Meeting your comprehensive insurance needs
J.B. Lloyd & Associates specializes in providing the most comprehensive insurance programs for banks.
Lender placed hazard and flood
Insurance purchased by lenders to protect their collateral interests in real property when they become aware of insurance lapses on an active mortgage loan or after a borrower’s real property is acquired through foreclosure.
Lender placed program
- Automatic coverage — E&O coverage to protect you in the event of an inadvertent reporting failure
- Web-based monthly reporting
- Print borrower notifications from our website
- Wind and hail coverage in all coastal areas
- Builders risk is available for partially completed structures
- Condominium coverage
- Properties automatically roll to the next month for reporting and billing
Outsourced insurance tracking
- Insurance correspondence managed by our service center
- Document imaging and storage
- Deficiency verification to your loan requirements
- Multi-collateral insurance tracking
- Borrower contact through regulatory compliant and client approved notices
- Client has secure access to insurance and loan data
- Customized management reports
- SSAE 18 audited annually
Mortgage protection coverage
Also known as mortgage impairment/E&O, J.B. Lloyd & Associates underwrites this coverage for Lloyd’s of London. Mortgage E&O policies protect you as a lender/mortgagee if you fail to require, procure or maintain your customary coverage on real property collateral and a loss occurs to the mortgaged property. Mortgage Impairment coverage protects your lender/mortgagee’s interest when you are unaware of a lapse of insurance coverage and a loss occurs to the mortgaged property.
Jim Lloyd, president