Resources for Financial Institutions

Stand-Alone Coverages

The Hartford Private Choice PremierSM for Community Banks

Privately-held community banks are not sheltered from management liability exposures. No matter the precautions taken there's risk inherent in everyday operations. They must meet the ever-increasing needs and wants of both customers and employees while improving performance and complying with changing laws and regulations. Exposing them to potential liabilities like never before. To help address this risk, The Hartford Private Choice PremierSM for Community Banks offers some of the most sought-after coverage features in the insurance industry. This enhanced product is a modular form with up to five coverage parts:
 
Flexible coverage that works with business exposures and needs:
 
  • Flexibility to select up to five coverage parts
  • Purchase a separate limit of liability for each liability coverage part or a single aggregate limit for all liability coverage parts
  • Select different limits for each coverage part
     

Applications

 

Endorsements

 

Marketing

Financial Institution Bonds

Target: We have a strong focus on registered investment advisers/asset managers. We can provide both ERISA (Employee Retirement Income Security Act) compliance coverage (protecting ERISA client assets) and first party coverage (protecting registered investment advisor assets) for this financial services class. We also target insurance companies, mutual funds, private equity firms/funds and venture capital firms. Banks and thrifts can also be considered.
 
Our financial institution bonds are proprietary The Hartford forms with many coverage enhancements available by rider. Our offering includes:
 
  • The Hartford CrimeSHIELDSM Advanced policy can be endorsed to cover the investment adviser’s ERISA and non-ERISA plan clients for theft of plan assets by the investment adviser employees. Investment advisers that assist ERISA plan trustees (their clients) with investment strategies are considered “fiduciaries” that must be bonded
  • Financial institution bond for investment companies
  • Financial institution bond for insurance companies
  • Investment company bond (for writing mutual fund compliance coverage)
  • Financial institution bond for Banks
  • Financial institution bond for non-bank lenders (for use with finance companies and non-bank lenders)

ERISA Bonds

Limits of $5M and Under
 
To meet the need for ERISA fidelity bonds among small to midsize business owners, we offer:
 
  • Stand-Alone Fidelity Coverage – Although ERISA coverage is often added to a company’s standard crime policy, The Hartford offers a streamlined fidelity bond specifically for this purpose. In the event of an embezzlement involving both company assets and employee benefit plan assets, the employee benefit plan must be repaid first. Because this has the potential to exceed coverage limits, to ensure company operations can be made whole, consider adding this stand-alone coverage.
  • Clear Language – Our ERISA Fidelity Bond incorporates the terminology “funds or other property” and ”fraud or dishonesty” directly from the statute, and provides automatic coverage for ERISA employee welfare or pension benefit plans of the sponsoring company, without having to name each plan. By using language directly from the law, our bond helps provide the broad coverage your business clients need for compliance with ERISA standards.
Limits Over $5M
 
For customers in need of coverage limits greater than $5 million, we can help you tailor a solution. Please reach out to your local FI Underwriter.

 

New Business Applications

Renewal Applications

Supplemental Applications

Target: All publicly-traded and privately-held real estate investment trusts, including members of REIT associations.
 
With underwriting staff focused on the Real Estate Investment Trust (REIT) industry, The Hartford has become a market leader in REIT management liability protection. With this wealth of experience and dedication, have a strong commitment to the REIT community, competitive premium and retention options, market-leading coverage, and underwriting and claims expertise.
 
This policy protects directors and officers of real estate investment trusts against loss (damages and defense cost) arising out of their status or conduct as directors or officers. Common claims allege breach of duty, security law violations, and misrepresentation. Coverage also extends to securities claims that name the entity. Optional coverage is available for non-securities claims against the entity.

 

New Business Applications

Forms

Package Policies

The Hartford Asset Management ChoiceSM Policy

Target: Asset managers, including private registered investment advisers, hedge funds, mutual funds and other wealth management firms and advisers.
 
The Hartford Asset Management ChoiceSM Policy offers investment firms the ability to design coverage by electing all or a combination of investment adviser professional liability, directors and officers liability, investment company directors and officers liability and investment company professional liability, and affiliated service provider liability. The Policy helps protect investment advisers, mutual fund directors/trustees and hedge funds against claims resulting from wrongful acts specific to their industry – whether they arise in the provision of professional services or involve other emergent areas of risk, such as cyber.
 
Combined with our Middle Market standard lines solutions (Property, General Liability, Commercial Auto, Workers’ Compensation and International coverage), The Hartford provides investment advisers with the broad protection they need and the service they deserve.
 

Applications

Forms

Marketing Materials

The Hartford Private Equity Choice® Policy

Target: Tradition PE, Growth PE, Venture Capital, Real Estate Funds, Mezzanine Funds, SBIC Funds and Fund of Funds
 
The Hartford Private Equity Choice® Policy responds to the complex needs of private equity and venture capital firms structured as limited partnerships, general partnerships, joint ventures, corporate D&O/partnership D&O (combination), trusts, limited liability companies (LLCs), limited liability partnerships. The policy helps protect directors, officers, managers, principals and general partners of and funds against loss (damages and defense cost) arising out of their status or conduct as such. Coverage is also provided for regulatory proceedings targeting the firm and professional services rendered by the firm and its employees. Further, outside directorship liability is available for directors who sit on boards of portfolio companies. Common claims allege breach of duty, regulatory violations, unfair market conduct, controlling shareholder liability, and prospectus misrepresentation.
 

New Business Applications

Forms

Marketing Materials

Directors & Officers Liability and Errors & Omissions Liability Policy

Target: Property & Casualty, Life or Accident & Health insurance companies with at least $1 billion in policyholder surplus,* A.M. Best ratings of A- or higher, multiple product lines and geographically dispersed risk characteristics. Coverage is intended for companies that are financially sound with established management teams and strong corporate governance.
 
This policy protects insurance companies against loss (damages and defense cost) arising out of extra-contractual obligations as well as their status or conduct as directors or officers. Common claims allege bad faith in the claims handling process, breach of duty, security law violations, and unfair competition.
 

New Business Applications

 

Forms

Side - A DIC

The Hartford Priority Protection PlusSM

Target: Financially sound companies with strong corporate governance across all industries. We will also consider harder to place risks such as financially distressed or highly leveraged companies.
 
Broad form non-indemnifiable D&O coverage, also known as "Side A" coverage protects individual directors and officers when they cannot be indemnified by their company. This policy can be written as broad form primary, excess difference-in-conditions (DIC), or independent director-only (IDL) coverage.
 

Forms

Excess Coverage

The Hartford Premier ExcessSM Policy

Target: Public and private organizations of all sizes
 
In today's challenging environment, seamless excess coverage is particularly important for managing enterprise, legal and regulatory risks. The Hartford’s new simple, follow form Premier ExcessSM Policy provides market-leading protection to help streamline your process for placing excess coverage over most management and professional liability products, including:
 

Policy highlights include:

  • A concise one-sentence follow form insuring agreement;
  • Streamlined exhaustion wording; and
  • Less excess baggage, with a limited number of provisions;
  • User-friendly form saves you time and helps streamline your process
  • Excess Crime (Fidelity) coverage is available through The Hartford Universal Excess® Simplified Policy.
As an added benefit, this coverage is underwritten by the same knowledgeable underwriter who would handle the primary coverage.
 

Forms