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Look at the lease and the policy (who is loss payee....). Normally TIBs wind up the LL's property but during the term the T is obligated to insure (LL normally would only insure the "shell" since TIB varies from tenant to tenant). Then if there's a loss the question is how are the proceeds to be applied? If the lease will continue then the LL should rebuild with those funds and as long as they were the correct amount LL should fund any deductible and any overage (LL's insurance may dovetail with this). If the lease will end due to the casualty, then the LL gets the $$ because it essentially loses its property and the T is released from further leasehold obligations.

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Q: Tenants Improvements and Betterments TIB who is reimbursed for this in a covered claim Tenant or Landlord?
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