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Russell Bond & Co., Inc.
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Russell Bond & Co., Inc.
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Mortgage Impairment

When it comes to essential coverages for banks, credit unions, mortgage bankers, insurance companies, and other financial institutions, the Mortgage Impairment program from Russell Bond & Co., Inc. offers a comprehensive and reliable solution. This program is designed to protect your client’s financial interest in real estate-secured loans from a variety of exposures, including uninsured physical damage and servicing errors.

Ideal Accounts and Appetite

Russell Bond’s Mortgage Impairment program is an excellent fit for:
  • Community banks with under $1 billion in real estate-secured loans
  • National and regional lenders exceeding $1 billion in real estate-secured loans
  • Mortgage bankers and servicers handling government-backed loans (e.g., GNMA, FNMA, FHLB)
  • Insurance companies with mortgage portfolios requiring asset protection
Whether you're working with a small-town lender or a large-scale financial institution, this program can scale to meet your client’s needs.

Coverage Highlights and Advantages

Russell Bond offers one of the most robust and flexible Mortgage Impairment programs in the industry, including:
  • Coverage options tailored for both small and large lenders
  • Errors & Omissions (E&O) protection related to the lending process, such as:
    • Failure to identify properties located in flood zones
    • Failure to meet loan servicing agreements
  • Protection against uninsured physical damage to mortgaged properties, including standard and All Risk perils
  • Blanket coverage across the entire loan portfolio*
  • Compliance support for regulatory asset protection requirements
  • Meets servicing requirements of GNMA, FNMA, and FHLB
  • Multi-year policy structures available for long-term portfolio stability
  • Limits available up to $25,000,000, with higher limits considered as needed
*Note: California Earthquake coverage is not available under the Small Bank Program.

Underwriting Notes and Program Structure

This is a surplus lines product, available on a non-admitted basis. All submissions are subject to underwriting review and applicable surplus lines licensing requirements in each state. The program is backed by carriers with strong A.M. Best ratings, ensuring financial stability and claims capability.

Territories and Availability

The Mortgage Impairment program is available in all 50 states and the District of Columbia, subject to surplus lines licensing. You can confidently serve clients nationwide with this flexible and scalable solution.

Why Work With Russell Bond & Co., Inc.?

As a trusted Managing General Agency, Russell Bond & Co., Inc. brings decades of expertise in specialty insurance programs. Their Mortgage Impairment offering reflects a deep understanding of lender exposures and regulatory demands. With a commitment to responsive service and underwriting flexibility, their team—including experts Ed Reilly and Tony Ambrose—is ready to help you tailor the right protection for your clients. Whether your client is a community lender needing basic coverage or a national institution requiring complex portfolio solutions, Russell Bond has the tools and expertise to help you place the risk effectively.

Frequently Asked Questions

What types of accounts are a good fit for this Mortgage Impairment program?

Ideal accounts include banks, credit unions, mortgage bankers, and insurance companies with real estate-secured loan portfolios, from under $1 billion to over $1 billion in loan volume.

What types of coverages are included in this program?

The program offers protection for uninsured physical damage to mortgaged properties, E&O coverage related to the lending process, and blanket portfolio coverage, among others.

Is this program admitted or non-admitted?

This is a non-admitted program, subject to surplus lines licensing in each state where it is offered.

Are higher limits available beyond the $25 million standard offering?

Yes, higher limits can be considered based on underwriting and the specific needs of the client.

Is the program available nationwide?

Yes, the program is available in all 50 states and Washington, D.C., subject to surplus lines regulations.

Need help placing an account? Connect with a market specialist.

U.S. States Available

  • U.S. States Available:
  • Provider Type:
    Managing General Agency
  • Admitted:
    0
  • Carriers:
  • Carrier Ratings:
    -
  • Commission:
    -
  • Min Premium:
    -

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CONTACT INFORMATION

LOCATION

295 Main Street , Suite 866
Buffalo, NY 14203
800-333-7226
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Russell Bond & Co., Inc. has other insurance programs like Employment Practices Liability Insurance.