PPSA/Movable Property

An industry first, FCT's PPSA/Movable Property Insurance transfers many of the risks inherent in perfecting a security interest in personal property collateral from the lender and its counsel to an insurance company. PPSA/Movable Property Insurance provides true indemnification against loss due to defects in attachment, or priority. It also provides an opportunity to outsource most of the back-office activities involved in perfecting security interests, such as PPSA/RDPRM searches and registrations, as well as corporate and other searches in every jurisdiction in Canada.

For a one-time premium, FCT's PPSA/Movable Property Insurance covers security interests in personal property such as inventory, equipment, accounts, fixtures, crops, intangibles, securities and consumer goods. The policies are fully assignable and coverage is in place for the life of the indebtedness. In addition, every policy includes the duty to defend which provides protection in the event of a challenge to the lender's security interest, whether successful or not.