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Old 21-12-2004, 03:42   #1
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Named Storm Deductibles


From “Trade Only Today”

... “Two major insurance underwriters have announced they will increase named-storm deductibles from the common 2 percent to as high as 5 percent Jan. 1, says NMBA. Other insurers are expected to follow.
The problem, Parkhurst said, is that “Many banks have a 2-percent insurance deductible maximum in their notes. So, banks will need to begin the process at once to update this provision, and service companies will need to reprogram details of their documentation preparation systems.” ...
Gord May
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