New ACORD 23 for Leased and Financed Equipment (PDF)
Sunderland, MA – 2011-01-01
The ACORD 23 is a significant enhancement to current documentation for insurance coverage on all leased or financed equipment or vehicular transactions. All lenders and lessors funding such transactions should review and revise, if necessary, their lease insurance requirements and make sure they now call for an ACORD 23 Certificate of Insurance or equivalent.
Avoiding Class Action Lawsuits Concerning Lease Insurance Programs (PDF)
Sunderland, MA – 2006-09-30
Equipment lease insurance is an important protection. But beware of hidden and excessive profits or penalties. When abuses creep in, the cost and risk of class action lawsuits become more real. Here are some ways leasing companies can protect themselves by modifying their standard lease forms – As printed in the Equipment Leasing & Finance Foundations Journal of Equipment Lease Financing, Fall 2006
Executive’s Guide to Equipment Lease Insurance (PDF)
Sunderland, MA – 2006-06-12
This analysis has the following objectives. First, it provides an overview of lease insurance. Second, it analyzes the nuts and bolts of lease insurance, including an explanation of the forms and types of insurance. Third, it outlines the components of a lease insurance program including important elements of the lease. Fourth, it explains the principal risk factors exposed by Class Action lawsuits.
Lease Insurance: A Solution to an Escalating Problem? Part II (PDF)
Shelburne Falls, MA – 2002-12-18
In the last issue of the Monitor, Steve Dinkelaker of American Lease Insurance discussed the benefits that lessor-sponsored lease insurance programs can bring to equipment leasing companies and their small business customers. In Part II, Steve offers an in-depth look at the emergence of professionally directed lease insurance programs to manage insurance risks in the small-ticket leasing segment.
Lease Insurance: A Solution to an Escalating Problem? Part I (PDF)
Shelburne Falls, MA – 2002-11-11
In today’s hardening insurance market, leasing companies have a real opportunity to provide a value-added service to their small business customers through a lessor-provided lease insurance program. In general, such a program, when well-designed and properly managed, has several significant competitive advantages over the customary BOP alternative offered to lessees through their own agents.