I am curious if any of you monitor life insurance assignments on a regular basis i.e. annually. If so, is it all assignments or how to you segment what you review.

What are you asking for and how do you obtain the information needed? In the past, we have sent a questionnaire to the agent/underwriter, but lately we are not getting much feedback or statements requiring the borrower to authorize the release of information.

Any feedback is greatly appreciated.

Thank you,
Tim

This would be no different than monitoring any other type of collateral the bank might take. From an audit side, I know how difficult it is to get timely statements from insurance companies. I would think your bank might set a threshold and verify over a certain dollar amount.