Indemnification Clause In Rental Agreement
The press release provided is a bit hilarious, even from the point of view of a media professional, but compensation for the negligence of the property owner? An insurance clause generally requires the tenant to insure their own liability insurance for such situations, and sometimes the tenant requires the lessor to designate an “additional insured” to continue to protect the landlord. In this situation (as crazy as it may seem to someone who does not work in the legal or insurance field), the tenant does not assume responsibility for the lessor, but for the tenant`s insurer, although the lessor is not financially exposed to risk in both situations. State law defines whether the indemnification and insurance clauses are applicable.