I have received notice from bank regarding renewal of fire insurance for condo unit which i bought last year.

As far I know, i know the JMB of the condo buys the fire insurance and I will just ask them for the copy of the certificate and I forward it to the bank. But this time, the bank mentioned 'please forward to us a copy of the renewed insurance policy/certificate of insurance with 'BANK NAME' being endorsed as the mortgagee or having financial interest on the property/assets 7 days before the expiry of the said insurance'.

What does it actually mean? If i forward the letter from the bank to my JMB, will there be extra charges ?

Sorry, first time property owner here.. im noob.

Which bank is this?
Btw I checked mine, the fire cert does have owners name and financial interest which is the banks name on it

This post has been edited by idoblu: Jun 13 2020, 02:00 PM

is ur fire cert , u purchased from the bank or the jmb?

JMB bought the group insurance then give me the cert
Have to send the cert to the bank so they don’t buy for me as well

You should speak to your condo management and ask them about getting the insurers to put the financiers name on the cert as required by your bank

This post has been edited by idoblu: Jun 13 2020, 04:14 PM

i see. thanks.. was the answer i was looking for.