In this episode of The Canadian Private Lenders Podcast, hosts Ryan MacNeil and Neal Andreino dive deep into one of the least glamorous but most critical aspects of private lending, insurance. From title and homeowner’s insurance to blanket mortgage impairment, E&O coverage, and even cyber and key person insurance, they break down what every lender needs to stay protected.
Ryan also shares a real-life million-dollar fire story that could have ended in disaster, but didn’t, thanks to proper insurance coverage. Plus, the duo reflect on conference experiences, chaotic Toronto condos, and celebrate the Blue Jays’ historic World Series run.
If you lend money privately, this episode could save you from catastrophic loss.
Show Notes:
- 00:30 — Welcome to Episode 107 of the Canadian Private Lenders Podcast
- 01:00 — Catching up: conferences, booths, and behind-the-scenes reflections
- 04:00 — Airbnb horror story: 60-story Toronto condo chaos
- 08:00 — The Blue Jays head to the World Series
- 09:00 — Today’s topic: the importance of insurance for private lenders
- 10:00 — Understanding title insurance and how it protects lenders
- 11:00 — When title insurance claims actually pay out
- 13:00 — Transition into homeowners insurance—what most people miss
- 15:00 — The biggest mistake borrowers make: letting coverage lapse
- 18:00 — Blanket mortgage impairment insurance explained
- 20:00 — E&O (Errors & Omissions) insurance: why it’s required in Nova Scotia
- 23:00 — The $1M coverage that cost $40,000 a year—breaking down the math
- 24:00 — Ryan’s real-world example: a million-dollar fire and five possible claims
- 29:00 — The lessons from the fire: how proper coverage saved the lender
- 30:00 — Cyber insurance and the rising threat of phishing/ransomware
- 32:00 — Key person insurance—protecting the business if something happens to leadership
- 35:00 — Final takeaways: the insurances every lender should have
- 37:00 — The Creative Crew shoutout & studio update
- 37:40 — How TikTok exposure is expanding the podcast’s reach
- 38:00 — Closing thoughts and next episode teaser
Resources:
Keystone Capital Group
CPLP Instagram: @cplpodcast
Keystone Instagram: @keycapgroup
Find Neal On:
Instagram: @neal.andreino
LinkedIn: Neal Andreino
Find Ryan on:
LinkedIn: Ryan MacNeil
E-mail: ryan@keycap.ca
