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11 Topics
zarekjarvis
Enthusiast
zarekjarvisEnthusiast
asked in Insurance Q&A
Waivers for Captive Insurers/Risk Retention Groups

Hello All! I was curious to know what your thoughts are on writing a waiver for Captive Insurers/Risk Retention Groups and what you have seen with some of the agency lenders (Fannie Mae/Freddie Mac) in regards to these types of waivers. Freddie does not have anything in their guide in regards to the policy holder surplus which is usually a problem with these type of insurers, but Fannie Mae does. Any insight would be greatly appreciated! 😊

311
Kristine Economus
Employee
9 months ago
zarekjarvis
Enthusiast
zarekjarvisEnthusiast
asked in Insurance Q&A
Ordinance and Law Missing Coverage

Hello! We are seeing a lot of waiver requests for borrowers that are unable to get ordinance and law coverage at all. Have you experienced this before, and what have you done and prepared to submit a waiver for this?

372
Simon Yiannourakos
Community Manager
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
The property address listed on the ACORD

Does the loan collateral property address listed on the ACORD (or other insurance documentation) need to exactly match the address listed on the Appraisal, including abbreviations and punctation? For example, does “W” need to be updated to the full word “West”, does “Dr.” need to be updated to “Drive”, and do discrepancies with respect to periods (.) or commas (,) need to be resolved?

251
Kristine Economus
Employee
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
The Named Insured listed on the ACORD

Does the Named Insured entity listed on the ACORD (or other insurance documentation) need to match the Borrower Entity listed on the loan documentation including punctation such as commas (,)?

141
Kristine Economus
Employee
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
Number of buildings and # of units listed on the ACORD

Does the number of buildings and number of units at a given address be explicitly listed on the ACORD?

111
Kristine Economus
Employee
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
Terrorism coverage language listed on the ACORD

Does language such “Terrorism is included” on the ACORD need to be updated to “Terrorism is included in General Liability and Umbrella”?

51
Kristine Economus
Employee
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
Liability deductible listed on the ACORD

Does language such as “0 Liability deductible” on the ACORD need to be updated to “0 General Liability deductible”?

61
Kristine Economus
Employee
1 year ago
Amol Mehta
Employee
Amol MehtaSr. Director of Customer Success
asked in Insurance Q&A
AOP Deductibles listed on the ACORD

Does the AOP deductible need to be explicitly stated on the ACORD for Ordinance & Law, Coverage B&C?

161
Kristine Economus
Employee
1 year ago
Advocate Team
Employee
Advocate TeamOur team of experts
published in Advocate Q&A
Welcome to Advocate Q&A!

Advocate Technologies Services  For any questions related to Advocate Technologies, what we do, the services that we offer, our proprietary software - Advocate Q&A is the place for you! 

170
Advocate Team
Employee
1 year ago
Advocate Team
Employee
Advocate TeamOur team of experts
published in General Forum
General Forum Guide

If you have a question about insurance and compliance, you can post and find answers here. Advocate is committed to helping clients navigate the complex world of insurance and compliance, and our team of experts are available to answer your questions and provide guidance.If you would like to know more about Advocate, our services and proprietary software, post your questions here! For any other discussions or questions you may have, you are at the right place! Our General Forum is the place to go. Here, you can connect with other members of the Advocate community and share your thoughts and ideas.

170
Advocate Team
Employee
1 year ago
Advocate Team
Employee
Advocate TeamOur team of experts
published in Insurance Q&A
Freddie Mac & Fannie Mae - WaiversWaiver

Freddie Mac and Fannie Mae are among the nation’s largest home loan lenders, and in order for a borrower to obtain a Freddie Mac or Fannie Mae guaranteed loan, they must obtain insurance that meets specific requirements set forth by the Lender. However, meeting these insurance requirements sometimes proves very difficult for borrowers. When a borrower is unable to meet one of these requirements, a waiver is needed. We at Advocate know that submitting an Insurance Waiver to Freddie Mac/Fannie Mae can present several challenges, and we understand how complex and daunting the process can be. This is why we created a team of insurance experts who have years of experience in writing and submitting Waivers to Freddie Mac and Fannie Mae. These experts are here to help you through the process of writing your own waivers and answer any questions you might have along the way. We will help you navigate Freddie Mac’s and Fannie Mae’s waiver submission process while ensuring all forms are filled ou

1350
Advocate Team
Employee
1 year ago

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