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Russell Bond & Co.

Russell Bond & Co. operates as a managing general agency and surplus lines insurance broker. We recognize the need to earn your business and are committed to delivering the type of added value our clients have come to expect from us since 1950.

Mortgage Impairment Coverage for Financial Institutions

Jim Chojnacki Jim Chojnacki , 10/21/2016
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Mortgage Impairment

Essential coverage for Banks, Credit Unions, Mortgage
Bankers, Insurance Companies and other entities making
loans that are secured by Real Property collateral.
Coverage Highlights:
•    Coverage under our small bank program (community banks with less than $1,000,000,000 in loans collateralized by real property)
•    Coverage under our regular program for lenders in excess of $1,000,000,000 in loans collateralized by real property
•    E&O coverage that arises from the lending process including but not limited to failure to identify collateral in a flood zone; failure to satisfy loan servicing agreements, including the various Government Agency loans.
•    Protects an insured's mortgage interest from uninsured physical damage to the collateral from standard and/or All Risk perils
•    Blanket coverage across the entire loan portfolio*
•    Satisfies regulatory agency requirements for asset protection
•    Satisfies servicing requirements of governmental lending associations (GNMA / FNMA / FHLB)
•    Multi-year portfolio policies are available In addition we offer limits up to $25,000,000 and will offer higher limits if that's what is best for your client.
Product available in all states subject to surplus lines licensing of the broker.

* California Earthquake not available under the Small Bank Program
Ed Reilly, ext. 501
Vice President / Senior Underwriter
Tony Ambrose, ext. 143
Vice President / Senior Broker
Russell Bond & Co., Inc. (In CA, Russell Bond Insurance Services (Lic #: OF76017)
866 Ellicott Square Bldg. | 295 Main Street | Buffalo | NY | 14203
1670 Whitehorse - Hamilton Square Road | Hamilton | NJ | 08690
Hampton Ponds Plaza #12 | 1029 North Road | Westfield | MA | 01085
800.333.7226 | | Fax: 800.677.6779
To contact us, and for more information, please visit our CompleteMarkets storefront .