Any construction insurance specialists out there who would be willing to impart a little knowledge?

Thanks in anticipation

Hi Bahtatboy, you can PM me and I'll see if I can assist

Thanks, PM sent.

Once you've sorted out your problem, you can bloody well explain what the thread title means....... thank you.

Its on a need-to-know basis

A loss payee clause is a clause in a contract of insurance which provides that, in the event of payment being made under the policy in relation to the insured risk, payment will be made to a third party rather than to the insured beneficiary of the policy. Easy peasy, lemon squeezy. Just check the policy wording to establish to whom the settlement cheque should be made payable.

And now in English, please.....?

Thanks, but that I know.

EAR Policy has Additional Insureds (both named and un-named). Policy does not have a Loss Payee clause. One of the named Additional Insureds has a claim, for which the Insurer's Loss Adjuster has recommended payment. In theory at least, the named Additional Insured has the same basic rights under the Policy as the Named Insured. Is it industry practice, in a situation where this is no Loss Payee identified, for the Insurer to reimburse the named Additional Insured directly, or will the Insurer normally require consent of the Named Insured and the named Additional Insureds before making such payment?

There, now I've let the cat out of the bag. Although I appreciate that most of you will think its a hamster or shopping trolley.

Edit: One party involved is assuming that the Named Insured (also the policyholder) is the default Loss Payee. I don't agree.

ohh, insurance - my favourite. Talk dirty to me... Subrogation

*unsubscribes*

Get out of my shoes!

Check your PM Bahtatboy.

Cheers