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Institutional risk management

Protect your interests – and your customers dreams

As a lender, you’re helping make dreams come true, every day. You helped John buy the boat he uses to teach his children how to fish. You loaned Aliyah the funds to buy a camper for her and her family to take a cross-country vacation. And you provided the loan that Carlos used to buy his mom a new car. Mitigating your risk can help you continue making dreams become a reality.  

Products that set us apart

Collateral protection insurance

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

Flexible program options include:

  • Costs can be added to a borrower’s loan balance
  • Blanket or individual coverage
  • Variety of deductible options
  • Quick vehicle appraisals
  • Skip tracer network
  • Claims investigations

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 in the event they suffer a loss as a result of not filing a lien against the collateral with government authorities. NFI is placed only on non-purchase money loans or those where the property used as collateral is not purchased with proceeds of the loan, typically furniture and appliances.

Example: Your 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. You have 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

Loss must be solely as a result of the lender not filing its security interest.

Contact info

Existing policy assistance

Please refer to your current statement for contact information.

Let us help protect your members

Start a conversation to learn more about the benefits a strategic relationship with us can provide you and your members.

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DOFU 10-2023