Insurance for Banks & Financial Institutions
Managing the Risks of Financial Institutions
USI has a long history helping banks and financial institutions balance profitability and risk exposure. Financial Institutions face a myriad of risk management challenges such as global and local economic issues, regulatory compliance, internal employee misconduct, executive liability and technology system attacks. USI’s Banking & Financial Institutions Practice serves commercial banks, credit unions, investment banks, broker dealers, business development corporations, private equity funds, mortgage companies and consumer finance organizations. We provide risk management expertise focused on delivering a positive financial impact while navigating a complex, evolving industry.
USI advises financial institutions on risk management exposures and coverage lines including:
- Fidelity / Financial Institution Bond
- Professional Liability
- Directors & Officers Liability
- Employment Practices Liability
- Fiduciary Liability
- Cyber / Privacy Liability
- Extortion
- Property
- Workers’ Compensation
- General Liability
- Automobile Liability
- Umbrella / Excess Liability
- Environmental
- International
- Mortgage Impairment / Forced Placement Programs
USI also provides a variety of analytical and risk management services such as Claim Advocacy, Risk Control, Benchmarking (for structure and cost), Loss forecasting, Collateral Reviews, Risk Management Information Systems and Contract Review.
To analyze our clients' business issues and challenges, our Banking & Financial Institutions Practice leverages USI ONE®, a fundamentally different approach to risk management. USI ONE integrates proprietary business analytics with a network of local and national technical experts in a team based consultative planning process to evaluate the client’s risk profile and identify targeted solutions. Clients then receive tailored recommendations for improving their total cost of risk in very specialized areas.
Experience the USI ONE Advantage® and learn how our Banking & Financial Institutions team delivers comprehensive solutions in a challenging regulatory landscape. Email pcinquiries@usi.com to learn more or contact your local USI office today.
CASE STUDY:
When a laptop belonging to an executive of a mortgage company was stolen, management feared criminals would gain access to sensitive customer data or personally identifiable information. The potential breach required that roughly 18,000 customers spread across 22 states be notified and their credit monitored. Working with USI’s Management and Professional Service experts, a specific risk management process was immediately initiated that minimized hard costs to $255,000. This sum was further covered by the USI PrivaSafe proprietary facility. During this period, affected customers were notified immediately and provided credit monitoring services.
Not a client yet?
Speak to a representative at your local USI office today!