Commercial insurance is a complex and dynamic component of the real estate finance industry. In recognition of the training needs of our members, MBA Education has developed a comprehensive program covering the various elements of commercial insurance. In collaboration with Insurance Advisors LLC and Fortress Risk Consultants LLC, MBA Education will offer a series webinars covering the following four categories:
1) Introductory and Overview
2) Types of Commercial Insurance
3) Commercial Insurance Industry Processes
4) Commercial Insurance Compliance
Our goal is for MBA members to develop a better understanding of everything from the fundamentals to the complexities of commercial insurance.
CMF: Lender Placed Insurance Webinar Summary:
This webinar will help lending and servicing personnel to and better understand the issues surrounding lender-placed (or force placed) insurance among the questions to be addressed are: what perils are available to force place? When is it appropriate to force place insurance on a particular property? How often does force placement occur? Who are the carriers that provide force placed coverage? What is the cost for the coverage, both annually for each force placement? What is the reaction of the property owner when their coverage is force placed? (Hint: keep the phone away from your ear!)