PART
SCHEDULE
Name Of Person(s) Or Organization(s) Designation Of Premises
Information required to complete this Schedule, if not shown above, will be shown in the Declarations.
A. Section II – Who Is An Insured is amended to
include as an additional insured the person(s) or
organization(s) shown in the Schedule, but only
with respect to their liability as mortgagee,
assignee, or receiver and arising out of the
ownership, maintenance, or use of the premises
by you and shown in the Schedule.
However:
1. The insurance afforded to such additional
insured only applies to the extent permitted by
law; and
2. If coverage provided to the additional insured is
required by a contract or agreement, the
insurance afforded to such additional insured
will not be broader than that which you are
required by the contract or agreement to
provide for such additional insured.
B. This insurance does not apply to structural
alterations, new construction and demolition
operations performed by or for that person or
organization.
C. With respect to the insurance afforded to these
additional insureds, the following is added to
Section III – Limits Of Insurance:
If coverage provided to the additional insured is
required by a contract or agreement, the most we
will pay on behalf of the additional insured is the
amount of insurance:
1. Required by the contract or agreement; or
2. Available under the applicable Limits of
Insurance shown in the Declarations;
whichever is less.
This endorsement shall not increase the
applicable Limits of Insurance shown in the
Declarations.

23. POLICY NUMBER: COMMERCIAL PROPERTY
CP 12 18 06 07
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CP 12 18 06 07 © ISO Properties, Inc., 2007 Page 1 of 3
38
A.5
LOSS PAYABLE PROVISIONS
This endorsement modifies insurance provided under the following:
BUILDING AND PERSONAL PROPERTY COVERAGE FORM
BUILDERS’ RISK COVERAGE FORM
CONDOMINIUM ASSOCIATION COVERAGE FORM
CONDOMINIUM COMMERCIAL UNIT-OWNERS COVERAGE FORM
STANDARD PROPERTY POLICY
SCHEDULE
Premises Number: Building Number:
Applicable Clause
(Enter C., D., E., or F.):
Description Of Property:
Loss Payee Name:
Loss Payee Address:
Premises Number: Building Number: Applicable Clause
(Enter C., D., E., or F.):
Description Of Property:
Loss Payee Name:
Loss Payee Address:
Premises Number: Building Number: Applicable Clause
(Enter C., D., E., or F.):
Description Of Property:
Loss Payee Name:
Loss Payee Address:
Information required to complete this Schedule, if not shown above, will be shown in the Declarations.

24. CP 12 18 06 07 © ISO Properties, Inc., 2007 Page 2 of 3
39
A. When this endorsement is attached to the
Standard Property Policy CP 00 99, the term
Coverage Part in this endorsement is replaced by
the term Policy.
B. Nothing in this endorsement increases the
applicable Limit of Insurance. We will not pay
any Loss Payee more than their financial interest
in the Covered Property, and we will not pay
more than the applicable Limit of Insurance on
the Covered Property.
The following is added to the Loss Payment
Loss Condition, as indicated in the Declarations
or in the Schedule:
C. Loss Payable Clause
For Covered Property in which both you and a
Loss Payee shown in the Schedule or in the
Declarations have an insurable interest, we will:
1. Adjust losses with you; and
2. Pay any claim for loss or damage jointly to
you and the Loss Payee, as interests may
appear.
D. Lender’s Loss Payable Clause
1. The Loss Payee shown in the Schedule or in
the Declarations is a creditor, including a
mortgageholder or trustee, whose interest in
Covered Property is established by such
written instruments as:
a. Warehouse receipts;
b. A contract for deed;
c. Bills of lading;
d. Financing statements; or
e. Mortgages, deeds of trust, or security
agreements.
2. For Covered Property in which both you and
a Loss Payee have an insurable interest:
a. We will pay for covered loss or damage to
each Loss Payee in their order of
precedence, as interests may appear.
b. The Loss Payee has the
right to receive loss payment even if the
Loss Payee has started foreclosure or
similar action on the Covered Property.
c. If we deny your claim because of your
acts or because you have failed to comply
with the terms of the Coverage Part, the
Loss Payee will still have the right to
receive loss payment if the Loss Payee:
(1) Pays any premium due under this
Coverage Part at our request if you
have failed to do so;
(2) Submits a signed, sworn proof of loss
within 60 days after receiving notice
from us of your failure to do so; and
(3) Has notified us of any change in
ownership, occupancy or substantial
change in risk known to the Loss
Payee.
All of the terms of this Coverage Part will
then apply directly to the Loss Payee.
d. If we pay the Loss Payee for any loss or
damage and deny payment to you because
of your acts or because you have failed to
comply with the terms of this Coverage
Part:
(1) The Loss Payee’s rights will be
transferred to us to the extent of the
amount we pay; and
(2) The Loss Payee’s rights to recover the
full amount of the Loss Payee’s claim
will not be impaired.
At our option, we may pay to the Loss
Payee the whole principal on the debt plus
any accrued interest. In this event, you
will pay your remaining debt to us.
3. If we cancel this policy, we will give written
notice to the Loss Payee at least:
a. 10 days before the effective date of
cancellation if we cancel for your
nonpayment of premium; or
b. 30 days before the effective date of
cancellation if we cancel for any other
reason.
4. If we elect not to renew this policy, we will
give written notice to the Loss Payee at least
10 days before the expiration date of this
policy.
E. Contract Of Sale Clause

25. CU 12 18 06 07 © ISO Properties, Inc., 2007 Page 3 of 3
40
1. The Loss Payee shown in the Schedule or in
the Declarations is a person or organization
you have entered a contract with for the sale
of Covered Property.
2. For Covered Property in which both you and
the Loss Payee have an insurable interest we
will:
a. Adjust losses with you; and
b. Pay any claim for loss or damage jointly
to you and the Loss Payee, as interests
may appear.
3. The following is added to the Other
Insurance Condition:
For Covered Property that is the subject of a
contract of sale, the word “you” includes the
Loss Payee.
F. Building Owner Loss Payable Clause
1. The Loss Payee shown in the Schedule or in
the Declarations is the owner of the described
building, in which you are a tenant.
2. We will adjust losses to the described
building with the Loss Payee. Any loss
payment made to the Loss Payee will satisfy
your claims against us for the owner’s
property.
3. We will adjust losses to tenants’
improvements and betterments with you,
unless the lease provides otherwise.

26. POLICY NUMBER: COMMERCIAL PROPERTY
CP 12 19 06 07
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
CP 12 19 06 07 © ISO Properties, Inc., 2007
41
Page 1 of 1
A.6
ADDITIONAL INSURED – BUILDING OWNER
This endorsement modifies insurance provided under the following:
COMMERCIAL PROPERTY COVERAGE PART
STANDARD PROPERTY POLICY
SCHEDULE
Premises Number: Building Number:
Building Description:
Building Owner Name:
Building Owner Address:
Premises Number: Building Number:
Building Description:
Building Owner Name:
Building Owner Address:
Premises Number: Building Number:
Building Description:
Building Owner Name:
Building Owner Address:
Information required to complete this Schedule, if not shown above, will be shown in the Declarations.
The building owner identified in this endorsement is a
Named Insured, but only with respect to the coverage
provided under this Coverage Part or Policy for direct
physical loss or damage to the building(s) described in the
Schedule.

27. SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN
ACCORDANCE WITH THE POLICY PROVISIONS.
INSURER(S) AFFORDING COVERAGE
INSURER F :
INSURER E :
INSURER D :
INSURER C :
INSURER B :
INSURER A :
NAIC #
NAME:
CONTACT
(A/C, No):
FAX
E-MAIL
ADDRESS:
PRODUCER
(A/C, No, Ext):
PHONE
INSURED
REVISION NUMBER:CERTIFICATE NUMBER:COVERAGES
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on
this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
OTHER:
(Per accident)
(Ea accident)
$
$
N / A
SUBR
WVD
ADDL
INSD
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
$
$
$
$PROPERTY DAMAGE
BODILY INJURY (Per accident)
BODILY INJURY (Per person)
COMBINED SINGLE LIMIT
AUTOS ONLY
AUTOSAUTOS ONLY
NON-OWNED
SCHEDULEDOWNED
ANY AUTO
AUTOMOBILE LIABILITY
Y / N
WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY
OFFICER/MEMBEREXCLUDED?
(Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under
ANYPROPRIETOR/PARTNER/EXECUTIVE
$
$
$
E.L. DISEASE - POLICY LIMIT
E.L. DISEASE - EA EMPLOYEE
E.L. EACH ACCIDENT
ER
OTH-
STATUTE
PER
LIMITS(MM/DD/YYYY)
POLICY EXP
(MM/DD/YYYY)
POLICY EFF
POLICY NUMBERTYPE OF INSURANCELTR
INSR
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
EXCESS LIAB
UMBRELLA LIAB $EACH OCCURRENCE
$AGGREGATE
$
OCCUR
CLAIMS-MADE
DED RETENTION $
$PRODUCTS - COMP/OP AGG
$GENERAL AGGREGATE
$PERSONAL & ADV INJURY
$MED EXP (Any one person)
$EACH OCCURRENCE
DAMAGE TO RENTED
$PREMISES (Ea occurrence)
COMMERCIAL GENERAL LIABILITY
CLAIMS-MADE OCCUR
GEN'L AGGREGATE LIMIT APPLIES PER:
POLICY
PRO-
JECT LOC
CERTIFICATE OF LIABILITY INSURANCE
DATE (MM/DD/YYYY)
CANCELLATION
AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/03)
© 1988-2015 ACORD CORPORATION. All rights reserved.
CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED
AUTOS ONLY
ACORDs provided by Forms Boss. www.FormsBoss.com; (c) Impressive Publishing 800-208-1977

28. SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE
DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
CANCELLATION
ACORD 28 (2016/03)
© 2003-2015 ACORD CORPORATION. All rights reserved.
NOYES
NOYES
If YES, LIMIT: DED:Subject to Different Provisions:
Subject to Different Provisions:
NAMED STORM INCL
DED:If YES, LIMIT:
If YES, LIMIT:
If YES, LIMIT:
If YES, LIMIT:
If YES, LIMIT:
If YES, LIMIT:
If YES, LIMIT:
RENTAL VALUE
N/A
FUNGUS EXCLUSION (If "YES", specify organization's form used)
LIMITED FUNGUS COVERAGE
$
EARTH MOVEMENT (If Applicable)
WIND / HAIL INCL
ORDINANCE OR LAW
EQUIPMENT BREAKDOWN (If Applicable)
COINSURANCE
AGREED VALUE
REPLACEMENT COST
DED:
IS DOMESTIC TERRORISM EXCLUDED?
IS THERE A TERRORISM-SPECIFIC EXCLUSION?
Attach Disclosure Notice / DECTERRORISM COVERAGE
BLANKET COVERAGE
YES NO
COVERAGE INFORMATION
FLOOD (If Applicable)
PERMISSION TO WAIVE SUBROGATION IN FAVOR OF MORTGAGE
HOLDER PRIOR TO LOSS
If YES, %
DED:
COMMERCIAL PROPERTY COVERAGE AMOUNT OF INSURANCE: DED:
PERILS INSURED BASIC BROAD SPECIAL
- Demolition Costs
- Incr. Cost of Construction
- Coverage for loss to undamaged portion of bldg
DED:
DED:
DED:
DED:
DED:
If YES, indicate value(s) reported on property identified above: $
BUSINESS INCOME If YES, LIMIT: Actual Loss Sustained; # of months:
If YES, LIMIT:
AUTHORIZED REPRESENTATIVE
ADDITIONAL INTEREST
NAME AND ADDRESS
LENDER SERVICING AGENT NAME AND ADDRESSCONTRACT OF SALE
MORTGAGEE
LENDER'S LOSS PAYABLE
LOCATION / DESCRIPTION
THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING
ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS EVIDENCE OF PROPERTY INSURANCE MAY
BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS
OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
(ACORD 101 may be attached if more space is required) BUILDING OR BUSINESS PERSONAL PROPERTY
THIS EVIDENCE OF COMMERCIAL PROPERTY INSURANCE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS
UPON THE ADDITIONAL INTEREST NAMED BELOW. THIS EVIDENCE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER
THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS EVIDENCE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN
THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE ADDITIONAL INTEREST.
ADDITIONAL NAMED INSURED(S)
NAMED INSURED AND ADDRESS
CODE:
AGENCY
CUSTOMER ID #:
SUB CODE:
E-MAIL
ADDRESS:
(A/C, No, Ext):
PHONE
FAX
(A/C, No):
PRODUCER NAME,
CONTACT PERSON AND ADDRESS
EXPIRATION DATEEFFECTIVE DATE
THIS REPLACES PRIOR EVIDENCE DATED:
TERMINATED IF CHECKED
CONTINUED UNTIL
IF MULTIPLE COMPANIES, COMPLETE SEPARATE FORM FOR EACH
COMPANY NAME AND ADDRESS NAIC NO:
POLICY TYPE
POLICY NUMBERLOAN NUMBER
EVIDENCE OF COMMERCIAL PROPERTY INSURANCE
DATE (MM/DD/YYYY)
The ACORD name and logo are registered marks of ACORD
PROPERTY INFORMATION
LOSS PAYEE
ACORDs provided by Forms Boss. www.FormsBoss.com; (c) Impressive Publishing 800-208-1977