MBA works to improve insurance information transparency. (Commercial).(Mortgage Bankers Association of America)(Brief Article)

Mortgage Banking | July 1, 2003 | Copyright

MBA'S MEMBERS, WHO SERVICE MORE THAN $250 billion in loans secured by commercial real estate properties, have endorsed MBA's recommended changes to a standardized commercial insurance form aimed at providing more accurate property coverage information. A new form will replace the current ACORD Form 27, Evidence of Property Insurance, becoming ACORD Form 28, Evidence of Commercial Property Insurance, for use by commercial insurance agents and brokers to summarize existing property insurance coverage. ACORD Form 27 will be renamed Evidence of Personal Property Insurance.

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