Lender Placed and Foreclosed Property

Experts Focused On Your Protection. We Deliver.

The Lender Placed and Foreclosed Property Policy (LPF) has been designed to provide mortgage lenders and servicers with the insurance coverage necessary to protect their mortgaged and foreclosed properties and premises liability exposures.

Insureds can pick and choose between the multiple coverage(s) available. The only coverages not available on a standalone basis are Lender Placed Flood and Foreclosed Premises Liability Coverages.

Lender Placed coverage is written on a single interest basis, providing coverage for limits up to the outstanding mortgage balance.

Coverages: Lender Placed Hazard Coverage - protects the Lender Placed Flood Coverage – protects the lender’s lender’s interest in mortgaged properties when they interest in mortgaged properties when they become become aware that the borrower has not maintained aware that the borrower has not maintained the the required hazard insurance. required flood insurance.

• Coverage is available on either a Basic Or Special • Limits of insurance are equal to those available Cause of Loss form. through the National Flood Insurance Program. • Replacement Cost coverage is available if the • Replacement cost coverage is available on eligible damaged property is repaired or replaced at the single family residences. same location. • Coverage can be provided for both residential and • Coverage can be provided for both residential and commercial mortgages. commercial mortgages. • Additional Coverage includes: debris removal, • Additional Coverage includes: debris removal, coverage for sandbags and supplies, property extraction of pollutants, fire department service removed to safety, condo loss assessment, charge and fire protection devises recharging pollution damage and increased cost of expenses. compliance. • Coverage provided under this Coverage Form are as broad as those provided under the National Flood Insurance Program.

Visit us @: www.berkleyfinsecure.com

Products and services are provided by one or more insurance company subsidiaries of W.R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/Licensing/License.htm Lender Placed and Foreclosed Property

Coverages (cont.): Foreclosed Property Coverage – provides hazard Coverage Highlights coverage on either a Basic or Special Cause of Loss form for properties that have been acquired by the • The LPF policy is issued on an annual renewable insured through foreclosure. basis, providing uninterrupted coverage for locations reported in compliance with the policy • Provides coverage for both residential and reporting provisions. commercial properties. • Coverage on any location can be purchased for any • Replacement cost coverage is available for period of time up to one year. properties that are replaced at the same location and properly insured to value. • Automatic coverage is provided for Lender Placed and newly acquired Foreclosed properties that are Foreclosed Property Loss of Rental Income – ultimately reported to us in compliance with the provides Loss of Rental Income coverage on reporting provisions. foreclosed properties that have been leased to others.

Foreclosed Premises Liability Coverage – protects the insured against legal liability from losses occurring at foreclosed properties.

• Limits of Insurance up to $1,000,000 per occurrence and $2,000,000 annual aggregate are available. The Best Choice For Your Insurance Needs Let us know how we can deliver for you! 866.539.3995 [email protected]

Visit us @: www.berkleyfinsecure.com