Financial Institutions Insurance for a Broad Spectrum of Needs
Financial institutions have a lot to balance. You must meet the increasing needs and wants of customers and employees, while improving performance and complying with changing laws and regulations. We know this exposes businesses to potential liabilities like never before.
That’s why we have a dedicated team of industry experts that can help financial institutions and service providers overcome challenges. This includes:
- Underwriters
- Risk engineering consultants
- Claims specialists
- Operations
Action Video: Industry Spotlight – Financial Services
Heather Savino, Financial Services Industry Practice Lead at The Hartford, and Ziad Kubursi, Head of Financial & Executive Liability at The Hartford, talk about the company’s comprehensive product offerings and services for financial services.
The Expertise to Help You Close More Private Equity Deals
At The Hartford, our strong knowledge of the M&A due diligence process – plus our experienced underwriters – deliver fast, flexible and customizable solutions to help your clients close the deal.
Learn More About Specialized Protection for Private Equity Firms
Specialized Coverage Solutions Designed for Financial Services Businesses
We offer comprehensive product offerings that your agent or broker can customize to meet the specific needs of your financial services business.
Our broad coverages include:
Management and professional liability insuranceto help protect against liability risks that your financial institution’s leaders face. We offer:
- Directors, officers and entity liability coverage (D&O insurance)
- Errors and omissions (Professional Liability)
- Employment practices liability (EPL) coverage
- Fiduciary coverage
- Crime coverage
- General partners liability
Property Choice®helps protect your financial institution’s buildings, facilities, and business equipment. You can work with your agent or broker to tailor coverage so it fits your business’ specific needs. Property Choice includes valuable Coverage Extensions such as:
- Accounts Receivable
- Newly Acquired Property
- Direct and Indirect Contingent Business Income
- Utility Services Interruption
Optional additional coverages are available such as Cloud Computing Services, Professional Employee Replacement Expense, and Business Personal Property at Remote Worker Locations.
Mortgage protection insuranceto address impairment and errors & omissions claims associated with a mortgage portfolio for lenders.
General Liability Choice®to help protect against claims that your business caused bodily injury and property damage. Our financial services liability insurance automatically covers employees. Your agent or broker can also easily extend coverage to others when it’s needed.
Workers’ compensation insuranceto help your financial services employees recover from work-related injuries or illnesses. Our return-to-work program can help your employees recover from injury and get back to work faster.
Cyber liability insurancefor financial institutions to help your business prepare for, respond to and recover from a cyber-attack. With the sensitive, confidential and personally identifiable information your financial services business handles, our CyberChoice First Response PolicySM gives you access to:
- The Hartford Cyber Center, a portal with resources on risk management tools, trainings and best practices.
- A 24/7 incident hotline to assist your business with cyber-attacks.
- Coverages for payment card industry issues, cyber extortion, regulatory investigations and business income interruption.
- Post-Incident Remediation Expense to help you improve your business’ cyber security after an incident.
Umbrella and excess liability, which gives your financial services business worldwide coverage and limits up to $25 million.
Multinational Choice,which helps protect your financial institution from losses and claims in over 200 countries. Even if you don’t have a location outside the U.S. or employees traveling abroad, this coverage is important because regular business insurance policies may not cover claims in foreign countries.
The Hartford Financial ServicesSM Agent and Broker Resources
From success stories to our appetite guide, see our financial services agents and brokers resources.
Identifying Risks Before They’re a Problem for Financial Institutions
Our risk engineeringteam can help find and fix issues before they become a problem for your financial institution. Our specialists use a variety of resources to help make your business safer, including:
- Business continuity planning
- Emergency preparedness
- Premises safety
- Cyber security
- Ergonomic evaluations
- Return-to-work programs
- Resources on controlling losses and limiting exposures
Exceptional Claims Service Dedicated to Financial Institutions
We know how to handle claims. In fact, over the last five years, we’ve handled more than 305,000 financial services claims and paid $784 million.
Our experienced claims and legal assistance teams take a timely, proactive approach to handling claims and whenever possible:
- Avoid court
- Limit publicity
- Assign experienced counsel
Unique Offerings for Financial Institutions
Track Risk. Explore Opportunities. (TREO)SM
Our risk management information system is designed to simplify claims management and help lower loss costs.
ClaimPlus Team®
A team of professionals who work with each client’s operations and risk exposures.
Specialized Support
We make it our business to figure out how to best support our customers. That means fully understanding your needs and risks. You can work with your agent or broker to create a customized insurance policy with specialized coverage for your financial services business.
Find an Agent
1 Financial ratings as of December 31, 2019.
