Wingspan Launches New Insurance Subsidiary to Mitigate Portfolio Risks

Wingspan Portfolio Advisors has announced the introduction of Wingspan Insurance Services, a new subsidiary created to address growing concerns among servicers, investors and others over risks associated with insufficient insurance coverage in their portfolios. Wingspan Insurance Services offers a range of insurance products and services to cover portfolio needs and beyond, including: ►Collateral Protection Insurance/VSI (Vendor Single Interest) ►Lender-Placed Insurance ►Real Estate-Owned (REO) Insurance ►Gap Coverage (for both debt service and asset value gaps) ►Insurance Tracking ►Tax Service and Certificates ►Catastrophe Modeling and Risk Analysis ►Home Warranty—Mechanical and Structural Coverage ►Auto Insurance ►Alternative Risk Transfer (ART) Strategies “Servicers, investors and other stakeholders know that there are a lot of moving parts in moderating the risks they face every day,” said Steven Horne, Wingspan’s founder and chief executive officer. “By launching Wingspan Insurance Services, we are uncomplicating things for servicers and others so that important insurance concerns don’t fall between the cracks,” Horne says. “We help identify insurance problems and inadequacies in small and large portfolios and provide the services needed to minimize unwarranted exposure.” Wingspan Insurance Services is a result of strategic partnerships with several highly experienced insurance providers with extensive capabilities in financial services insurance products. The new unit is based in Richardson, Texas, near the Wingspan Portfolio Advisors headquarters, and is headed up by Managing Director Vik Jain. “Vik is a talented professional with over 25 years of domestic and international experience in the insurance industry,” said Horne. “Under his leadership, Wingspan Insurance Services has created an array of offerings that leverage the expertise of our partners and provide excellent protection for our clients.”