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Application of Insurance Offsets for Gulf - SBA - sba

Application of Insurance Offsets for Gulf - SBA - sba 2025

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The document is an audit report on the application of insurance offsets for Gulf Coast disaster loans issued by the SBA. It highlights errors in identifying and offsetting insurance payments, resulting in $385,610 in offset errors across 21 sampled loans. The report emphasizes the need for improved procedures to prevent duplicate benefits and recommends that the Office of Disaster Assistance (ODA) coordinate with the Office of Financial Assistance (OFA) to resolve outstanding issues and implement verification processes for insurance recoveries prior to loan disbursements.

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