What it does
CA 99 61 is a loss payable clause tied to the Audio, Visual And Data Electronic Equipment Coverage Added Limits endorsement CA 99 60. When electronic equipment insured under CA 99 60 is financed or leased, it names the lender or lessor to receive loss payments for that equipment as its interest may appear. The general vehicle loss payable clause, CA 99 44, does not address the added-limits electronics coverage.
Who needs it
Businesses that finance or lease in-vehicle systems such as camera systems, mobile data terminals or broadcast equipment separately from the vehicle.
Quoting notes
- Attach only when CA 99 60 is on the policy; without it there is no added-limits coverage to pay.
- Schedule the payee exactly as shown in the equipment finance or lease agreement and identify the vehicles in which the equipment is installed.
The current edition is 10 13.
