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Making Sense Of The Coverage Chaos In Just 5 Minutes

– Scratch

We needed a specific insurance to close a major contract. We asked our broker of record to help us secure the coverage. He came back and said what we needed didn’t exist or, at least, that it wasn’t applicable to us. I then went to another broker who similarly told me that our ask was too high. He couldn’t get it done.

When I first connected with Lee Brodsky of Mortgage Banking Insurance Group, he immediately understood how to address our insurance needs. In fact, Lee figured out very quickly that we actually had the required insurance, we just needed updates, such as increasing the limits. The regulators also required very specific wording in the policy. I was trying to scroll through the guide online to tell Lee about that wording, and, even though he was on his phone while driving, he started reciting it pretty much word for word off the top of his head!

I contacted Lee on a Monday afternoon, and he was able to update the policy by that Thursday. In that first conversation, I said to him, “Lee, what you’ve just told me in the last five minutes makes more sense than anything the many other people I’ve spoken to have said over the last four weeks.”

Unlike the other brokers we tried to work with, Lee has a specialized understanding of financial services insurance and solved the issue in a matter of days. He made himself very available to me during that time. I would send him emails early in the morning, and he would respond straight away. He made sure to proactively follow up with the carrier–no pushing needed on my part. He also leveraged his relationships with the underwriter and carrier–he said he knew them all for years–which helped get this over the line and meet our contractual requirement.

Because of his expertise, the next time we need insurance, he’ll be the first person I call. I would tell anyone looking for mortgage banking insurance to go directly to Lee and save yourself a lot of time and heartache.

– Kate Wilson
Public Policy and Government Relations Specialist