Insurance For Banks, Asset Management Firms, & More
Financial institutions face unique challenges when protecting themselves and their clients from both external and internal liabilities. For comprehensive risk management, King Insurance provides flexible insurance policies and bonds, and we’re always happy to answer any questions to help create a tailored package catered to minimize risks for you, your clients, and your employees.
Get the coverage you need so you can safely keep your business moving forward. Contact King Insurance today to discuss our flexible business insurance plans and receive a free, no-obligation quote.
Coverage For Financial Services Industries
Every day, you provide financial services to your clients, who trust you to make the best decisions with their money. With this comes a high level of risk, from honest errors to fraudulent activity. These risks can culminate into expensive litigation. Without proper coverage, your business can come to a screeching halt, with losses so detrimental you may be forced out of business. We can help mitigate risks with customized coverage for the following industries.
- Commercial Banks
- Credit Unions
- Depository Institutions
- Mortgage Companies
- Broker Dealers
- Insurance Companies
- Asset Managers
- Hedge Funds
- Mutual Funds
- Private Equity Firms
- Registered Investment Advisors & Family Offices
- REITS & Real Estate Investment Firms
- Venture Captial Firms
Insurance Plans For Financial Institutions
Employment Practices Liability Insurance (EPLI) provides protection and compensation for costs and damages that may be incurred in the event of employee-related claims, which may include wrongful termination, discrimination, harassment, and retaliation. Almost every business is the target of an employee lawsuit at one point and it’s essential to have the proper protection.
ERISA Fidelity Insurance is often a requirement and protects employee benefit plans in the event of fraud, dishonesty, or other criminal actions.
Fidelity Insurance & Crime Insurance can both provide protection for you and your clients from fraudulent or careless acts committed by employees, including errors, fraud, forgery, theft, and other violations. This can cover assets including money, personal belongings, computer equipment, supplies, and more.
Fiduciary Liability Insurance protects your company and its fiduciaries from liabilities in regards to employees’ benefit plans. These bonds are usually paired with other commercial bonds for full protection.
Professional liability insurance, also known as Error & Omissions Insurance, provides unique protection for businesses in the financial industry, and can cover litigation costs for negligence, misrepresentation, inaccurate advice, and violations of good faith.
General liability insurance provides coverage for bodily injury and property damage but does not provide protection for employees injured on the job, vehicle accidents, professional mistakes, or legal punitive damages.
Commercial property insurance covers property located on the inside and outside of a business, including but not limited to computers, filing cabinets, documents, office furniture, signage, and the building itself.
Workers’ compensation is a requirement and protects both you and your employees in the event that they are injured on the job.
Commercial auto insurance provides coverage specifically for injuries and damages that occur in a company vehicle.
Umbrella coverage provides additional coverage in the event that a lawsuit exceeds the limits of your current insurance policies, including general liability and auto.
Business Insurance Agents
If you are interested in learning more about our available business insurance policies for your financial institution, contact our insurance agency to speak to one of our experienced business insurance agents!