Achieve superior protection through the personal service of leading experts.
Banks, insurance companies and investment management firms face complex risks. Regulatory shifts present increasing compliance difficulties and increasing costs. Attracting and retaining talent remains an area of concern. Staying ahead in the face of global economic shifts and uncertainty remains a challenge in the competitive market. Further, adapting to changing technologies and innovating while covering cybercrime risks creates another web of liabilities. All the while, the fundamental necessity of maintaining customer trust in this industry requires that these risks be addressed with precision and care.
NFP offers a simple proposition specifically for insurance buyers at financial institutions as they navigate the modern industry environment. The Financial Institutions Group brings together a team of insurance experts with years of knowledge in every facet of financial institution risk management, and can support your organization through insurance brokerage advisory and placement.
We Are Industry Specialists
We understand the risks unique to financial institutions and how underwriters evaluate their risk profiles. We know the insurance companies and underwriters that cater to financial institutions. We trade in the global markets: US, Bermuda and London and have a successful track record of success in up and down-market cycles. We are actively immersed in the financial industry at large.
With an industry leading portfolio of over 500 clients we are best positioned to keep our clients apprised of current market conditions: pricing, capacity and legal trends.
Crafting Insurance Programs That Fit
Our goal is to design insurance programs “ﬁt for purpose” that will perform during claims. From the start, we help our clients choose the right counterparties that will partner with them during market cycles and claims. Leveraging our long-standing relationships, we arbitrage solutions in the global insurance markets. Client program decisions are supported with leading data, analytics and technology. Critically, we know how to get claims paid eﬃciently and provide tenacious day to day service.
Integrated Legal, Technical and Claims
We are a strategically assembled and integrated team, consisting of brokers (former underwriters), coverage attorneys and claims technicians. This is the same team that helps our clients before, during, and after claims. It starts from the very beginning with our differentiated coverage negotiation: our attorneys partner with our brokers in negotiating coverage.
We’re dedicated to placing the right coverage at the start so that the policy performs and responds during a claim. Our team provides counterparty evaluation to aid our client’s choice of carrier partners and track market conditions based on our client portfolio. Our lawyers work alongside our clients by providing strategic advice regarding both the merits and insurance issues — and know how to drive a matter towards successful resolution.
Steeped in Fundamentals, Enhanced by New Technology
Our service team is obsessed with the details — the blocking and tackling! We ensure that each client gets the very best service with fluid day-to-day communication, partnering with our clients when questions arise. We believe we are our work product and strive to produce high quality professional presentations, which are informed, succinct and easily understood. Our teams are staffed appropriately, providing our clients with the right amount of expertise and access to our senior leaders. We follow a strict process driven service model starting the renewal of all placements early and ending early.
Areas of Expertise and Product Specialties
Financial and Professional
- Directors and officers
- Professional liability
- Employment practices liability
- Crime/financial institutions bond
- Lender single interest (blanket auto)
- GAP insurance (auto)
- Mortgage impairment (servicing E&O)
- Master property/liability/flood (hazard)
- Equity protection
Property and Casualty
- General liability
- Worker’s compensation
Our Financial Institutions Group has a national presence. Reach out to learn how our industry specialists can assist you in establishing a high-quality insurance program for your institution.