Bank-Owned Property
With lending institutions facing the risk of higher than normal foreclosure percentages, there is a growing need for an REO insurance program that can stand on its own.
SUI provides financial institutions with peace of mind knowing that foreclosed assets will be protected by best-in-class products with highly competitive insurance rates.
A Smart Alternative
Traditionally, financial institutions insure foreclosed/REO assets through a lender-placed policy for the mortgagee with REO coverage added as an endorsement. SUI provides the lender a stand-alone REO master policy outside of the lender-placed environment. This tailored approach translates into smart property protection at very competitive rates from a top-rated carrier.
- Coverages include Hazard, Wind, General Liability and Flood
- Property limits up to $2 Million
- Customizable deductibles
- Residential and Commercial properties qualify
- Occupied or vacant properties eligible
- Automated monthly premium billings to help cashflow and control without refund processing from annual certificates
- Schedules of properties are eligible for automated reporting
- Rapid implementation and virtual training and support
