Smart insurance for lending institutions

Secure, easy & smart

Especially created for lending institutions, Lenders Plus is all risks insurance protection for a lenders residential, commercial and industrial property portfolios. It provides reinstatement value of a mortgage property to the outstanding loan value when the property is repossessed, uninsured, under-insured, incorrectly insured, or is a mortgagee in possession let property operated by a lender. 

While standard borrower's property insurance may provide some safeguards, lenders are exposed to extensive risk when a borrower's insurance is adequate, when the borrower fails to renew, when a condition isn't met and voids the borrower's policy, or the Lender is a Mortgagee in Possession, causing financial loss by increased expenses. 

In fact, most lending institutions don't realise how much profit is at risk or what they're spending on uninsured or inadequately insured risks or repairs.

Lenders Plus is different to any other insurance. It reduces the risk of loss caused by these events. It provides peace of mind during events where capital is at risk.

What's the risk?

Insurance

Events

Uninsured asset

Incorrectly insured assets

Under-insured assets

Criminal damage to asset

(By insured or 3rd party)

(e.g. borrower didn't renew, chose to not insure, couldn't insure or had their claim denied

Resulting in

Decreased assets

Decrease capital

Increased expenses 

Increased loss

Impact of

costs

incurred

Asset is repaired

at Lender's cost

Asset isn't repaired, value written off as a loss at Lender's cost

Assets is repossessed, property may be insured at retail standalone pricing at Lender's cost

1

2

3

Lenders Plus offers comprehensive protection unlike any other insurance in Australia

Reduce risk - extra protection, full coverage for value of property portfolio

Profit potential - improves profitability, possible cashflow postitivity, competitiveness & improved credit rating

Wider coverage and less onerous conditions

Save money - individual property insurance policies not required, reduce current costs

Save time - less administration

Easy - comprehensive portfolio, set & forget

Security - established by Lloyd's of London in 2003

Want to know more?
Call Paul Benjamin, Managing Director of Benjamin & Benjamin
on 1800 236 526

© 2018 by Lenders Plus Insurance

Benjamin & Benjamin Insurance Group  |  ABN 37 603 884 108 | AR No 1000626

An Authorised Representative of PSC Connect Pty Ltd  |   ABN 23 141 574 914 | AFSL 344648

Benjamin & Benjamin Insurance Group endorses the Insurance Brokers Code of Practice  to obtain a copy of the code, click here

Benjamin & Benjamin Insurance Group

Level 6, 198 Harbour Esplanade

Docklands VIC Australia 3008

1800 236 526   |   info@lendersplus.com.au

Monday to Friday 8.30 am - 5.30 pm