Collateral Assignment | Process

"Wondering if you could take a look at the collateral assignment process to see if there’s room for improvement. This seems to be a customer experience/ease of doing business sort of thing. These assignment forms are being routed to NB. NB routes to inforce for handling. Inforce is requiring all parties on the form (assignor and assignee) to wet sign. I can see the desire to get a wet signature from the assignor because he/she is giving up contractual rights in the policy. The assignee (bank) is gaining though. Note that we also have a form that confirms the bank signor is authorized to sign on the bank’s behalf and we don’t require a wet signature on that form. "

Submitted by: Josh Weber