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33 PREPARING FOR DISASTER: PROCTOR LOAN PROTECTOR IS GEARING UP FOR AN ACTIVE WILDFIRE & HURRICANE SEASON NOAA's Climate Prediction Center estimates 2021 to be an above-average hurricane season with 13-20 named storms, 6-10 hurricanes, and 3-5 major hurricanes. In 2020, the United States experienced a record-setting Atlantic hurricane season. e 2020 North Atlantic hurricane season caused over $51 billion in damage. e National Interagency Fire Center predicts the 2021 wildfire potential to be higher than normal in the western half of the United States. Compared to 2020, drought in this region has changed drastically with more extreme drought and exceptional drought. A provider of lender-placed insurance for financial institutions, Proctor Loan Protector's 45+ years in the insurance industry brings a wealth of claims handling experience as the industry gears up for another expected busy wildfire and hurricane season. Proctor Loan Protector operates as a Managing General Agent (MGA), which means that the company has been granted underwriting authority by several of its carriers and can administer insurance on the carrier's behalf, such as binding coverage, handling claims, and providing customer service. As the largest MGA in the lender-placed insurance industry, there are several benefits experienced by Proctor Loan Protector clients with this model. Proctor Loan Protector has relationships with multiple carrier partners. is multi-market access qualifies the company to provide long- term insurance solutions irrespective of changes in a client's portfolio or industry conditions. As carriers' appetites for specific business lines, geographic concentrations, and loss ratios change, Proctor Loan Protector can provide program stability even as catastrophic events such as hurricanes and wildfires occur. e claims adjudication process is especially important as homeowners navigate the aftermath of a natural disaster. Proctor Loan Protector employs a team of in-house claims professionals who are trained in empathetic borrower care and use a proprietary claims management tool. is means borrowers experience an empathetic and efficient lender-placed claims process when working with Proctor Loan Protector. is MGA Model means that Proctor Loan Protector advocates on behalf of its clients and strives to provide a positive experience for their borrowers. In addition to lender-placed insurance, Proctor Loan Protector also offers loss draft services to its clients. When a borrower's home is damaged and a claim is filed with the insurance company, Proctor Loan Protector undertakes the processing of loss drafts on behalf of the client. As the named insured on the insurance proceeds check, clients trust Proctor Loan Protector to oversee the repairs on the property and disburse the insurance funds. Proctor Loan Protector's loss draft services are designed to effectively administer loss draft processing for all borrower-purchased hazard insurance claims, effectively freeing a financial institution's staff from the time-consuming burden of processing these tedious, task-oriented claims. With technology solutions and experienced teammates trained in compassionate customer service, Proctor Loan Protector provides efficient, effective, and empathetic handling of borrower-purchased policy claims tailored to meet a client's business needs and industry regulations. Proctor Loan Protector provides bench strength to deliver administrative relief during stressful claim intake and claim management periods, especially during peak volume and natural disasters. If your financial institution is interested in learning more about Proctor Loan Protector's lender-placed insurance program and loss draft services, visit their website at ProctorLP.com. SPONSORED CONTENT