April 8, 2010

In editions of the Mortgageholders Errors and Omissions Coverage, CP 00 70, prior to the 06 07 edition, ISO included language to state that the additional coverage for collapse applies only if collapse “is a coverage for which the insured customarily requires mortgagors to provide insurance.” In the 06 07 edition of the CP 00 70, ISO removed that language. What impact does this removal have on coverage?

Michigan Subscriber

By removing that language, ISO has broadened coverage by no longer making that stipulation—the collapse coverage applies even if the mortgagor is not customarily required to provide collapse coverage.