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Last Words


Financial institutions can’t control the vagaries of the real-estate market, but they can limit their exposure on the properties they own.


“Operate as if there is no insurance market or real estate owned and you’ll be way ahead of the game.”


Christopher Taylor, Zurich


With a strategy and a systematic process in place, banks can minimize their exposure and maximize their return on foreclosed properties in their inventory. As a first step, bank risk managers must work closely with the credit-management department and be sure to check contracts before making decisions. In the event of a difficult claim, the broker who has placed the coverage should be an advocate who can help with mitigation.


Copyright © 2012 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.


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