Protect your institution’s interest in personal property used as collateral.
Our lender’s single interest (LSI) insurance program is specifically engineered to secure your interest in collateral for consumer loans. Force-placed insurance programs, and the associated tracking for automobile and consumer loan portfolios, are a constant administrative burden and cost, and can even drive up consumer loan delinquency by as much as 20%. LSI insurance can eliminate these burdens and costs by offering a blanket coverage policy to protect your interest in loans secured by automobiles, motorcycles, watercraft, recreational vehicles and other chattel-type property.
In the event the borrower’s insurance on the property lapses or is cancelled, the LSI policy will cover:
Coverage is customizable to your unique needs, and premium and claims are easily reported and managed using our user-friendly online LSI Platform. We work to serve you however robust your needs, going far beyond simple property and casualty coverage and leveraging the full power of NFP’s network to deliver services to support your organization.
Nima Seirafipour 443.280.6550 Nima.Seirafipour@nfp.com
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