MLchartDataset catalogue

Mortgagee clause

Term · Insurance and risk management · MLC-T-INS-002235

A provision in a property insurance policy that protects the financial interest of a mortgagee (lender) in the insured property. It stipulates that the mortgagee will be paid for covered losses even if the policyholder's actions, such as arson, would otherwise void the policy. This clause requires the insurer to notify the mortgagee of policy cancellation or non-renewal.

Table 1. Record
IdentifierMLC-T-INS-002235
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002235",
  "term": "Mortgagee clause",
  "field": "Insurance and risk management",
  "definition": "A provision in a property insurance policy that protects the financial interest of a mortgagee (lender) in the insured property. It stipulates that the mortgagee will be paid for covered losses even if the policyholder's actions, such as arson, would otherwise void the policy. This clause requires the insurer to notify the mortgagee of policy cancellation or non-renewal.",
  "url": "https://mlchart.com/terminology/insurance/mortgagee-clause/"
}

Record 2,198 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.