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Marco Padilla
Pro Member
  • Investor
  • Philadelphia, PA
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98
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What happened to NREIG????

Marco Padilla
Pro Member
  • Investor
  • Philadelphia, PA
Posted Feb 6 2024, 12:34

Incompetency and Mismanagement by NREIG Insurance

I am writing to express my deep frustration and disappointment regarding the recent incompetence and mismanagement displayed by NREIG Insurance. We have been a loyal customer of NREIG for quite some time, but the events that have transpired in the past few months have left me extremely dissatisfied with their service.

To provide some context, we recently discovered that NREIG had unilaterally cancelled the insurance policies for three of our properties, all of which were in escrow. Unbelievably, we were not notified about these cancellations, and it was only when the banks contacted us that we became aware of the situation. Naturally, I immediately contacted NREIG to seek clarification and resolution.

Shockingly, the response I received from NREIG was merely an admission of their own negligence. They revealed that the bank had paid for the policies, yet they failed to bill the bank the difference since they upped our insurance rates without notifying us, and neglected to inform us of the cancellations. Despite my repeated attempts to seek a resolution and clarification from NREIG, their representatives assured me that the issue was being handled, only to leave it unresolved and unaddressed.

Now, to my utter disbelief and frustration, the bank has informed me that we are responsible for the lack of coverage during this entire period. It is incomprehensible that I have been left exposed and vulnerable without insurance coverage from December 18, 2023, to the present date, February 6, 2024 - a lapse of almost two months. This level of professional negligence and disregard for customer wellbeing is utterly unacceptable.

Moreover, I find it deeply troubling that the person at NREIG who is supposedly in charge of my account, Devin, has not once reached out to me despite numerous voicemails and email notifications. This lack of communication further exemplifies the apparent disregard for customer service and accountability within the company.

Now today they're explaining that they can back date the coverage to January 1st 2024. This is ridiculous how they can just up the price of the insurance & not notify anyone. I will say this is as of the past year or so that we have had problems with them. Before then it was all aces, not sure if they are under new ownership or what it is however I can say their service has gone downhill as of the past year. Originally I had a business credit card on file and come to find out they were 2 of the properties which had the insurance and taxes in escrow we were still being charged for. After addressing that issue in the beginning of last year (and not getting compensated for them double dipping) now we have this fiasco to deal with.

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Courtney Urbanek
Pro Member
  • Specialist
  • Kansas City, MO
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32
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Courtney Urbanek
Pro Member
  • Specialist
  • Kansas City, MO
Replied Feb 7 2024, 07:27

@Marco Padilla,

Thanks for sharing your thoughts. I apologize that your experience with us lately has not met expectations. We take pride in our communication practices and will take your feedback to heart for continuous improvements. Per our Program Participation Agreement, all clients receive rate change notification via email with 30 days notice and cancellation notification for non-payment with 10 days notice. It sounds like you have spoken to our team over the past two days and we hope we were able to provide an acceptable resolution. We value you as a loyal customer and hope to continue to earn your business.