Balboa Insurance Group Introduces Risk-Based Protection(SM)

Balboa Insurance Group Introduces Risk-Based Protection(SM)
- Financial Institutions and Their Customers to Realize Tremendous Benefits -



IRVINE, Calif., March 10  /PRNewswire/ -- Balboa Insurance Group, Inc. today
announced the launch of Risk-Based Protection(SM), offering a new approach to
its lender-placed property hazard insurance that protects a financial
institution's interests, while giving value to clients and ultimately to their
customers.  This innovative product concept has been rigorously tested with one
of the largest mortgage loan portfolios in the country and has demonstrated the
ability to provide lower costs to a majority of borrowers.

"The risk-based approach addresses important needs in this product line and can
offer substantial benefits to both the lender and their borrowers," said Craig
Carson, president, financial institutions division, Balboa Insurance Group. 
"The traditional approach to lender-placed insurance has followed a
one-size-fits-all model, typically charging one insurance premium rate per
state regardless of individual property characteristics.  Our new risk-based
approach uses a set of property criteria to determine premium rates, which
could ultimately mean lower costs to borrowers without sacrificing levels of
coverage that protect the lender."

Features and highlights of Balboa's Risk-Based Protection(SM) program include:

   *  Rate customization to an individual borrower's property based on
      occupancy status, age of dwelling, proximity to fire services,
      location and other factors.
   *  Borrowers may realize lower-costs as compared to traditional
      lender-placed insurance, which helps create greater customer
      satisfaction and good will that may enhance a lender's reputation.
   *  Coverage amounts, limits and other terms and conditions are identical
      to Balboa's traditional lender-placed insurance products.
   *  Available for both residential and commercial properties within a loan
      servicing portfolio.



"With our Risk-Based Protection(SM) program, lenders have an excellent product
that  helps them manage risk, while simultaneously offering borrowers a
potentially lower-cost, lender-placed alternative until they purchase insurance
in the voluntary market," said Carson.  "Lenders have a real opportunity to
seize competitive advantage with this product."

For more information about Balboa's insurance programs, call 1-800-854-6115 or
visit http://www.balboainsurance.com/.

About Balboa Insurance Group, Inc.

Insurance company subsidiaries of Balboa Insurance Group, Inc. (BIG), which is
a subsidiary of Countrywide Financial Corporation, have been offering insurance
products for more than half a century.  BIG's insurance company subsidiaries
consist of Balboa Insurance Company, Meritplan Insurance Company, Newport
Insurance Company, Balboa Lloyds Insurance Company, Balboa Life Insurance
Company and Balboa Life Insurance Company of New York.  Risk-Based Protection
lender-placed hazard insurance is underwritten by Balboa Insurance Company or
Meritplan Insurance Company.  Terms, conditions, limitations, and exclusions
apply.  BIG is rated "A" (Excellent) by the A.M. Best Company, an insurance
rating and information service.  An "A" rating represents A.M. Best's opinion
that the BIG insurance companies have an excellent ability to meet ongoing
obligations to policyholders.  BIG is headquartered in Irvine, California, and
has a network of sales and service centers throughout the country.  To learn
more about BIG, please visit http://www.balboainsurance.com/. 

DATASOURCE: Balboa Insurance Group, Inc.



CONTACT:  Amber Cousins, or Ed Essa, both for Balboa Insurance Group,

Inc., [phone]



Web site:  http://www.balboainsurance.com/ 

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