MLchartDataset catalogue

Mortgage impairment insurance

Term · Insurance and risk management · MLC-T-INS-002231

Coverage for a lender against losses arising from damage to mortgaged property when the borrower's own insurance policy has lapsed or is insufficient. This policy protects the lender's interest in the property if the borrower fails to maintain adequate coverage. It typically covers the outstanding loan balance up to the policy limits.

Table 1. Record
IdentifierMLC-T-INS-002231
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002231",
  "term": "Mortgage impairment insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage for a lender against losses arising from damage to mortgaged property when the borrower's own insurance policy has lapsed or is insufficient. This policy protects the lender's interest in the property if the borrower fails to maintain adequate coverage. It typically covers the outstanding loan balance up to the policy limits.",
  "url": "https://mlchart.com/terminology/insurance/mortgage-impairment-insurance/"
}

Record 2,215 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.