financial institutions. News

QBE North America Launches Management Liability & Professional Lines Coverages

QBE North America’s continues its expansion into the management liability & professional lines arena with the launch of three new products for public and private commercial companies and financial institutions and non-profit businesses. The three products currently available in the new suite …

Zurich Launches Risk Management Tool for Financial Institutions

Zurich has launched a new Enterprise Risk Management (ERM) healthcheck assessment tool for financial institutions.  The tool was created to assist financial institutions in response to recent regulations making them more accountable for risk management. “The ERM Healthcheck helps financial …

Ironshore Adds Financial Institutions Practice

Ironshore Inc. has added a new global practice focused on financial institutions and expanded its industry leadership structure to address the select, industry-specific insurance market risk. Christopher Brown of Ironshore’s Pembroke Managing Agency, based in London, has been named practice leader …

D&O Lawsuits by FDIC on Record-Setting Pace: Cornerstone Research

This year’s Federal Deposit Insurance Corp. (FDIC) litigation over failed financial institutions is already exceeding that of the previous three years. According to a new report by Cornerstone Research — Characteristics of FDIC Lawsuits against Directors and Officers of Failed …

Zurich Expands Community Banking Products to Zurich Agency Services Agents

Zurich is now working with Zurich Agency Services, Inc., to expand its community banks offering additional agents and brokers. As part of this effort, Zurich worked with ZAS, formerly Universal Underwriters Insurance Services, Inc., to develop an online portal that …

Beazley Launches Enhanced Computer Crime Policy

Beazley plc has launched new computer crime and account takeover coverages for financial institutions. The enhanced computer crime policy is designed for the continually evolving services and applications that financial institutions are offering their clients. It also addresses the constantly …

Chubb Launches Cyber Endorsement Addressing Bank Account Takeover Frauds

The Chubb Group of Insurance Companies has launched a new endorsement to help protect community banks from a more than three-fold increase in fraudulent online commercial transactions. The new endorsement to the ForeFront Security by Chubb Community Bank Bond expands …

Torus Adds Media Liability, Financial Institution Coverages

Torus has expanded its U.S. management liability and professional lines practice with the addition of two new specialty insurance products: media liability coverage for the media & entertainment segment; and financial institution bonds offering for the financial institution customer segment. …

OSC Launches Tenant Protection Program for Rental Property Owners

OSC, an insurance and risk management services and products provider for large and small financial institutions, has launched a Tenant Policy Offering (TPO) protection program for owners of rental properties. TPO pairs job-loss/unemployment protection with tenant liability insurance coverage. The …

Financial Firms Having to Adjust to Aggressive Consumer Protection Bureau

The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far. In the 14 months it has …