What is an additional insured or loss payee?
An additional insured is another entity that has a liability interest in your business. A landlord or tanning bed leasing company would be an example. Most landlords require to be named as additional insured to your policy. A loss payee is another entity that has a financial interest in your business. For example, a bank or lease company would have a financial interest in your business and require to be named as loss payees in your policy.
