Insurance Coverage Q&A: Insured and Tenant Liability Under Contract
Questions whether an insured can cap the amount of liability under a tenant lease when insured under the CGL.
January 19, 2021 at 10:37 AM
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My policyholder has lessors’ risk CGL. One of their tenants is negotiating to terminate their lease early. The insured is going to enter a lease termination agreement with their tenant. In that agreement, they are going to cap any liability against the tenant (contract, tort, or otherwise) at $75,000. They wish to know if that runs contrary to the coverage provided in the CGL under an “insured contract”. Please advise.
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