Financial Services Business Insurance

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Financial Institutions Face Varied Risks

Financial institutions including banks and insurance companies face more and varied risks. Think data loss and theft, errors in processing client paperwork, issues related to foreclosures, and more. Even so, financial executives can feel more confident knowing The Hartford is there to help them reduce risk and prevail through crises, lawsuits, and unexpected events.
Recommended Coverage for Financial Institutions
Helps to protect the property a financial institution owns and leases, including things like equipment, inventory, furniture, and fixtures. Coverage can also be tailored to fit the specific needs of different financial businesses.
This can include coverage if:
  • The business is unable to process electronic data.
  • The firm loses income because utility services are interrupted.
  • The business is unable to complete transactions because transmission lines are damaged.
Our General Liability Choice® policy from The Hartford covers bodily injury and property damage, including damage to rented properties, and accidents related to running a financial institution. This policy can also help protect the assets of a financial institution if it is sued for negligence, personal injury, libel, slander, errors, omissions, misrepresentation in advertising, and more. The policy automatically covers employees and can easily be extended to cover others when needed.
Helps protect against management liability risks faced by financial institutions and their leaders. Our offering includes:
  • Directors, Officers and Entity Liability Coverage (D&O) – helps protect financial institutions, their directors, officers and certain others against loss that arises out of the day-to-day operations and management of the company.
  • Employment Practices Liability Coverage (EPL) – helps protect financial institutions from damages and defense costs that arise out of employment-related disputes included but not limited to alleged discrimination, sexual harassment, violation of the Family and Medical Leave Act, refusal to hire and wrongful termination or discipline.
  • Fiduciary Coverage – helps cover employee claims related to the design, administration and maintenance of company-sponsored retirement, health, and other employee benefit plans.
  • Crime Coverage – helps protect financial institutions against loss from employee theft, computer fraud, and other similar crimes.
  • General Partners Liability – helps protect general partners of limited partnerships against losses resulting from claims alleging breach of duty, regulatory violations, unfair market conduct and prospectus misrepresentation.
  • Representations and Warranties Coverage (R&W) – helps financial institutions reduce common merger and acquisition (M&A) risks for both buyers and sellers.
Helps financial institutions protect against the high cost of a lawsuit arising from client allegations of misrepresentation, fraud, or negligence.
The Hartford’s end-to-end cybersecurity solutions help protect financial institutions from the potentially severe effects of a broad range of third-party liability and first-party risks associated with data privacy and network security, including hackers, malicious software, rogue employees, hardware theft, employee error and more.
Helps cover ATMs located on your property and at other locations.
Helps cover securities that are lost, stolen or destroyed while in transit.
Helps cover newly acquired property owned by the business, within limits.
Extends existing property and/or liability coverage to include buildings your business acquires as the result of foreclosure proceedings.
Helps protect a financial institution from claims made against it if someone is injured on property that the firm is holding in trust.
Provides certain coverages for automobiles repossessed by a financial institution.
Provides protection for the bank's exposure to their mortgage loan portfolio combining property, liability and Errors and Omissions coverage into one form.
The Hartford offers U.S. domiciled companies a spectrum of coverage that goes far and wide. Whether you need to cover employees traveling abroad or a whole overseas enterprise, The Hartford can offer the right package of protection with options ranging from The Hartford Passport Package to The Hartford’s Controlled Master Policy (CMP) with local multinational policies – in one coordinated insurance program.
Helps financial institutions survive a significant liability claim that exceeds the limits of primary coverage.
Additional Solutions for Financial Institutions
The Hartford is a leading provider of Workers’ Compensation Insurance. XactPAY® offers pay-as-you-go workers’ compensation premium payments based on actual monthly payroll figures to help better manage cash flow fluctuations and minimize audit adjustments. Best of all, this is offered at no extra cost.
Helps cover the vehicles that a business owns, leases, rents or borrows – on the road and off. At no additional cost, commercial auto insurance helps cover electronic equipment in vehicles, lease and loan gaps, and provides a wide range of specialized services designed to help businesses improve their drivers’ safety.
The Hartford’s innovative Risk Engineering team strives to help companies run safer and ultimately more profitable businesses with loss control services that include risk exposure evaluations, consultations, and recommendations for improving businesses’ safety and security.
The coverages and services described herein are summaries only. All policies should be read carefully to determine exclusions, limitations and other terms and conditions. In the event of a conflict, the terms and conditions of the policy will govern. All coverages and services may not be available for all businesses or in all states. Please contact your agent or broker for details.

Coverage is underwritten by Hartford Fire Insurance Co. and its property and casualty insurance affiliates. In California, this insurance is written by Sentinel Insurance Company, Ltd. (CA license #8701). In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In WA, this insurance is written by Hartford Fire Insurance Company, Hartford Casualty Insurance Company, Hartford Accident and Indemnity Company, Hartford Underwriters Insurance Company, Sentinel Insurance Company, Ltd. and Hartford Insurance Company of the Midwest.