Mastering Commercial/Multifamily Lender-Placed Insurance: Nov. 7
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About the Event
Lender-placed insurance is meant to protect the lender’s interest in a property, ensuring coverage in the event of a loss. It is enforced when a borrower fails to maintain adequate insurance, as required by the loan agreement.
Join MBA Education and subject matter experts for a discussion designed to equip lending and servicing professionals with a comprehensive understanding of lender-placed (or force-placed) insurance. Panelists will explore the types of perils covered by force-placed policies, the circumstances that necessitate enforcing insurance on a property, and the frequency with which force placement occurs. Additionally, the webinar will highlight key insurance providers, the associated costs of lender-placed insurance, and common property owner reactions when this coverage is enforced.
Date/Time
Thursday, Nov. 7 (2:00 PM – 3:00 PM ET)
Objectives
• Identify the various types of peril that can be covered under lender-placed insurance and the implications for lenders and borrowers
• Determine the criteria and circumstances under which it is appropriate to enforce lender-placed insurance on a property
• Assess how frequently force placement occurs and identify the insurance carriers that offer force-placed coverage
• Evaluate the cost structure of force-placed insurance, including annual costs and per-instance charges, to better manage budgeting and financial planning
• Understand typical property owner reactions to force-placed insurance to improve communication and address potential concerns effectively
Experience Level
• Entry-Level
• Intermediate
Target Audience
• Real Estate Owners and Investors
• Insurance Directors
• Loan Closers and Underwriters
• Commercial Servicers
• Asset Managers
Speaker(s)
• Gretchan Francis, Managing Director, InsureMAC
• Kimberly Hayek, Vice President, Insurance Servicing, Merchants Capital
• Mike Smith, Executive Vice President, Specialty Lending Practice, Alliant Insurance Services, Inc.
• Mike Van Eerden, President, Marjan Corporation
• Nick Yuhas, Senior Vice President & Managing Director, Althans Insurance Agency
