Dear all,

Would you be so kind and let me know whether an insurance policy which does not show 'TO THE ORDER' of a named beneficiary subsequently  can be endorsed by that beneficiary.

Must it really contain like a Bill of lading the wording ' to the order of' so as to be assigned by endorsement to a third party?

Thank you,

Cristian Dobre

1. Governing Law both in the country of issuance of the insurance AND the country where endorsement would occur;

AND

2. The language of the policy - requires a thorough reading of all terms and conditions of the policy - front and back - I have seen policies with conflicting language regarding whether the right to proceeds under the policy may be endorsed to another party.

EVEN if 1 and 2 are favourable, a bank in a country not familiar with 1 and 2 would likely refuse the policy if the LC requirement was for something different.