Lender-Placed Hazard

The Highest Level of Protection for Your Mortgage Portfolio

Balboa’s lender-placed hazard insurance program features the highest level of compliance, value and quality control. Our scalability allows us to work with companies of all sizes, including the most recognized banks, financial institutions and mortgage servicers in the industry, so we can customize programs to fit the unique requirements of virtually any lender. Our unrelenting focus on compliance and best practices means peace of mind for you.

Risk-Based Protection^SM – Because One Size Doesn’t Fit All

A major breakthrough in in lender-placed hazard, our unique Risk-Based Protection program matches premiums to risk and can reduce your lender-placed insurance premiums for a large segment of your portfolio.

Risk factors include:

• Type of property (residential, commercial or manufactured home)
• Occupancy status (owner occupied, tenant occupied or vacant)
• Age of dwelling
• Plus many more…

Balboa is the only insurance company in the lender-placed mortgage industry offering a nationwide risk-based insurance product that is filed and approved in every state.

With our Risk-Based Protection, you’ll also enjoy:

• High coverage limits – Insure up to $5 million per property with no minimum coverage amount or minimum premium.

• Potential for reduced premiums – You could see a reduction in premiums under our Risk-Based Protection program, which can help create greater customer satisfaction and goodwill.

• Coverage identical to conventional programs – Terms, conditions, exclusions and limitations of our Risk-Based Protection mirror those of our traditional lender-placed insurance programs.

• Easy implementation – Our Risk-Based Protection program does not require new systems or significant process changes on your part.

• Financial strength – We have an “A” rating from A.M. Best Company.

Providing What You Need

Committed to meeting and predicting your needs today and tomorrow, Balboa is always developing innovative solutions. Our lender-placed programs give you:

• State-of-the-art insurance tracking – Advanced tracking capabilities allow us to focus communications on customers who are truly uninsured, helping to protect the integrity of your brand.

• Advanced data capturing capabilities – Our cutting-edge technology simplifies the insurance workflow process by using the best in scanning, optical character recognition (OCR) and electronic document distribution to measurably boost accuracy on a repeated, regular basis.

• Client-focused service – Our superior customer service technologies and management tools deliver the highest level of service to you and your customers.

• Industry leadership and expertise – We are an industry-leading, lender-placed hazard insurance provider supporting many of the nation’s top mortgage servicing organizations.

• Nationwide compliance – We underwrite products that have been approved by the applicable departments of insurance.

• No hidden fees – We do not charge additional or hidden fees, such as binder or policy fees.

• Lapse coverage – We give your customers every benefit of the doubt by not charging a premium, as long as they provide proof of insurance before the end of our notification cycle and no claim has been made.

Reliable Fire, Flood and Wind/Hailstorm Coverage

Our fire, flood and wind/hailstorm programs are highly reliable, cost-effective ways to protect your mortgage portfolio.

• Fire – Our lender-placed hazard insurance program provides multiple coverage options including deductible options, automatic coverage, windstorm, blanket condominium coverage and blanket vandalism.
• Flood – Our lender-placed flood insurance program provides coverage efficiently and in accordance with federal guidelines.
• Wind/hailstorm – Our lender-placed wind/hailstorm only coverage protects your customers’ property when their homeowners policies exclude this critical peril.

Other lender-placed hazard products and services available for your benefit:

• Blanket fire coverage (2nd trust deeds and equity lines)
• Blanket flood and flood gap coverage
• Comprehensive call-out services
• Escrow disbursement services
• Property loss draft processing services
• REO property and liability coverage

Unmatched Customer Care and Support

Every product we offer is backed by best-in-class service and support. Our customer service focus is unmatched in the industry. We offer consistent, measurable support and take great pride in our professionalism when assisting your customers.

Your customers’ calls are handled using the latest telecommunications technology to route and answer calls, ensuring the highest level of performance.

• To ensure prompt responses to every customer care call and adhere to your SLAs, we operate call centers in Tempe, AZ, and Pittsburgh, PA, as one virtual unit.
• Your customers get automated follow-up calls letting them know when proof of insurance has been received and when their insurance has been paid.
• Working with you, we will give your premier customers premier treatment.
• Our bilingual customer care staff can assist your non-English speaking customers.

We don’t just talk about excellent customer care – we give you a way to verify our performance. 100% of our customer care calls are recorded and stored for seven years, plus we give you access to live calls – a feature no other insurance tracking provider is likely to provide.

Technological Advantage

Cutting-edge technology is a key element of our risk mitigation programs. Our solutions, which feature some of the most advanced capabilities available in the industry today, are focused on obtaining the highest levels of efficiency and accuracy.

We also make sure you have access to your data 24/7 via our secure, online client portal, which features a powerful combination of state-of-the-art technologies.

To learn more about how our unparalleled technology makes doing business with us simple for you and your customers, click here.