Why is it necessary to have Green Tree designated as Loss Payee on my insurance policy?
There are several reasons why Green Tree needs to be listed and as the loss payee. At each policy renewal, your insurance company will send a copy of your policy declarations page to the loss payee (Green Tree) so that we have evidence of your insurance coverage. In the event that you suffer a loss to your property, the insurance company needs this information to ensure timely processing. Additionally, for loans where Green Tree is responsible for paying the annual premium out of an escrow account, accurate loss payee information ensures timely billing and payment to avoid cancellation. Please have your agent or insurance company make sure Green Tree is listed as loss payee on your insurance policies.
