Dear Valued Clients: UPDATE: August 20, 2020 As summer begins to wind down, Lee & Mason wanted to update you regarding our progress over the past five months and how we will approach the rest of 2020. While these plans change frequently as necessary, we showed an ability to pivot quickly in March, ensuring safety for our employees without sacrificing...

With natural disasters (and their associated property damage) becoming increasingly common, force-placed insurance is more important than ever for many lenders. But what exactly is this type of policy? What does it cover, and when do you need it? Sometimes referred to as lender-placed, creditor-placed, or collateral...

During times of economic uncertainty, having comprehensive portfolio protection takes on new importance. After all, when consumers are facing a period with no paycheck, they'll have to prioritize their expenses – and for many, paying one's auto insurance premium can seem like a low priority. In...

With the average price of a new vehicle exceeding $37,000 in 2019, lenders are carrying more risk than ever when it comes to lapsed insurance policies. With Blanket Lenders Single Interest (LSI) coverage, lenders are protected from any uninsured damage or theft of the loan collateral. One...

GAP losses have significantly increased over the last several years. This is due to a wide array of reasons, including: The increasing price of cars and larger loan amounts Extended loan terms and higher loan-to-value (LTV) ratios Negative equity trends The cost to replace electronic components and airbags Increased miles driven Texting and driving Decreased value in used cars As the frequency and size of...

With natural disasters across the globe increasing in frequency and intensity, it's more important than ever for lenders to have a comprehensive process in place to protect themselves against uninsured losses. In 2017 alone, insurers paid out more than $78 billion in disaster-related claims. And while this figure dropped to $52 billion in 2018,...

In today's self-service society, many drivers may forego the insurance agent and simply buy auto insurance online. Unfortunately for lenders, this trend toward DIY insurance arrangements can mean that borrowers are more likely to become uninsured at some point during the repayment process, putting themselves and the lienholder at...

Lee & Mason has begun rolling out a new online claims interface for Blanket Lenders Single Interest (aka Vendors Single Interest) and Gap Waiver Insurance claims. The new system features two-factor login security. The interface has a bright new look and feel, including dashboard navigation and...