January 18th, 2022
As we wrapped up 2021, Lee & Mason was proud to be featured in the November issue of Great Lakes Banker.
In it, Jim Reilly provided the cover story focusing on several trends that impact collateral protection insurance, including:
Increasing frequency and severity for claim events across the United States.
Growing costs of repairing damage driven by materials cost and labor shortage.
Ongoing review by the National Association of Insurance Commissioners (NAIC) and efforts for a Model Act regarding lender-placed insurance and related tracking services.
He also outlines questions and themes community lenders should be considering as 2022 progresses to ensure a dynamic, compliant program.
To receive a copy of Jim’s article or if this is a conversation your institution is planning 1Q, reach out to Jim directly at jreilly@leeandmason.com or (502) 814-6033, or connect with us below.