Wingspan Portfolio Advisors launched a new insurance unit to address growing concerns among servicers, investors and others over risks associated with insufficient insurance in their portfolios. Vik Jain, managing director at Wingspan, will head the new unit. Steven Horne, founder and chief executive of the company, said the new unit is "uncomplicating things for servicers and others so that important insurance concerns don't fall between the cracks." "We help identify insurance problems and inadequacies in small and large portfolios and provide the services needed to minimize unwarranted exposure," Horne said. Jain said the new unit is designed to perform these roles with a customized approach rather than a one-size-fits-all approach. "The key to controlling insurance risk on portfolios lies in having a broad range of products, as well as the ability to track loans to ensure they are covered properly," according to Jain. Write to Jason Philyaw. Follow him on Twitter: @jrphilyaw