ATLANTA--(BUSINESS WIRE)--Today, LGIS Group (LGIS), the pioneer of Commercial Property Loan Insurance (CPLI) for the commercial real estate (CRE) lending industry, announced it has entered into an agreement with Tanner, Ballew & Maloof (TBM), a leading, independent commercial insurance agency in Atlanta, specializing in insuring middle market and large businesses.
Earlier this year, LGIS launched its patented, first of its kind commercial property loan insurance (CPLI) product offering today's CRE borrowers and lenders an effective alternative to the outdated and problematic personal guarantee currently required for CRE loans. CPLI provides strong, institutional grade-rated risk mitigation and increased capital relief for lenders across their CRE portfolios, while giving borrowers peace of mind, sheltering them from personal loss and increasing their capacity for more possible deals by removing the personal guarantee.
“We are excited to bring a new, value-add insurance product to our commercial real estate clients,” said Steve Maloof, Partner at TBM. “LGIS provides a unique solution for a previously uninsurable exposure that will greatly benefit our customers.”
A 20-year leader in providing solutions with a more focused risk management approach to commercial insurance, TBM will now include CPLI in its full range of commercial property, casualty products and premium finance services available to its clients.
“As the number of CRE projects continues to grow, today’s developers need effective products and services to help mitigate their risk and give them peace of mind,” said David Eichenblatt, President and Founder of LGIS Group. “I am pleased to be involved with TBM, a partner that understands the importance of providing their clients with the best available risk management products in the industry, such as CPLI, and the solutions they need to succeed.”
About Tanner, Ballew & Maloof
Tanner, Ballew & Maloof (TBM) has been a leader in Commercial Insurance for over 20 years and has built a reputation as one of the top Independent Commercial Insurance Agencies in Atlanta. They specialize in insuring Middle Market and Large Businesses that can benefit from a more focused risk management approach to insurance.
Since its founding in 1993, their singular goal has been to earn clients’ trust through delivering exemplary risk advice and comprehensive, innovative strategies to support their growth and success. To that end, they have developed the real estate industry’s most extensive insurance and risk management support platform; structured to operate as their clients’ outsourced risk manager.
About LGIS Group
LGIS Group is the pioneer of Commercial Property Loan Insurance (CPLI) for the CRE lending industry. Through its patented, institutional grade-rated loan guarantee insurance, LGIS Group eliminates the need for bankers to secure onerous personal guarantees from valued customers when providing commercial loans to fund their development, redevelopment and value-add projects. As a proven risk transfer and mitigation strategy, LGIS Group provides significant capital relief to bankers, empowering them to increase volume and profitability across their CRE portfolios while increasing the customer relationship and deposits. LGIS Group also provides benefits for borrowers by transferring risk, lowering costs and expanding their overall capacity for deals, as well as intermediaries (i.e. mortgage brokers, insurance brokers) by offering an impressive new market and revenue source for servicing customers from a project's inception to take out.