Reduce liability for losses on commercial accounts by adhering to four requirements.
J.B. Lloyd & Associates Lender Placed Insurance
J.B. Lloyd & Associates LLC has been a leader and pioneer among Lender Placed Insurance providers since 1988. In the early 2000s, J.B. Lloyd was among the first to offer clients an online reporting system, allowing banks the ease and efficiency of instant coverage on any property in their loan portfolio.
In April 2012, J.B. Lloyd & Associates upgraded their already revolutionary online report system. The new system allows loan servicers a quick, reliable way to manage insurance coverage on properties in their loan portfolios. It enables them to track covered loans, run reports, notify borrowers, and add/delete properties, all with the click of a mouse. All this can be done at any time, day or night, any day of the year, including holidays, and allows for instant coverage, thus minimizing the bank’s exposure to risk on its interest in these properties.
The online reporting is safe, secure and extremely user-friendly. It greatly reduces the administration times, and therefore the administrative cost to the bank. Prior to J.B. Lloyd & Associates’ innovative reporting system for online clients, this process required the efforts of a full-time employee. With this system, in nearly all cases the job can be handled in a fraction of the time taken by existing loan department personnel.
This system has been of great benefit to the banks served by J.B. Lloyd & Associates, will continue to have a positive effect on the operations of current and future clients, and adds to the lender place insurance industry as a whole. Therefore, we believe that J.B. Lloyd & Associates is a strong candidate for the 2012 Innovative Solutions Award.
J.B. Lloyd & Associates