Real Estate Claim Reporting Procedures

 Financial Insurance Brokers
Claims Department
PO Box 141516
Coral Gables, FL 33114
Phone (866) 552-9846      (305) 441-9932      Fax: (305) 441-8632

The policy states that the “Lender” is the “Insured”.   Financial Insurance Brokers will correspond directly with the Lender in processing the claim.   From time to time, we may contact the borrower for claim investigations however we ask that you do not provide our telephone number to the borrower.   Any information regarding the settlement of a claim may only be discussed with the Insured Lender.

1. Complete the Notice of Loss form and forward to Financial Insurance Brokers along with supporting documentation.   Please be sure to complete the Lender Contact information at the bottom of the form.   Claims may be submitted either by fax or mail.

2. Copies of the following documents should be included with the Notice of Loss form:
   • Loan Agreement
   • Credit Application
   • Printed Payoff Inquiry
   • Police Report (if available – may be required for some claim type
     
     
3. Additional information or supporting documentation may be requested depending on the type of claim submitted.
   
   
4. Upon receipt of the Notice of Loss form and supporting documentation, a claim number will be assigned and an Acknowledgement letter will be faxed back to the Insured Lender.   Any necessary documentation that was not received will be specifically noted on the Acknowledgement letter.
   
   
5. Financial Insurance Brokers will assign and independent adjuster to appraise the damage to the insured collateral.   Appraisals are typically completed and faxed back to Financial Insurance Brokers within 3 business days.

Once all necessary documentation has been received from both the Insured Lender and the independent adjuster, the claim will be reviewed for settlement.   All settlements are made in accordance with the provisions of the Master Policy.   Settlement drafts (checks) are prepared daily by Financial Insurance Brokers.   Settlement drafts (checks) are made payable to the Insured Lender and are sent directly to the Insured Lender.   No settlement drafts will be sent to borrowers or any other third party.   The settlement package will also include a copy of the appraisal and the Settlement Worksheet that supports the settlement calculation.

Click here to download Real Estate Notice of Loss form