Author: Barry Binder In today’s dynamic market, lenders need to protect their collateral more than ever. For lenders offering vehicle loans, collateral protection insurance (CPI) is a worthy consideration. Data…
Collateral Protection Insurance (CPI) is an essential component of asset protection for lenders seeking to safeguard their vehicle portfolios. HUB Financial Services CPI insurance policies are carefully designed around a…
Primarily, lender-placed insurance is necessary to protect the financial interests of a lender. Should a borrower’s property be damaged or destroyed while it is uninsured, insurance coverage will not be available for repairs or rebuilding. If this happens, your financial institution would sustain a financial loss on the property.
VSI insurance, also known as Vendor Single Interest Insurance, is a specific type of insurance that aims to protect a lender’s portfolio of vehicle loans by transferring the risk to the insurance company.
Financial institution risk management is a constant concern and identifying potential pitfalls is crucial to maintaining profitability and stability. In this article, we’ll explore the most common lending risks and…