Gallagher Verify Relationship
Dear C-PACE Borrower,
You were recently sent a letter, dated February 20, stating that the Connecticut Green Bank is undertaking an insurance compliance audit with the help of Gallagher Verify, a division of Arthur J. Gallagher Risk Management Services, LLC, and our new insurance compliance partner. Your C-PACE financing agreement includes a requirement for a minimum level of insurance and for you to provide evidence of this. Our new arrangement will enable the Green Bank to more easily confirm your coverage. Gallagher Verify will be assisting us with the collection, processing, and tracking of insurance certificates. In this role, they will reach out to you on our behalf, working with you and your agent to facilitate compliance with your financing agreement’s requirements.
Please have your insurance agent send the following certificates of insurance (COIs) for the property referenced in the letter you recently received to Gallagher Verify via email: property, general liability, and any excess policy, as well as accompanying lender’s loss payable and additional insured endorsement forms. Minimum coverage required by your agreement is explained here. These coverages are expected to be in place for the duration of the C-PACE repayment period. After this email, Gallagher Verify follow up directly with you and your agent if the certificates are not received or if they are not compliant. Thereafter, they will monitor the expiration dates and reach out before your coverage expires.
We realize that everyone is on the alert nowadays for phishing activity. In addition to this page serving as a point of reference on the validity of this request, you can email us directly at our insurance inbox for verification. We suggest you discuss this arrangement with your agent. The service we are employing is well known in the industry, as is Arthur J. Gallagher & Co.
Finally, please also advise us if you are not the appropriate contact for these requests so that we can update our records.
Thank you.
