The Nonprofit
A nonprofit that hosts business networking and community events.
The Situation
The insured occupies two units of a six story commercial building. Unidentified person(s) gained entry into the building and then opened the commercial fire suppression valves on the 4-6 floors. Highly pressurized water entered the stairwell at the sixth floor level and spread across all of the floors of the building down to the ground level. No suspects were ever identified.
The Resolution
The insured’s coverage extended to Business Personal Property only. The Business Personal Property coverage includes damages to tenant improvements and betterments made to the property upon occupancy of the location. Damages for both personal property and Tenant Improvements and Betterments were paid.
From the Claims Files stories like the one above are intended to be informational in nature. Coverage will vary depending on language specific to your policy and your specific facts and circumstances.
Please contact your insurance broker and/or agent for your specific coverage implications based on your specific situation and follow any claims reporting procedures from your policy with your broker if there might be a claim.
Nothing in this story should be considered as legal advice or opinion and you should seek independent advice or legal counsel.