Commercial mortgage risk insurance products

Purpose

Commercial mortgage risk insurance products protect any industrial and service real estate, office building and space used to secure the loan, provide coverage for borrower and co-borrower’s life and disability, and loan payment interruption for businesses.

Collaborating insurance company

Practical daatgal LLC

• Insurance items

• Real estate      

• Borrower’s life and disability

• Payment interruption

• Insurance value and rate of premium

Individuals:

 
Companies:

Insurance policy is effective when premium is paid and in force for one year.

Insurance risk and protections

Real estate insurance: 

• Fire;

• Electrical risks;

• Water damages;          

• Natural disasters (Major storm, blizzard, flooding, earthquake, landslides and other earth movements, lightning, hail, etc);

• Damage caused by act of third party.

Borrower’s life:

• Accidental death;

• Accidental disability

Payment interruption:

• Borrower’s bankruptcy determined by the court;

• Consequences of war, revolution, riot, crowd disturbance;

• Force majeure.

Coverage exclusions

Risks not covered by the policy.

What to do when insurance incident occurs?

Insured is responsible to notify within 5 days to Practical daatgal LLC’s 77776677, 94001525.

Required documents for insurance claims

• Insured’s request;

• Original copy of insurance policy;

• Documents issued by authorized entity which describes cause and scope of damage;

• If necessary, correspondent professional entity’s definition;

• Copy of death certificate, Examination report of cause of death (physician statement, death summary, test results, post-mortem examination, autopsy);

• Credit and collateral contracts;

• Proof of disability (hospital and labor inspection commission act and other possible evidences);

• Bank description;