Lending institutions encounter risks every day. While exposure comes with the job, it still can create stressful situations for them and their clients. Our consultancy fully understands what lenders experience and serves as a vital resource to them, as we provide reassurance and aid them to help their borrowers. Many lenders lack the necessary in-house expertise to design and monitor the insurance requirements that borrowers must maintain to protect the assets under review. With extensive knowledge in the financial services industry, we walk lenders through every step of the way to ensure they are fully protected.
Draft Insurance Requirements
To best evaluate the specific lending arrangement, we bring our vast document review skills and experience to bear in closely examining and analyzing the nature and exposure of the assets under review. We can then draft the necessary insurance requirements that will sufficiently protect the lending institution from potential insurable risks.
Coverage Analysis and Guidance
Our team takes a broad and integrated approach in the services we deliver. We analyze a borrower’s existing or proposed insurance structure and program, provide guidance on their effectiveness and adequacy, and discuss potential modifications.
We dig in and undertake a comprehensive review of existing insurance policies and/or policies to be placed. This enables us to identify limitations and exclusions of coverage and craft the best solutions to adequately address them.
Certificates of Insurance Review
By reviewing and monitoring issuance of certificates of insurance, we help lenders ascertain that the coverage their borrowers have in place is sufficient and worded correctly, as stipulated in loan covenants. We advise on how to address noncompliance and help draft the proper corrective language.
Loan Coverage Compliance
We work with our lending institution clients to ensure their borrower’s policies comply with insurance requirements and all coverage is inclusive of terms, limits and conditions.