“The best we can do is size up the chances, calculate the risks involved, estimate our ability to deal with them, and then make our plans with confidence.”
– Henry Ford
Insurance exists to help ease the risks associated with the commercial lending industry. NorthMarq is here along the way to help lenders and borrowers discuss the risks associated with insurance, so that they can feel more confident about the plans and investments they have made. That confidence is especially vital in times of crisis when the time comes to make a claim on an insurance policy.
In this issue, we discuss the importance of clear procedures and Servicing expertise for handling insurance claims, especially in the wake of significant events like hurricanes Harvey and Irma and the California wildfires, to name a few. We also put the spotlight on Insurance Supervisor Lindsay Ellingson, one of NorthMarq’s rising stars. Lastly, we highlight NorthMarq’s role as host of the annual MBA Insurance Conclave, which is an event intended to discuss insurance trends and risk faced by the commercial lending industry.
Hurricane Harvey and other recent widespread natural disasters put our Servicing team’s processes to the test in 2017. Because of the sensitive nature of these significant events and the potential for substantial impact on our customers’ investments, it is imperative that NorthMarq communicates with our customers as quickly and efficiently as possible. Recent changes to our internal processes for these significant events and other insurance losses ensure that we are handling our customers’ needs in the best manner possible.
Our employee spotlight is on Insurance Supervisor Lindsay Ellingson. Lindsay is an “outside of the box” member of our Servicing team, bringing one-of-a-kind experience and perspective to our group. Her drive for a depth of understanding of the ins-and-outs of insurance is balanced by a desire to provide our customers an experience that lets them know that we have their best interests in mind. Add in some unique interests and tastes, and it is clear why Lindsay is such a valued leader within our group.
In September, NorthMarq had the honor of hosting the MBA Insurance Conclave. This annual event is a gathering of minds to discuss trends and concerns with commercial insurance. It also allows commercial loan servicers and lenders to learn from each other’s experiences and successes.
Insurance is a key component to protecting our customers’ investments. NorthMarq’s Servicing team is always striving to improve efficiencies and to stay on top of industry trends to ensure that we can be a reliable resource for our borrowers and lenders. Thank you for trusting NorthMarq to be that resource for you. Happy New Year to you all, and may your insurance claims be few!