Vacancies Haunt Insured Commercial Property Owners

Law360, New York (April 7, 2010, 4:19 PM EDT) -- Commercial vacancies have proliferated across the country in recent years as the economy faltered, raising risks of vandalism or theft and causing some property owners to stumble upon unpleasant surprises when they ask insurers to pay for the damages.

Many commercial property policies exclude coverage for buildings that have sat unoccupied for more than 30 or 60 days, posing a particular concern for property holders following a real estate-driven recession, say attorneys who have handled disputes related to commercial property insurance.

Although coverage specifically for vacant...
To view the full article, register now.