Bank Underwriters Underwrite for COVID-19

I'm in the final stages of a renewal of a $1b bank in the Northeast.  The current limit on lender liability and bankers professional liability is low, I think.  I asked the agent to get the underwriter to quote higher limits.  Travelers quoted the new limit but requested a COVID-19 supplemental application before they would make the … [Read more...]

Bank Insurance Market Update

In July I posted about changes taking place in renewal insurance premiums. That was not specific to banks and it centered around property and auto insurance. With a few more months behind us, I can say that premiums are definitely going up for bank management liability and fraud-bond insurance. Until August I was seeing insurers increase … [Read more...]