Economic risks and exposures associated with mortgage portfolios have become more complex; so has protecting banks from losses. As a response to this, OneBeacon Financial Services has created a new policy to account for different types of losses that could impair mortgages, as well as certain exposures from originating and servicing loans.
The new Mortgageholders Coverage Protection (MCP) policy is divided into three sections:
Each section contains multiple available insuring agreements, creating a broad and flexible product offering that allows you to select options to tailor coverage to your needs.
Insurance could lapse without your knowledge, and an endorsement approach may no longer be the best solution for protection. The benefit of OneBeacon’s Mortgageholders Coverage Program is that there are over fifteen different insuring agreements available, with ample room for flexibility for a customized solution that meets your needs. Here are just a few of the coverage highlights:
Take this time to review and upgrade your protection. To learn more about MCP, contact Betsy Good at firstname.lastname@example.org or 781.332.8357.