Protect your clients’ interests and their customers' dreams

Your clients help make dreams come true, every day. They helped John buy the boat he uses to teach his children how to fish. They loaned Aliyah the funds to buy a camper for her and her family to take a cross-country vacation. And they provided the loan that Carlos used to buy his mom a new car. But all these loans came with risk to your clients. Help your clients mitigate risk so they can continue making dreams become a reality with these solutions.

Collateral protection insurance

Collateral protection insurance (CPI) is a risk management tool that mitigates losses associated with uninsured loan collateral. If a borrower doesn’t maintain adequate comprehensive and collision coverage, CPI transfers the risk to Securian Financial.

Flexible program options include:

• Borrower and lender coverages
• Different combinations of conversion, secretion and confiscation coverage
• Deductible options
• Claims investigations options
• Past due payment options

Other services

• Skip tracer network — Access to non-insurance partners who have excellent rates locating and recovering collateral.
• Salvage/disposal network — Access to non-insurance partners who are efficient at acquiring and disposing of salvage, which helps control expenses.

Blanket vendor single interest

Blanket vendor single interest (BVSI) protects your loan portfolio from the uninsured. If an auto is repossessed and there is damage with no insurance coverage, this policy will pay for that damage within the limits of coverage.

Protects against uninsured: autos, mobile homes, motorcycles, watercraft, RVs, personal property, machine and equipment and other eligible types of collateral.

Our BVSI is designed to fit your specific needs with customized:

• Coverage options
• Deductibles
• Limits
• Pricing

Non-file insurance

Non-file insurance (NFI) protects a lender if they suffer a loss because they didn’t file a lien against the collateral with government authorities. NFI is placed only on a loan that is secured with property the borrower already owns (typically furniture and appliances).

Example: A borrower gets a personal loan for $1,500 because he needs to pay a medical bill, and he uses his big-screen TV as collateral. The lender has a non-purchase money security interest in the TV because it was not purchased with proceeds from the loan.

NFI pays a benefit in the event of default* where the lender:

• Is unable to repossess the collateral
• Is unable to obtain the proceeds from the sale
• Cannot enforce its right for other reasons

*The loss must be a result of the lender not filing its security interest.

NFI is only available for finance companies