BancInsure has partnered with KnightBrook Insurance Co. to provide coverage for financial institutions. The BancInsure Program will issue KnightBrook policies for its core products.
“KnightBrook is an ideal partner for BancInsure and will provide additional resources and options to our customers and business partners as we launch the program in the first quarter of 2012,” said Cara Byrne, BancInsure’s president and CEO.
BancInsure will continue the underwriting management and policy services. Products include directors and officers, financial institution bonds, kidnap & ransom, excess deposit bonds, commercial package policies, and lenders single interest.
“Leveraging the core competencies of both KnightBrook Insurance Company and BancInsure will be a key focus of this new partnership,” said Stephen Su, chief underwriting officer of KnightBrook.
BancInsure has focused on community banks for 25 years and has the endorsement of several state banking associations. The Oklahoma City-based company is licensed in 48 states.
KnightBrook is headquartered in Los Angeles, CA, holds an A- financial strength rating from A.M. Best and is a part of the Hankey Group.