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Blanket Equipment Coverage Eliminates Losses on Difficult to Track Commercial & Industrial Equipment

Submitted by Golden Eagle Insurance, Inc on April 16, 2019

While many lenders are familiar with blanket coverages designed to eliminate the need to track and force-place insurance on mortgage and titled portfolios, fewer may be familiar with an alternative blanket coverage designed to protect the lender’s commercial equipment portfolio in cases of lapsed insurance coverage.

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An Alternative to CPI for Lenders

Submitted by Brian Barnett on March 28, 2019

Lenders have several different options to protect their collateralized portfolios in the event that a borrower fails to maintain insurance. For many years, Collateral Protection Insurance or CPI, also known as force-placed, has been the prevailing product lenders have used to cover this risk. But now that blanket protection or VSI is available, many lenders are trying to choose between CPI and VSI.

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The Use of AI in Loan Decisions

Submitted by Golden Eagle Insurance, Inc on March 15, 2019

 

Across the world, machines are getting smarter. Artificial Intelligence, or the theory and development of computer systems able to perform tasks that typically require human intellect and decision-making, impacting our lives and is already present in our day-to-day lives.

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Factors that Determine Rates on Portfolio Protection Insurance for Lenders

Submitted by Bill Jones on February 28, 2019

Trust and Relationship

I placed this first intentionally because it is the most important by far. Customers, borrowers, and members want a service provider that is trustworthy and see the bigger picture of a long-term relationship. They will use your products because of the great service you provide, and the value you bring to them as a trusted financial advisor. Good agents and insurance companies operate under the same principles.

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The Four Options to Protect Consumer Loan Collateral for Lenders

Submitted by Golden Eagle Insurance, Inc on February 18, 2019

For financial institutions to properly protect consumer loan portfolio collateral, there are four basic options to consider when determining what type of portfolio protection insurance is best for them, as well as, their borrowers.

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Frequency and Size of Auto VSI and GAP Claims Remain High

Submitted by Bill Jones on January 31, 2019

Insurance rates in every sector have risen substantially in recent years, outpacing inflation by a good margin.  Here’s a look at some of the stats:

  • Health Insurance costs have gone up by over 20% in the last 10 years

  • Auto Insurance rates have gone up by more than 30% in the last 10 years

  • Homeowner Insurance premiums have risen over 40% in the last 10 years

Natural disasters, home prices, and the increased cost of construction have affected homeowner insurance pricing the most.  Health insurance premiums have risen due to many factors. Why have auto-related premiums gone up so much? Here are the top 5 reasons why auto insurance rates are going up:

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