Financial Institutions
Specialist Lloyd’s facilities for banks, credit unions, mortgage bankers, and other lending institutions. In-house capacity across two dedicated product areas.
Harman Kemp has developed specialist in-house facilities at Lloyd’s specifically for the needs of lending institutions. Whether you are a commercial bank, savings institution, credit union, mortgage banker, or property management company, our two dedicated product areas are designed to protect your lending portfolio and your physical property assets. All cover is underwritten 100% by certain Underwriters at Lloyd’s, rated A+ (Superior) by A.M. Best and AA– (Very Strong) by S&P Global.
Mortgage Impairment
Protecting lending institutions when a borrower’s insurance fails to respond. Our in-house Lloyd’s facility covers mortgaged and repossessed property portfolios on a Broad All Risks basis, including flood and earthquake, with a facility limit of USD 50,000,000. Available to all types of lending institution with in-house authority for portfolios up to USD 1.5 billion.
Lender Placed & Foreclosed Hazard
Comprehensive coverage for lenders on properties where the borrower has failed to maintain insurance (Lender Placed) and on foreclosed properties where the bank has taken back title (REO). Physical damage limits up to USD 25,000,000, with General Liability, flood, and excess flood also available. Coverage nationwide including US territories. No minimum and deposit premium required.
Please contact us to discuss your portfolio and requirements. Our team will advise on the appropriate product and guide you through the submission process.