Renewable Energy Loan Coverage

Renewable Energy Loan Coverage covers owners and/or servicers of Property Assessed Clean Energy (PACE) loans from loss of mortgage interest in the collateral property due to an uninsured event.

Product Overview

Who's Eligible
Coverage Snapshot
Main Features
Additional Features
Why Choose Bankers Insurance Service

Renewable Energy Loan Coverage from Bankers Insurance Service is designed for financial institutions that own and/or service Property Assessed Clean Energy (PACE) loans.

Renewable Energy Loan Coverage was designed in consultation with industry players to insure Property Assessed Clean Energy (PACE) Lenders’ distinct risk characteristics. This program covers an entity’s PACE portfolio in the event collateral property is damaged resulting in a PACE lien being impaired. The policy covers an owner’s and/or servicer’s loan interest in collateral property.

For more complete product information, please see our Highlight Sheet.

Coverage is provided when:

Mortgaged property is damaged by a covered peril, but the loan owner and/or servicer is unable to collect the loss wholly or partially under the property’s insurance.
Property is damaged by a peril not covered by other insurance. This can include earthquake and flood.
The above damage in collateral results in the property failing to sell at a foreclosure and/or tax sale resulting in default on a PACE lien.

For more complete product information, please see our Highlight Sheet.

Coverage is written on an Ex-Checking Basis
If property lacks residual value after physical damage, tax sale is not required
Coverages available for catastrophic events like flood and earthquake

For more complete product information, please see our Highlight Sheet.

Bankers Insurance Service’s experience in mortgage lending and servicing, combined with our strong underwriting relationships, enable us to offer competitively priced, custom-tailored insurance coverage to meet your client's needs, while also satisfying investor requirements.

As the leading provider of mortgage banking insurance in the U.S., our dedicated team is pleased to assist our clients in other important ways:

Offer policy modifications or enhancements to existing policies and programs to meet individual needs
Create new insurance programs and policies to meet the ever-changing needs of the mortgage lending and servicing community
Show you how to satisfy Fannie Mae, Freddie Mac, Ginnie Mae and warehouse lender insurance requirements and answer their questions on your behalf to help you with your business partners
Provide state-required license bonds as an additional service to our mortgage banking clients

Our goal is to ensure our clients have the investor and warehouse lender required coverages, as well as custom coverage to help protect their interests.

Or call 800-323-2743 to speak to a Bankers Insurance Service Specialist.