Keeping a Multi-Million-Dollar Development on Track
The Situation
When a lender financing a major affordable housing development needed assurance that insurance requirements were fully satisfied, The ALS Group conducted a comprehensive compliance review prior to closing.
The ALS Solution
Our team identified several critical deficiencies, including missing additional insured endorsements, incomplete Builder’s Risk coverage, and non-compliant cancellation provisions. Working closely with the borrower, broker, and lender, we resolved every issue before funding.
The Outcome
A fully compliant insurance program, an on-time closing, and reduced risk for all stakeholders. By addressing deficiencies early in the process, The ALS Group helped prevent delays and provided confidence that the project was properly protected throughout construction.
