Bank Loan Insurance Requirements
As an independent brokerage, one of the key values brought to our clients is the ability to shop multiple insurance carriers throughout the country. This is a great resource for collateral assignment insurance requirements for bank loans to ensure closing.
Some of the biggest hurdles when closing a loan is satisfying the collateral assignment insurance requirements. We found that the majority of borrowers use their personal insurance agent. This could cause a delay in loan closings if their agents aren’t familiar with proper requirements.
Life Insurance
We offer Accelerated and Traditional Programs. Once the applicant is approved, and paid; our team will provide:
- Copy of the New Business Package
- Confirmation letter from the insurance company acknowledging the assignment.
- Copy of the stamped executed assignment.
Business Insurance
Turnaround times are within days for the entire process - quote, bind, and issue - allowing us to provide all necessary documentation - certificates and/or accord forms - to our banking partners in under 10 days.
We offer insurance for:
- General Liability
- Business Property
- Workers Compensation
- Business Interuption
- Builders Risk
- Commercial Auto
- Windstorm
- Excess/Umbrella
- Flood