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October has its own claim to pop culture infamy: the annual scarefest known as Halloween. How appropriate that one of my latest email queries contained a scary assumption:

Let’s say you have a property policy, where you have the building owner and tenant listed on the same policy. They are one and the same when it comes to ownership. The only difference here is that we have two different corporations listed on this policy. We cover the building in the name of the one corporation and we cover the BPP in the name of the other corporation. We have an application that lists both corporations, one as the building owner and the other as whatever the business is. We have a written lease where the tenant is paying the building owner rent every month, too. Will the business income and extra expense limit include the loss of rents for the building owner, or do I need to have two different coverages? Should the property application look like building, and loss of rents for the building owner show the BPP limit for the tenant (who is the same owner) with the business income and extra expense exposure?

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