Joe-
Thanks so much for providing the information about your insurance policy through Keller and Lowry. I need to ask you for two more things:
1. Are you aware of any exclusions that would prevent my recovery from the insurance company in the event of loss, damage or theft of the mosaic? If so, could you please provide me with a copy of the insurance policy provision regarding these exclusions?
2. At the time that I ship the mosaic and purchase the insurance through C&F, can I and the bank be named as co-insureds on the insurance policy covering loss, damage and theft? Will your insurance company allow that? The reason I ask is that I plan to transfer title of the mosaic to the bank, while the shipment is in the warehouse, so that the mosaic will be owned by the bank when it eventually arrives at the project site. This way, the mosaic will be insured by the bank’s property insurance policy after it is delivered to the project site, since it will then be owned by the bank. If the bank is a co-insured on the policy of insurance at the time of the transfer of title, there will be no need for additional documentation to protect the bank’s interest in the mosaic during the time that the mosaic remains in the warehouse until it is delivered to the project site.
I appreciate your help in making this a seamless process and assuring protection of this valuable cargo.
Best regards,
George