Our Insurance Risk evaluations review the borrower’s existing coverages and limits against the industry standards, GSE seller/servicer requirements and rating agency criteria including:

• Insurance Carrier Financial Strength
• Special cause of loss form (“all risk”)
• Lender as additional insured & notification of cancellation provision
• Flood (zone determination & coverage compliance)
• Windstorm
• Earthquake (seismic zone 3 & 4)
• Environmental/ Pollution Liability (Post Phase I and/or Phase II Environmental Site Assessment review)
• Boiler & Machinery Business Income/ Extra Expense (loss of rents)
• Casualty Coverage Review: commercial general liability, umbrella, and workers compensation compliance.
• Terrorism
• Verification of Premium Payment

If necessary, we work directly with the borrower and/or their insurance broker to broaden coverages or limits to acceptable levels prior to closing.

Upon completion of our due diligence review, we provide the lender a detailed summary of insurance and copies of pertinent insurance documents collected during our review including binders, copies of insurance policies, and endorsements.