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Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics, announces an enhancement to Foreclosure Alert that identifies—at the point of sale—if a property has previously been in foreclosure. Foreclosure Alert provides actionable information to help insurers minimize the risk from properties currently or previously in foreclosure.

Each month, tens of thousands of new property insurance applications are submitted for previously foreclosed properties. These properties pose the possibility of undisclosed or unknown damage—including neglect, vandalism, and crime—that occurred during the foreclosure process, before the property was purchased. This damage may or may not be fixed before a new homeowner seeks insurance and may not be obvious.

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