Source: Tango Specialty

A commercial property manager oversees the management of an industrial office space. Following a rainstorm, a tenant alleges that a smell of mold appeared in their rented premises. They further allege that while the property manager did hire an outside firm to mitigate the mold, the issues persisted. The tenant alleges that the property manager’s negligence to mitigate the mold resulted in $450K in damages to their office, office furniture, and loss of business while the tenant’s employees responded to the water intrusion. A real estate developer policy provides coverage for the incurred damages the property manager is responsible for arising from the mold intrusion.