ISG Launches Construction Project for Lending Institutions, Investors

April 1, 2009

Insurance Specialty Group LLC (ISG) has partnered with several homebuilding specialist firms and contractors in founding Home Builder Specialty Group (HSG). Available nationwide, Home Builder Specialty Group provides lending institutions and real estate investors a turn-key solution for unfinished single and multifamily residential construction projects taken over due to developer and builder foreclosures.

Lending institutions and real estate investors can access a one-stop shop to complete the projects and prepare them for sale. The services offered include: project valuation, expert construction, inspection and repair of partially and fully completed homes, support systems and reporting, landscape architectural enhancement, mold inspection and mitigation.

ISG brings risk management and comprehensive insurance exclusive to this program with its Asset Protection Program. APP combines a national framing and foundation structural warranty with general liability coverage, which is designed to protect a bank or investor’s assets against construction defect claims and related litigation. APP provides the tools for the bank or investor to capture construction liability exposure in contract law versus “tort” law.

“With the turn of events in the construction industry, banks and investors are assuming new risks such as construction defect issues which are not typically covered by traditional insurance policies. Our goal with the Home Builder Specialty Group program is to get the banks back into the lending mode while maximizing the value of their underlying real estate asset,” said Jim Leach, executive vice president of ISG.

For more information, visit www.HSGassetsolutions.com.

Was this article valuable?

Here are more articles you may enjoy.