Insurance 101

Written by Deborah A. Watkins and Brian Parker
(ICSC Canadian Shopping Centre Law Conference)

INTRODUCTION
Insurance is a method to protect against financial loss. Generally speaking, there are two ways that losses may arise. First, your stuff may be damaged or destroyed. For example, a fire burns down your building. You suffer a financial loss equal to the value of your building. Second, you may be held liable for the damage or destruction of someone else’s stuff. For example, a fire burns down your neighbour’s building and you are found to be legally responsible. You suffer a financial loss equal to the amount you are required to pay to your neighbour.

Read the full article here: Insurance 101

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