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Understanding Insurance in Retail Leases
It goes without saying that most people find it difficult to understand fully the arcane world of insurance. It is always easier to let the “insurance brokers” or “in-house insurance gurus” negotiate the insurance provisions of a lease. However, a basic understanding of the most common insurance concepts is very helpful in negotiating a letter of intent or a lease. This article provides a simple “primer” on the ten most common insurance concepts encountered during lease negotiations.
1. First-Party Insurance
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