Bank Insurance Articles

Bank Insurance 101

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…

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? 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.


Bank Insurance Articles

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

Renewal Ruminations

A reprint of my article from Maine Community Banker.

Bank Insurance Primer

From my writtings for the RMA Journal.

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…

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...

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…

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…

The Definitive Handbook For Bank Directors and Officers

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. Download now…

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.

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