Standard or Open? A Brief Primer on Insurance Designations

by J. Cliff McKinney II |

“All banks routinely require lenders to insure collateral for the benefit of the bank. However, bankers often do not know the difference between insurance endorsements and designations on policies obtained by borrowers. This article will briefly examine several of the more common types of insurance endorsements and designations and make suggestions regarding the type of language bankers should require in policies obtained by borrowers.”

Note: The above is an excerpt from the article. Click the link below to read the actual publication.

DOWNLOAD PDF