University of Bank Insurance

welcomeblackboard.001My University of Bank Insurance is your source for assistance, info, and help with all bank insurance issues – insurance for bankers who buy insurance for their banks.

Bank Insurance In Three Minutes

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bank d&o cover

The Bank D&O Guide

The Definitive Handbook For Bank Directors and Officers – published in 2013. My latest thinking on the topic. It contains information geared to community bank directors. What coverage is a part of the policy? What are common exclusions and issues to worry about? How does personal insurance provide coverage? (It doesn’t.) Questions to ask your insurance agent. General marketplace info. The definitive guide to bank directors’ and officers’ insurance.

 

Management Liability Insurance In Three Minutes

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Bank Insurance Coverage Review

Without an unbiased bank insurance review, how do you know if there is a mistake in your bank’s insurance program? What if there is an exclusion you don’t know about? What if some coverage is missing or improperly designed? What if your coverage is with the wrong insurance company, and the policy form is not the broadest available? More...

Fraud-Bond In Three Minutes

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Bank Insurance Newsletter

Six times a year our subscribers get insurance advice and information not available anywhere else. Topics are geared to the needs of bankers who manage the insurance for their banks.

Standard Lines Insurance In Three Minutes

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How Much Insurance Should Your Bank Buy?

Download the latest edition of my coverage recommendations for banks. The most common question I am asked is “How much insurance should my bank buy?” Get the answer HERE

Lender Asset Protection In Three Minutes

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Bank Insurance Problems

Here are just some of the problems and issues I have found in my recent reviews of bank insurance:

  • A bank with ten branches and no extra expense coverage on any of them.
  • Property insurance policies with coinsurance penalties that kick in after a loss.
  • Incorrect listing of insured entities on the liability, auto, and umbrella policies.
  • No debit card fraud coverage on the financial institutions bond.
  • No safe depository insurance on a bank’s six locations with safe deposit boxes.Bank Insurance Diagram Cover FINAL
  • Low directors’ and officers’ limits of liability combined with inadequate aggregate limits of coverage.
  • A bank with several missing locations from their package policy.
  • A bank insurance plan with inadequate e-banking protection but exceptionally low property deductibles.
  • Poorly written employment practices coverage that did not cover workplace harassment.
  • No coverage on repossessed vehicles on the auto insurance program.
  • No coverage on a bank parking garage where over fifty cars were parked all day.
  • Inadequate umbrella liability limits of coverage, plus no coverage for foreclosed properties.

Bank Insurance Review FAQ

The questions I get most often about the insurance review process. How it works and what is included. What is my approach? What issues do I address? What’s the time-line?

Renewal Ruminations

A reprint of my article from Maine Community Banker.  

Bank Insurance Primer

From my writtings for the RMA Journal.

Civil Money Penalties Insurance

How to Fine Tune Your Bank’s Insurance Program

Article reprint from Maine Community Banker. Quick hit ideas and help in all areas of a bank’s insurance program – D&O, general liability, auto, fraud-bond…


 

The Bank Insurance Teleseminars – What You Need To Know

Teleseminar Recordings For Bankers Who Buy Insurance For Their Banks – Each Session Recorded Live From A Teleseminar.  Average time per session is forty-five minutes.

phone_numberBank Insurance 101 2.0  – The basics of bank insurance in forty-five minutes. What’s covered by the bond, the executive risk, the D&O. Advice on property, liability, auto, and umbrella coverage.

phone_numberRenewing Your Bank’s Insurance  – The tools and tricks you need to renew your bank’s insurance program. I discuss optional approaches, give inside information on tactics, and answer questions from the audience. This call caused more stir and comment than any other teleconference I have done. One participant said she didn’t think her agent would want her knowing this stuff. Who am I to say? (Wink)

phone_numberClaims Management  – I discuss claims “best-practices.” Property, liability, executive risk, bond… Information you will not find anyplace else. (The sound quality on this file is a bit rough. Sorry. Tech glitch.)

phone_numberExecutive Risk and D&O Insurance  – I summarize the coverage, give some hints as to what to look for in your policies, and give you some ideas so you can be more comfortable with talking to your agent about the coverage.

phone_numberKidnap, Ransom, and the Finer Points of the Bankers Bond  – Some of the lesser discussed areas of the banker’s fraud-bond, plus a discussion on civil money penalties insurance.

phone_numberMortgage Impairment, Mortgage Errors and Omissions  – The basics of lender asset protection insurance, including mortgage E&O, lenders single interest, and forced placed insurance. Fast-paced session that includes a great deal of information.

phone_numberWhat You Should Know About Your Bank’s Insurance  – Sixty minutes of information on the basics of the insurance your bank has/should have. One of our most well-attended sessions. I got many comments on the information I included in this seminar. Some suggested it was Insurance 201. Download the recording and listen on your computer or on any MP3 player.

phone_numberDirectors’ and Officers’ for Dummies – I discuss the issues and traps that I find in my client’s bonds. I talk about limits of coverage, exclusions to avoid, and the changes I am seeing in the marketplace.

phone_numberBanker’s Bond Bugaboos – Forty-five minutes filled with the issues and traps that I find in my client’s bonds. I talk about limits of coverage, exclusions to avoid, and the changes I am seeing in the marketplace. Free bank insurance download.


 

Insurance Due Diligence for Banks

How do you know if there is a mistake in your insurance? What if there is an exclusion you don’t know about? What if a coverage is missing or improperly designed? What if your coverage is with the wrong insurance company and the policy form isn’t the broadest available? Officers and directors of banks are duty-bound to protect the assets of the bank. A key component of asset protection is ensuring that your insurance program meets the needs of your bank. More... Bank Insurance Newsletter

Builders Risk Insurance for Banks

Builders’ risk insurance policies cover buildings during construction, renovation, or repair. Insurance coverage is provided on the structure and materials used in construction. In most cases, materials are covered while in transit, at temporary storage locations, and while stored at the job site. More…

Diary of A Bank Insurance Review

The day-by-day timeline of an unbiased review of bank insurance coverage.  What happens and when in the process.

 

Why Hire A Bank Insurance Consultant

Nineteen Reasons Banks Should Hire A Bank Insurance Consultant

  1. Your bank’s insurance premiums have gone up. An insurance consultant can help you find the right insurance at the best price.
  2. You are not sure your bank has the right insurance coverage. As insurance specialists, bank insurance consultants know the right policy terms and conditions.  More…

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Simmonds on Bank Insurance – The Newsletter

Six times a year our subscribers get insurance advice and information not available anywhere else. Topics are geared to the needs of bankers who manage the insurance for their banks.

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