We spoke yesterday re captioned mutual client.
Below are the salient points of our discussion:-
1) Draft AIG’s policy with details to be provided to us;
2) Loss-Payee Clause – please confirm whether the bank is allowed to pay premium, file overdues and claims on behalf of the Insured. Your email below indicates a yes but the clause as provided by AIG is not clear on this.
3) Please also approach other insurers like Euler Hermes and COFACE in Thailand as we would be interested to see their offerings too.