RISK & REMEDIES · CRITICAL REVIEW PRIORITY
Insurance requirements and proceeds
Specifies required policies, limits, deductibles, insured parties, evidence, waivers and use of insurance proceeds.
This is not model language.
The actual meaning depends on the complete lease, amendments, facts and governing law. Use the prompts below to extract and brief the issue; do not paste this page into a lease as a substitute for drafting and legal review.
Questions to answer before the legal call
- Has the broker confirmed every required coverage and endorsement is available?
- Who carries building, improvements and business-interruption coverage?
- Do deductibles and waiver-of-subrogation provisions align?
What to capture from the document
Tenant policies
Record policy types, limits, deductibles, endorsements and evidence timing.
Landlord policies
Capture disclosed coverage, cost recovery and proceeds allocation.
Risk-transfer terms
Record additional insureds, waiver of subrogation and primary/non-contributory rules.
Patterns that deserve a closer read
- Coverage labels that do not match available Canadian insurance products
- Limits changeable without a reasonableness or market standard
- Insurance covenant treated as a substitute for liability allocation
A focused instruction for legal review
Have legal and insurance advisers reconcile policies, limits, insured interests, waivers, deductibles, indemnities, casualty proceeds and any uninsurable exposure.