A clause found in a direct damage policy taken on a mortgaged property. This clause specifies that reimbursement for any loss will be paid to the mortgagee, and that the mortgagee’s right to recovery will not be overcome by the insured’s negligence.
The Rantings of the barely human.
A clause found in a direct damage policy taken on a mortgaged property. This clause specifies that reimbursement for any loss will be paid to the mortgagee, and that the mortgagee’s right to recovery will not be overcome by the insured’s negligence.