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                            5228.9003 Insurance policies.
        
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Change Number: NMCARS Change 18-22 Effective Date: 07/11/2022
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Subpart5228.35228.90
Section5228.90005228.90015228.90025228.9003
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5228.9003 Insurance policies.5228.9003 Insurance policies.    (a) Insurance policies for leased property shall be issued in the names of the lessee and of the Department of the Navy and contain a loss payable provision as follows:  "Loss, if any, under this policy shall be adjusted with (Lessee) and the proceeds, at the election of the Government, shall be payable to the (Lessee); any proceeds not paid to the (Lessee) shall be payable to the Treasurer of the United States."       (b) Each insurance policy shall contain a provision for thirty days prior notice to DASN(P) in the event of cancellation of the policy.       (c) A certificate of insurance or copy of each          insurance policy shall be deposited with DASN(P) via hardcopy or by email at usn.pentagon.asstsecnavrdadc.mbx.pabt@us.navy.mil with the subject          “[Activity Name] FAR 28.9003 – Insurance Policy Deposit.” **Parent topic:**  Subpart 5228.90 - INSURANCE UNDER LEASES
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