GE Capital, Commercial Distribution Finance (‘CDF’) dealers are required to maintain adequate insurance coverage. One option
dealers have is the Inventory Insurance Plan administered by
Lockton Risk Services.
The coverage under this plan automatically adjusts as the value of dealers’ CDF-financed inventory fluctuates, as does the premium listed on
dealers' CDF monthly billing statement.
Inventory Insurance Plan is administered by Lockton Risk
billing and collecting services under Lockton’s program are
being provided as an accommodation to
CDF dealers and a service to Lockton,
and CDF will not charge dealers any fees or interest
consideration of such services, CDF may collect a fee for
its administrative services from Lockton. CDF dealers’
participation in the Lockton program is at the discretion of
the dealers, and dealers may obtain insurance coverage
elsewhere to satisfy their obligations under their loan
agreements with CDF. CDF is not promoting, marketing or otherwise
representing Lockton or the insurance carrier under the
program to CDF dealers. CDF is not soliciting or negotiating insurance on behalf of
dealers, Lockton or any third party.