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Omni Builders Risk provides an automated insurance program designed specifically for construction lenders to secure builder’s risk insurance coverage for each project in their construction loan portfolio. OMNI Builders Risk is a blanket builder’s risk policy written with the lender as the primary named insured. The lender uses OMNI’s patented software to add builders as additional insureds to the lender’s policy. The builder still pays the premium, but the rates are discounted up to 25% due to OMNI’s automated efficiency and the large volume of business available from the lender. OMNI Builders Risk is a win-win situation where the builder saves money and the lender gains more security while providing a value-added customer service. There is no cost to the lender to establish an OMNI Builders Risk program and the lender can earn fee income on the premiums paid. OMNI is currently available in Alabama, Georgia, Mississippi and Virginia, and it is working toward regulatory approval in other states.
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