ISO has filed changes in its commercial property program, effective in many jurisdictions early this year. As part of these changes, the definition of vacancy has been clarified. For a commercial tenant the prior definitions apply. But for a building owner the definition of vacancy has changed. These changes bear careful review.
Some states have yet to adopt the new definitions.
Under the prior definition, vacancy has been the subject of a number of claims and lawsuits. United States Court of Appeals for the Fourth Circuit. October 17, 1995. CCH 1996 Fire and Casualty Cases, Paragraph 5490. A review of the particulars of the Catalina case, the most recent of the three, seems warranted for instructional purposes because they are typical of conditions that are encountered.