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Industry Practice · Commerce & hospitality

Shopping Malls & Complexes

Insurance for shopping centres, mixed-use complexes and large retail developments, common areas, tenants, public liability and BI.

Building property & common areasVisitor liabilityBusiness interruption
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The sector

The landlord, the tenants and the public footfall are three different insurance conversations.

Shopping mall operators carry building property risk for the structure and common areas, public liability for visitor footfall, business interruption from any closure event, and an additional layer of exposure where mall operations enable or affect tenant occupancy. Terrorism cover is also typically required for larger urban malls.

Risk profile

Where the exposure lives.

Malls carry large property values, heavy footfall liability and business-interruption risk. These four come first.

01
Building property & common areas
Fire, flood, earthquake and accidental damage to building, atrium, escalators and HVAC.
02
Visitor liability
High footfall creates slip-and-fall, escalator and parking-area injury exposure.
03
Business interruption
Closure for repairs disrupts the operator's lease revenue and may trigger tenant compensation claims.
04
Terrorism & public safety
Urban malls in India increasingly carry terrorism cover, often a lender or landlord requirement.
Recommended cover

The programme we typically place.

Each cover below is a link to the policy page. The combination, the limits and the wording are what we negotiate on your behalf.

01
Fire & Burglary
Mall property and common-area cover with BI for lease-revenue disruption.
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02
Public Liability
Visitor liability with parking-area and escalator extensions, plus optional terrorism.
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03
Workmen Compensation
EC Act cover for direct employees and contract cleaning, security and maintenance staff.
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04
Plant & Machinery
Equipment breakdown for HVAC, escalator, elevator and DG plant.
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Claim reality

What a claim tends to look like here.

A defining claim combines large property values, from fire, flood or a services failure, with public liability from heavy footfall and business interruption affecting many tenants. The scale of sum insured and the crowd exposure set malls apart.

Questions

Questions we get in this sector.

The operator typically insures the structure and common areas and carries public liability for shared spaces, while tenants insure their own stock and fit-out. We define the boundary so nothing is double-insured or missed.
The operator can insure loss of rent and increased costs following an insured event, while tenants insure their own interruption. We coordinate the covers so a single event is handled consistently.
The structure and common areas belong to the mall; tenant fit-out, stock and contents belong to the tenant. The boundary is set by the lease, and gaps at that boundary are where uninsured losses sit after a fire.
It is the most frequently used. High footfall means slips, falls and escalator and lift incidents, and the mall is the natural defendant regardless of which contractor maintained the equipment.
It should. Where an incident makes units untenantable, rent stops while the obligations do not. Loss of rent is arranged on the same principle as business interruption with an indemnity period matched to realistic reinstatement.

Need a sector-specific risk review?

Speak with an advisor who has arranged cover for shopping malls before.

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