The St. Paul Companies announced that it will begin offering professional liability coverage for insurance agents and brokers to members of the Independent Community Bankers of America (ICBA) effective immediately.
Insurance Agents and Brokers Professional Liability coverage will help protect a bank’s assets in the event liability issues arise. The coverage, which is available through the ICBA/St. Paul Insurance program, is open to life and health and property and casualty professionals.
It features limits of liability up to $30 million. The product covers the sale of mutual funds, annuities and variable life products that allow the purchaser to select various investment vehicles and cash out options. The product also provides coverage for personal injury and advertising injury and defense costs coverage in addition to the policy limits.
The St. Paul has provided coverage to financial institutions for more than 50 years and is the endorsed carrier of the ICBA. The ICBA/St. Paul Insurance Program has been offered exclusively to ICBA members since 1983. The program provides ICBA members with a comprehensive portfolio of business insurance products commonly required by financial institutions.
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