NorthStar Group can relieve the headaches of uninsured physical damage losses. We offer two programs for auto loans and other collateralized installment loans – Collateral Protection Insurance (CPI)  and Lenders Single Interest (LSI).

 

With lender-placed collateral protection insurance, or CPI, individual loans or leases are tracked to verify in-place insurance coverage, adequate coverage, and correct loss payee information. Force-placed coverage is activated and billed to non-compliant borrowers.

 

Scope of coverage

• Physical damage coverage

• Wide range of collateral types tracked and protected

• Differentiated borrower classes and risk exposures

• Borrower coverages: dual interest, all risk, actual cash value settlement

 

Benefits

• Insurance verification calls result in fewer customer service issues

• Increased accuracy and reduced risk with electronic data interchange (EDI)

• High limits protect varied lending targets

• Annual certificates issued, with optional terms

• Automatic coverage insures complete risk management

 

Options

• Repossessed collateral

• Instrument non-filing Errors & Omissions

• Confiscation, conversion and secretion

• Repossession expense reimbursement

• Mechanic’s lien

• Repossession storage expense

• Deficit unpaid balance protection