1.
Tracking: whether you track
your portfolio's insurance
or look to outsource this service, ELPA can
help.2. Reimburse
your cost: of obtaining
insurance on your
customer's behalf. As an ELPA member you can
defray
these costs with a service administrative fee (SAF)
and earn additional fee income
for handling certain
administrative functions on behalf of ELPA.
3. Force place:
you can force place insurance
when your
customer defaults on insurance requirements.
4. Convenience:
eliminate funding delays; with
ELPA you
can have coverage immediately. It's your
own policy.
5. Control:
as an ELPA member you can control
funding or
portfolio sale delays due
to lack of coverage and/or proof
of insurance, inadequate coverage or lapsed coverage
and
losses resulting from uninsured collateral.
6. Strengthen
Relationships: you can build
stronger
relationships with vendors by bringing them additional
business when replacement equipment is purchased
through the original vendor.
7. Loss Protection:
Members can benefit from the
power of
an association. The total membership loss ratio
will be
considered, and may protect a member with excessive
losses from cancellation. |