For Gulf-based banks, the Coface credit cover for factoring and loss payee
is currently in excess of $1.
Also, goods financed should be properly insured with ODB as the loss payee
, Hamad added.
8220;Wells Fargo is issuing all new loss payee
certificates and is a powerful partner in ensuring that the transition protects each and every one of our clients seamlessly.
These risks are mitigated by the presence of loss payee
language and a client property endorsement, which make it possible for the Investor to be paid directly for its loss.
H&E) claimed that Ross Nesbit and the insurance agent, by amending H&E's policy to add its landlord as a loss payee
without its knowledge or permission, the action started a chain of events that led to the loss of H&E's business.
With CV-Exchange, companies can manage loss payee
and mortgagee notifications, producer notifications and escrow billing.
Because a BRT policy can be structured to coordinate precisely with the term and amount of the loan, and because the lender is named as the loss payee
on the policy, having this coverage in place is a win-win for the student loan holder and lending institution alike.
Home insurance is not required by law, but mortgage lenders require you to have it and to name the lender as loss payee
at least to the extent of the loan.
One of the most contentious of the changes to the condominium statutes was the one requiring that "The association must be an additional named insured and loss payee
on all casualty insurance policies issued to unit owners in the condominium operated by the association.
Lender/servicer notifications: Lenders/servicers are listed as mortgagee, loss payee
and additional insured, depending on the loan documentation, and as such they are entitled to specific notifications of coverage lapses, gaps and renewals.
If required, the lender can be named as loss payee
But such warranty provisos cannot be allowed to operate to the detriment of the merchants' bank, say in the denial of a claim payment to the bank as an innocent loss payee
following catastrophic loss, otherwise the coffee insurance policy itself would be severely debased.