View this article online: https://www.claimsjournal.com/news/national/2005/08/15/58340.htm
Now available online at www.dmp-ace.com, ACE Disaster Mortgage Protection(SM) (DMP(SM)) insurance is offering producer/lender benefits including expanded distribution, increased revenue, enhanced customer loyalty, and streamlined application and approval.
ACE Disaster Mortgage Protection(SM) insurance is designed to help provide a financial safety net for homeowners facing the daunting task of recovery in the wake of disaster. DMP helps protect the policyholder’s financial investment by covering the mortgage commitment if the home sustains significant structural damage or is destroyed as a result of disaster. Unlike flood, earthquake or other event-specific insurance policies, DMP covers damages caused by any type of disaster, and provides an additional financial assist by reimbursing property insurance deductibles.
According to Kimberle Kennedy, vice president, ACE Select Markets, as consumer demand for the coverage continues to grow, more and more producers and mortgage lenders are offering DMP. Those that do, reports Kennedy, recognize its potential to bolster revenue streams, and helps them to cement long term customer relationships.
“DMP complements a wide range of consumer insurance products, including homeowners, flood, earthquake, and compatible product offerings. If a consumer is shopping for flood insurance, for example, and also owns a home or condo, he or she is a great prospect for DMP. Consumers are quick to recognize its value. Producers find it easy to convey the real and quantifiable protection that DMP provides, and the testimonials we receive from policyholders, including Floridians who endured last year’s multiple hurricanes, prove that value over and over again,” commented Kennedy.
DMP’s benefits include covering mortgage obligations of home- or condo-owners whose dwellings are destroyed or are deemed uninhabitable for more than 48 hours as a result of disaster. DMP Plus(SM) policies also make emergency cash available as an option to the standard coverage for homeowners struggling with financial challenges like advance payments to contractors, transportation, food, lost wages, and replacing clothes, furniture, computers and countless other household items.
For more information on ACE Disaster Mortgage Protection Insurance, visit www.dmp-ace.com.