INSURANCE ESSENTIALS TRACK: Force‑Placed Insurance – Protection, Triggers, and Industry Impact
Force‑placed insurance plays a growing and increasingly critical role across the servicing landscape. Through real life use cases, this session offers a deeper examination of how force placement works, who it protects, and the operational, legal, and risk‑management considerations that drive its use. Panelists unpack the circumstances that trigger force‑placed coverage, the complexities of evaluating borrower compliance and coverage adequacy, and the implications for lenders, servicers, insurers, and borrowers as this becomes more prevalent in today’s market.
Speakers
Moderator
Laura Smith joined Resilience in 2023 as the Head of Servicing. She has a 28 plus year background in Insurance Compliance, Servicing Operations, Project Management, Process Improvements, as well as implementation of On and Offshore platforms. She has experience as a Master & Primary Servicer and now on the Insurance Consulting/Servicing specialty side of the business. Laura has been a moderator, panelist and white paper contributor throughout her career. Resilience Insurance Analytics serves as an insurance risk advisor to investment banks, equity funds, commercial banking institutions, and non-bank lenders. The team is comprised of over 100 professionals with over 375 years of experience across more than 150,000 transactions, providing pre and post-closing insurance review services.
Speakers
Reed Besselman is a Loan Servicing Manager in the Insurance division at CBRE Loan Services, where he oversees insurance compliance operations across a diverse portfolio of commercial real estate loans. In his role, Reed primarily manages Government Agency portfolios, while also supporting CMBS and institutional investor clients. Reed leads the review and administration of insurance compliance, ensuring borrowers maintain appropriate coverage in accordance with lender requirements. His responsibilities include overseeing the collection and validation of insurance documentation, such as evidence of insurance, renewal policies, and premium payments. He also manages the escalation of coverage deficiencies through force-placed insurance solutions and coordinates waiver and variance requests for lender approval. With a strong focus on risk mitigation and operational execution, Reed plays a key role in safeguarding lender interests while delivering consistent service across complex loan portfolios.
Laura Bushey is responsible for managing Berkadia’s global insurance servicing operations, including compliance monitoring and claims processing. Laura previously held asset management, client relations, and project management positions at Berkadia. Laura has a diverse knowledge of the various types of loans and servicing requirements across life companies, CMBS, commercial banks, private lenders, and agencies. Laura joined Berkadia and its predecessor companies in 2000 and has over 20 years of experience in the commercial real estate industry.
Michael Heagerty is a Principal and the Chief Financial Officer for Gantry. He oversees the financial performance, management, and strategic direction of all business lines within the company. With a focus on expanding Gantry’s platform, he drives operational enhancements, recruiting efforts, and technology initiatives to fuel the growth of the company’s loan production and servicing capabilities. Establishing Gantry’s Loan Servicing Department in 1994, Michael has played a key role in its evolution into one of the top private commercial loan servicers in the country, managing a portfolio representing over $18BB in loans.
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