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what is a lost payee and lost payee is the party or entity that gets paid first in the event of a loss connected with a property in which it has a financial interest the property is often held or used by someone other than the person who is named as the loss payee a lender a buyer a lease or a property owner or some other third party can be named as a loss payee an additonal in short is a third party that has liability exposure in a professional business relationship being named as in additional insured helps transfer the risk away from your company property owners landlords general contractors and vendors are some examples of entities that can request to be named as an additional insured an example of a loss payee is when a lender finances a commercial property and some business equipment if a tenant is insuring the property or structure itself the lender has a financial interest at stake and should be listed as a loss payee on the property policy letamp;#39;s imagine the building bu
