For example, many building systems are controlled by software or by embedded microchips that may malfunction on the century date change. These malfunctions may make buildings inaccessible and may lead to failures in elevator, HVAC, security and other building systems. Luce, Forward, Hamilton and Scripps LLP has formed a task force of specialists from its real estate, business, litigation and insurance practice groups to help clients minimize the inevitable Year 2000 problems. These professionals can assist in the development of a business risk contingency plan to minimize the impacts to your business and reduce potential liability exposure. Luce Forward also provides assistance in negotiating appropriate contract provisions to address Year 2000 issues.
Most landlords believe they are protected by rental loss insurance.
However, insurance policies may not provide coverage for interruptions caused by Year 2000 problems. Luce Forward's insurance specialists can review the scope of coverage under your insurance policies. Lenders and tenants often ask for representations that buildings will be Year 2000 compliant. All Rights Reserved.