All of the following are duties of the mortgagee under the standard mortgage clause EXCEPT
A)to reimburse the insurer for any loss payments.
B)to notify the insurer of any change in ownership of the property of which the mortgagee is aware.
C)to provide a proof of loss form if the insured fails to do so.
D)to pay the premium if the insured fails to do so.

Question

Quizplus · Accepted Answer

The mortgagee is not required to reimburse the insurer for any loss payments. The standard mortgage clause primarily protects the mortgagee's interest in the property, ensuring they receive payment up to their interest in the event of a loss, but it does not obligate them to reimburse the insurer for loss payments made.

All of the Following Are Duties of the Mortgagee Under