Assertion: loss | /r/HasProperty | clause
Facets:
value: in a contract of insurance
type: OTHER
value: in the event of payment
type: TEMPORAL
Source sentences:
text: A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.