WNC Insurance Services, Inc. – Lender Placed Property Insurance

WNC provides and administers lender placed property insurance programs for banks, credit unions, finance companies, and other lending institutions that originate or service loans secured by real or personal property. Hundreds of financial institutions nationwide now rely on WNC’s lender placed programs to protect their loan portfolios from potential uninsured losses.

WNC’s lender placed flood and multi peril insurance provide the benefits that lenders look for, including immediate coverage (no waiting period); automatic coverage; no co-insurance penalty; ability to backdate coverage up to 30 days; and deficiency coverage when a borrower’s policy does not have the right amount of insurance.

WNC’s lender placed collateral protection program protects a lender’s security interest on personal property pledged as loan collateral. The lender gets continuous protection for all-risk physical damage, waiver of repossession, confiscation, conversion (skip), and insufficient insurance.

To complete its lender protection package, WNC provides full-outsourced insurance tracking that identifies a lender’s exposures per loan, per collateral; sends borrower notices of insurance requirements; automatically places coverage if the borrower does not provide proof of insurance within the time period allowed by the lender; and provides a secure, internet-based system to view insurance history, correspondence, and claims.

For more information on protecting your loan portfolio from potential uninsured losses, call WNC’s Michael Randall at (803) 237-5428 or mrandall@wncfirst.com or Sheri Kordsmeier at (770) 641-0264 or skordsmeier@wncfirst.com.