Miniter Commercial Vehicle Program (Miniter-CVP) is a web-based system that is designed for lenders/lessors that is looking for a simple to use collateral risk transfer solution that automates the insurance tracking process while at the same time protecting their commercial customer relationships.
Our system offers three options.
Miniter-CVP “Write Your Own”
is designed for lenders/lessors who currently use an internal system for tracking borrower insurance. This system allows users a quick and easy method for placing insurance when their internal system
is calling for placement of insurance.
Miniter-CVP “Track Your Own” is designed for lenders/lessors who wish to receive inbound insurance notifications while utilizing a web based fully integrated tracking and placement system.
Miniter-CVP “Outsource Tracking” provides full outsourcing of your
entire tracking and placement operation.
Miniter-CVP is simple to set up and many lenders/lessors are fully utilizing the system in days rather than months that are usually required with traditional insurance tracking systems.
Miniter-CVP is designed so that the lending institution’s loan servicing department maintains full control over customer service, insurance tracking and insurance placement.
The Miniter-CVP policy provides broad based coverage to transfer collateral risk from the portfolio.
Miniter-CVP Program Benefits:
- Pushes the procrastinating borrower to obtain their own coverage as required by your promissory note.
- Eliminates foreclosures due to un-insured borrowers"walking away" from damaged collateral.
- Protects your collateral interest by force placing insurance on the borrowers who are "unable" or"unwilling" to obtain their own insurance.
- Protects your repossessed collateral interest against physical damage that occurred prior to repossession.
