Insurance News Blog

Blanket mortgage impairment insurance is a type of back-up mortgage property protection for the lender’s residential and commercial mortgage portfolio. This coverage comes in three different forms: full-blanket, ex-checking, and checking. Below we'll explain further what each of these options includes and how they differ...

Vendor's single interest (VSI) insurance is designed to protect lenders if an uninsured vehicle is damaged or destroyed. Learn more about the coverage options available under a VSI policy, what type of collateral can be covered, and what lenders should know before purchasing a VSI...

Dear Valued Clients: UPDATE: December 2020 As we wrap up 2020 and look forward to 2021, Lee & Mason wanted to provide an update to our valuable customers. Just like you, our commitment remains on the health and safety of our employees and their families. While cases...

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...