Incenter Insurance Solutions Announces Lender Insurance Services, Bringing More Efficiency To The Commercial Lending Process
Incenter Insurance Solutions, part of the Incenter family of companies, today announced its Lender Insurance Services. These innovative programs are designed to give lenders a competitive advantage in the commercial and investor markets through two distinct offerings: 1) real estate investment portfolio reviews of existing insurance, and 2) specialty insurance products for short-term opportunities, such as fix and flips.
“Our Lender Insurance Services not only empower our clients to ensure compliant insurance coverage across all investment properties; they help them do so efficiently while providing added value. This is what sets us apart in the marketplace,” said Royce Yeager, Director of Lender Insurance Services, Incenter Insurance Solutions.
Through the portfolio review services, agents make sure adequate insurance coverage is in place for each asset, whether properties are all in one region or dispersed across the U.S. Acting as consultants, they seek to determine whether existing policies are free of issues that could delay a closing or reduce the salability of a portfolio since the systematic acceptance of insufficient coverage can cause undue exposure to loss and potentially violate lender investor covenants. The work product includes written reports for loan files confirming all requirements have been met. Should the team identify any issues, they are available to work directly with borrowers and their third-party agents—freeing staff to remain focused on lending. If borrowers/investors are unable to produce acceptable insurance, Incenter Insurance Solutions can provide a quick and accurate quote as desired.
Incenter Insurance Solutions’ short-term insurance program offers lenders a full suite of specialty policies for temporary rentals, bridge and construction loans, and fix and flip projects. Since many agencies are not agreeable to the extra servicing required to bind and cancel these temporary policies, Incenter Insurance Solutions is helping to fill a market gap. Furthermore, Incenter Insurance Solutions is able to provide quotes for every loan file well in advance of closings without any borrower identifiable information, using only the property address and information about any planned renovation or construction.
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