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9 A FLOOD OF TROUBLES As our nation grapples with the domino effect of a global pandemic, unprecedented shifts have surfaced in the servicing industry in ways yet to fully be discovered. In times of uncertainty, and especially in times of rebuilding, the attention of property investors turns to insurance—and for good reason. According to the Insurance Institute for Business & Home Safety, more than one in four businesses hit by a disaster never reopen. While this applies to natural disasters, similar outcomes from weathering a global pandemic are being assessed. e housing market is projected to be deeply impacted as well. Given this shift, property owners and investors are now in search of ways to improve and protect their assets. Protecting assets becomes especially important as many investors may also have vacant properties during this season. e savvy property investor can begin to overcome uncertainty by investing in insurance products that remain in place if the property is between renters or vacant during rehab or improvements. An example of an industry leader and insurance provider for property investors, Vendor Resource Management Insurance Agency (VRMIA), in partnership with OSC Insurance Services, provides insurance solutions for properties owned by investors or properties owned by companies. VRMIA's accessible products include competitive comprehensive investor property insurance, errors and omissions (E&O), and occupational accident insurance (limited). Also, an ideal feature for investors, especially during a crisis, is that coverage remains in place if the property is between renters or vacant during rehab or improvements. In addition, investors will have loss of rent coverage for up to 12 months should their property become uninhabitable due to physical damage. When considering options for the vitally important role of insurance provider, knowing the provider's ecosystem and backing can provide peace of mind. VRMIA is part of the VRM Real Estate Alliance (VRMREA), a community of companies in partnership to deliver comprehensive, industry-specific services and key philanthropic events. VRMREA includes founder Keith D. Murray's family of companies with a 35-year industry track record, including: PCV Murcor, VRM Mortgage Services, Hightide Settlement Services, and, of course, Vendor Resource Management Insurance Agency. e alliance's parent company, VRM, spent significant time responding to multiple communities impacted by disasters. Vendor Resource Management (dba VRM Mortgage Services) provides portfolio managers reliable, high-quality outsourcing services for the management of their REO assets and has listed, marketed, managed, and sold over 600,000 properties for clients. On-the-ground support interacted with investors when hit the hardest and sometimes, when at their lowest. e property investors candidly shared their challenges while working alongside VRM representatives. VRM support and leaders learned directly from investors that they were finding themselves under insured in times of crisis. With this critical pain point in mind, VRM's leadership envisioned a much-needed solution that not only covers property investors in the way they've said they need, but one that also illustrates VRM's commitment to preserving communities and being a top-down solutions and service provider. VRMIA was born. "VRMIA, in partnership with OSC, is an exciting and ideal venture to deepen our efforts in resolving client-specific pain points, while helping to preserve communities," said VRM Founder, Keith D. Murray. "We took note of the unique needs of property investors, so our mission to support and respond accordingly made establishing the agency for property investors the right decision." VRMIA leaders know that the needs of a real estate investor are unique, and that each property in an investor's real estate portfolio requires its own attention to detail to avoid gaps in insurance coverage. Understanding the nuances, VRMIA ensures that any policy changes an investor makes will take effect immediately—keeping the real estate portfolio fully protected. We may not be able to predict how our nation's new normal will take shape. But we can, as the servicing industry, pivot together, share solutions, and support the ones created by professionals who simply "get it." For more on Vendor Resource Management Insurance Agency, visit VRMIA.com. SPONSORED CONTENT