Indemnifies mortgage lenders against loss due to ‘portfolio’ properties sustaining uninsured or under-insured damage. The policy is triggered when damage is due to perils against which the mortgagor was required to insure. The policy also responds if the insured mortgagor is unable to recover under his policy for reasons such as insolvency of the insurer concerned. The insured is also protected against its own negligence in failing to maintain a valid insurance as required by any mortgage deed.