American Modern Home Leaves Financial Institution Biz

Miniter Group announced today that American Modern Home Insurance Group is intending to exit the forced place/REO/OREO property insurance marketplace over the next twelve to twenty-four months.

Read American Modern Homes press release here.

This is a bump in the road but will not be a major issue for most banks.  Brokers like Miniter will find replacement insurers for their clients.

I have long counseled my clients to work with specialists like Miniter and Lee & Mason for the lender asset protection lines of insurance. They know the market and the pitfalls.