Learn how Lender-Placed Insurance minimizes risk for financial institutions and offers vital protection for consumers.
With insights from industry experts, this paper demonstrates the significance of LPI in the ever-evolving financial landscape.
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Lender-Placed Insurance is a policy that a lender purchases to protect their interest in a property if the borrower fails to maintain the required insurance coverage.
“A third-party tracking company will be familiar with regulatory requirements and ensures that lenders follow all applicable laws and regulations.“
- Travis Clayton
Vice President / Shareholder
R&Y Financial Institutions Industry Team Leader
Lender-placed insurance can benefit both lenders and borrowers in various ways.
Lender-placed insurance is a crucial component of risk management for lenders. Without proper insurance coverage, the lender is at risk of losing their investment in the property in the event of a natural disaster or other unexpected events. Lender-placed insurance ensures that the lender’s investment is protected even if the borrower fails to maintain the required insurance coverage.
Learn more about LPI's and view our recommendations for selecting the best third-party tracker.
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Learn how LPI minimizes risk for financial institutions and offers vital protection for consumers.
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Ross & Yerger – one of the largest independent, privately-held insurance agencies in the Southeast – was established in 1860 and is headquartered in Jackson, MS. The firm has 127 employees throughout their five offices in Jackson, Tupelo, Hattiesburg, New Orleans, and Memphis. Ross & Yerger is licensed in all 50 states and offers a full range of brokerage services, including insurance, employee benefits, bonds, financial services, and risk management consulting. For more about Ross & Yerger, visit www.rossandyerger.com.