There are many title policy endorsements that can be utilized by underwriters on a specific commercial property. Each endorsement has its own benefits and drawbacks. In this article, we are going to talk about the Co-Insurance - Single Policy Endorsement and when you can include it in a commercial title insurance policy.
Co-Insurance – Single Policy Endorsement
The Co-Insurance – Single Policy Endorsement is issued by a co-insurer if a lead co-insurer (the “Issuing Co-Insurer”) prepares and issues a policy. The other co-insurers then issue the Co-Insurance Endorsement, which is attached to the policy of Issuing Co-Insurer and which incorporates the terms of the policy of the Issuing Co-Insurer. The co-insurers do not prepare or issue separate policies. The Endorsement sets forth the names and addresses of the co-insurers, the policy number assigned by each co-insurer (and the file number also may be shown), applicable amount of insurance assumed by the co-insurer and proportion of liability assumed by the co-insurer.
This endorsement is available in both a lender's policy and an owner's policy.
Commercial Partners Title – Your Experts in Commercial Transactions
At Commercial Partners Title Company, we are your experts in commercial transactions. That’s a designation we’ve earned over decades working in the commercial real estate industry. We’ve helped countless people and companies through the ins and outs of their commercial real estate transactions, and we can help you too! Contact us today to learn more about the commercial title process and see how we can help make your commercial transaction a resounding success. Set up your appointment with our experts today.