COVID-19: Exercise Due Diligence To Safegaurd Business Interruption Insurance Payments

LexisNexis (June 9, 2020, 11:45 AM EDT) -- A hot topic for financial institutions during the COVID-19 crisis is how to protect their right to insurance payments under business interruption insurance policies. In these COVID-19 times, Financial Institutions (FIs) commonly have relationships on both the depository and lending sides with their commercial customers who may be piling up fees on depository accounts and be in arrears on loan payments. Bank customers, on the other hand, may be looking to shield payments from their creditors....