TRI-ARC Financial Services - Force Placed Fire Program

Force Placed Fire Program

Tri-Arc Financial Services, Inc. has designed a Force Placed Fire Insurance Program to provide Lenders with either a Named Peril or All Risk Physical Damage policy in the event your borrower fails to maintain the required hazard insurance. Coverage extends to a Lender's insurable interest as a Lender, Loan Servicer or Trustee.

Our Force Placed Fire Insurance Program is designed to provide Lenders of all types with Guaranteed Issue Protection and a wide variety of limits, deductibles and coverage options, wherever your risk may be located. Our Standard Limit is $2,000,000 per location with Higher Limits of up to $10,000,000 available. You can insure Residential & Commercial Property, Manufactured Homes and Condominiums. Coverage can be written on either a dual interest (total insurable value) or a single interest (mortgage loan balance) basis.

Optional Coverage to the basic Force Placed Fire Insurance Program includes:

Broad Form Commercial
Demolition Expense
Ordinance or Law
Freeze, Discharge & Leakage
Real Estate Owned Property and Contents

Flood and Earthquake
Pollution Extraction / Removal
Mine Subsidence
Builders Risk

For a separate charge paid by the Lender, the Lender may select from an expansive list of supplemental blanket coverages to enhance their Force Placed Fire Insurance Program. These include, but are not limited to:

Blanket Second Mortgage and Home Equity Lines
Blanket Vandalism and Theft
Blanket Condominium and Loss Assessment
Blanket Mortgagor's Inadequate Insurance

In certain states, we can offer the Lender expanded coverage to include Contingent Mortgagor's Coverage which offers a limited form of "Homeowners Protection". Tri-Arc can customize a Force Placed Fire Insurance Program to meet any Lender's specific coverage needs.