Insurance wrap financial guarantee procedures

For more information, contact an Altika representative.

Expenses:
•    4% insurance premium
•    Underwriting expense: $60,000 (cost depending upon the project)

Procedures:
1.    Client contacts Altika with project information
2.    Altika approves or rejects the project
3.    Client provides paperwork for due diligence
4.    If accepted for insurance wrap / financial guarantee, Altika provides the escrow bank account coordinates of the insurance underwriter
5.    Client wires the underwriting cost and half (½ )of the premium
6.    Underwriter provides draft insurance Binder of the insurance
7.    Client wire the second half of the premium.
8.    Underwriter releases the policy to the client.