The Hartford product targets banks and credit unions with less than $2 billion in assets, investment firms with less than $2 billion in assets under management, and insurance companies with less than $2 billion in written premium.
Through The Hartford, Venture Banking will offer broad standard commercial lines coverage, including property, mechanical breakdown, general liability, commercial auto, workers’ compensation and umbrella liability, in addition to several industry-specific coverages, such as foreclosure, trust, automobile repossession and mortgageholders’ insurance. In addition, for institutions above the one billion asset level, management liability coverages are offered through The Hartford’s Hartford Financial Products division, including directors & officers (D&O) insurance, errors & omissions (E&O) coverage, employment practices and fiduciary liability insurance.
Also available are financial institution bonds, which provide protection against catastrophic losses due to employee dishonesty, forgery and computer fraud, as well as products to meet miscellaneous surety needs. All insurance coverages are individually underwritten and may not be available in all states.
For more information on Venture Banking, contact Richard Look at (800) 282-6247, ext. 280.
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