Property Mgmt Co requiring to be listed as Add'l Insd

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Kersty

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The property management company for the apartment complex in which I live is requiring that I have them listed on my tenant's insurance policy as an additional insured. This is a condition of my lease renewal. I currently have my contents insured and carry $100K of liability. My insurance company (Bankers) will not do this, as they said 1) in the event of a loss, the property management company would be listed along with me on any payout, and 2) in the event of any legal action being pursued due to a loss, they (Bankers) would be forced to represent both myself and the management company, even though we may be on opposite sides.........

Is it legal for the management company to require me to do this? They will "provide" it for any tenant, for an additional monthly charge, if I don't show proof of their listing........

Thanks for any assistance anyone can provide!!!

-Kersty
 
They can probably require it but I don't like it either. What exactly do they think their insurable risk is?
 
Thanks for your reply........I don't know what their risk is, but I carry the required amount anyway. I just really don't like them as add'l insd on my policy.
 
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