Case Studies: Premium Hikes? Finding Insurance Options For Our REO Service Firm
- Skyhill Financial, Inc

 

As we are all too familiar with, the Mortgage Banking, Real Estate and Insurance industries have gone through considerable change over the past several years. Skyhill's ability to reach out to the ever declining number of insurance carriers to competitively price, navigate through appropriate coverage, make sense of alarming increases in our annual policies and anticipate insurance industry change was limited before aligning ourselves with MBIG. Lee has helped us with anticipating change and with being adequately covered at the best possible price.

As an REO service provider to financial institutions, we work in a challenging environment. Not a lot of insurance companies are underwriting in this area, and those that are have made alarming increases to annual premiums. We found our options severly limited until we began working with Lee. He has obtained competitive bids for us from 6, even 8 carriers. Lee digs deep and gets us as much coverage as he can for the best price.

He believes in the personal touch. This is rare in an age where everyone does everything by computer and phone but Lee has actually flown out to visit us. He doesn't just ask us to fill out an online app or form. He sees what we're doing and gets an idea of our process. This enables him to make sure he's seeking out the right coverage for us.

I don't have the insurance vernacular to understand the language in a policy or how changes in the industry will affect my company. But, Lee and his team always pick up the phone when I call and spend the time to walk me through it. Compared to going back in forth in email, it's a huge timesaver and benefit to have someone explain it to me over a short phone call.

He's very in tune to what's happening in the mortgage industry. On one recent trip, he let us know about industry changes he had heard were in the works and began to look into how that would affect us. Typically, you'll hear from your insurance broker before you need to renew. But, Lee is constantly looking out for our needs. When the regulations did in fact change, we were able to get our policies updated quickly.

- Jason Saito
VP of Finance
Skyhill Financial, Inc