Bank-Owned Property Exposures – REO

The insurer Zurich just released a "white-paper" on the topic of the liabilities faced by banks on Real Estate Owned properties (REO). Sorry Zurich but your piece is short on real help for banks.  Seems more like a marketing piece than a white paper. Here's some actual help for banks. There are three main exposures banks face in … [Read more...]

Insurance Update of Chinese Drywall Damages

What a mess! I have been reading with interest the reports of defective Chinese drywall.From an insurance perspective your property and home insurance probably will not provide coverage.Contractors may not have coverage either, depending on the construction defect exclusions in policies.Here is an article on the financial impact of the issue on … [Read more...]