LENDER PLACED COLLATERAL PROTECTION INSURANCE (CPI)
YOU AND YOUR BORROWERS BOTH WIN
- Identifies your exposures by effectively managing your insurance date
- Protects the loan collateral for borrowers who cannot obtain insurance
- Uninterrupted protection if borrower’s insurance lapses or cancels
MAJOR BENEFITS
- Identifies your exposures by effectively managing your insurance date
- Protects the loan collateral for borrowers who cannot obtain insurance
- Uninterrupted protection if borrower’s insurance lapses or cancels
MANAGING INSURANCE REQUIREMENTS
DATA CAPTURE AND MANAGEMENT
- Insurance information is captured and stored in one centralized data management system
- Managed data include inception to date history of insurance documents, borrower notices, lender-placed collateral protection coverage and claim records
- Information is updated automatically
RISK ASSESSMENTS
- After loading of insurance data, potential exposures are identified per loan
- Best solution or solutions package is offered which may include blanket insurance, errors and omissions coverage or lender-placed collateral protection insurance
POLICY MANAGEMENT
Rating, issuance and monitoring of coverages is implemented either through your borrower’s insurance broker or agent or through a combination of Kistler Agency’s lender-placed collateral protection coverages such as:
- All-Risk Physical Damage
- Automatic Protection
- Waiver of Repossession
- Uncollected Premium
- Repossession and Return Expense
- Insufficient Insurance
- Confiscation
- Conversion (Skip)
- Instrument Non-Filing Errors and Omissions
- Repossessed Property
- Worldwide Protection
Rigorous service standards are applied including tight monitoring of lender-placed coverages and false placements