Financial Institutions Insurance
Let’s build a complete risk management and compliance strategy.
Protect your bottom line
We are more than just an insurance broker. As a financial institutions specialist, we are solely focused on the lending industry. We understand the regulatory requirements around vendor management of third-party service providers and have significant investments in vendor management readiness.
We work closely with you to understand your specific lending environment, analyze your business processes and create solutions tailored to your institution’s financial and operational goals, whether you seek to protect your lending portfolios, increase your revenue stream or cover your financial institution liabilities.
Learn more about our custom solutions for banks, credit unions, finance companies and mortgage servicers.
Contact a HUB advisor to get started.
Portfolio Protection
As a lending institution, one of your biggest risks is protecting your portfolio. We provide program design, operational support and analysis around your collateralized lending programs.
- Lender-Placed Hazard, Flood, Wind
- Outsourced Insurance Tracking (Residential and Commercial)
- Mortgage Impairment
- Blanket Mortgage Protection
- REO Hazard, Flood, Wind
- General Liability
- Creditor-Placed Insurance (CPI)
- Blanket Lenders Single Interest (LSI/VSI)
- Outsourced Insurance Tracking
We protect your financial institution from unnecessary enterprise risk exposure through specialty financial institution insurance coverages.
- Bankers Professional Liability: Coverage for losses resulting from wrong professional services acts, including losses relating to extensions of credit, agreements or refusals to extend credit, loan servicing or the collection or restructuring of any extension of credit.
- Cyber Coverage: Insurance designed to cover risk associated with losses arising from banking technology and practices.
- Debit Card Fraud Coverage: Coverage for loss as result of the fraudulent use of debit, credit and other “plastic cards” used to make purchases or extract cash from an ATM or POS device.
- Fiduciary Liability: Coverage that protects against lawsuits brought by employees for losses resulting from the administration of any employee benefit plan offered by the financial institution, including investment and retirement plans.
- Financial Institution Bond Policy: Coverage for loss due to employee dishonesty, burglary or robbery, forgery or alteration and other similar crime exposures experienced by financial institutions.
- Management Liability for Financial Institutions: Coverage designed to protect a financial institution’s directors and officers against losses arising from wrongful acts. Directors and Officers working in their capacity as decision makers could be held personally liable for the consequences, even if their actions were unintentional. Shareholders or customers who believe these decisions hurt them may take legal action against the individuals and/or the organization, and defense costs could add up quickly.
- Employment Practices Liability for Financial Institutions: Coverage for losses arising from wrongful employment acts not covered under Management Liability in your capacity as an employee or officer of a financial institution.
- Trust Services Liability: Coverage that protects against losses resulting from wrongful acts while acting in the capacity as administrator, conservator, guardian, custodian or trustee in rendering or failing to render trust services.
We strengthen your balance sheet while helping you bring value to your consumers through compliant direct-marketed, loyalty and affinity fee income programs.
- Accidental Death & Term Life Insurance
- Checking Account Strategies
- Credit and Mortgage Life & Disability
- GAP
- Identity Theft
We offer a full range of expert consulting services to identify risks, reduce exposure to loss and manage claims issues. We can help you with:
- Organizational resilience
- Cyber risk management
- Workforce productivity
- Claims management
- A risk management information system
- Safety management
We can help you develop a comprehensive, multi-year employee benefits strategy that is scoped, scaled and tailored for your organization to cover:
- ACA Compliance
- Voluntary Benefits
- Cost Management
- Health and Performance
- Employee Engagement
- HR Technology and Benefits Administration