Evolving and complex risk has become the norm for insurance professionals. Our offerings can help provide coverage solutions to help insurance professionals get the protection they need.
Our appetite for insurance professionals varies by state, size of risk and line of business. Please contact your local underwriter to discuss specific opportunities.
In appetite
- Insurance agents and brokers
- Insurance program administrators
- Insurance companies
- Reinsurers
Additional capabilities
The following additional classes of financial institutions can find solutions through our product offerings for asset managers and depository institutions:
- Broker-dealers
- Community banks
- Consultants
- Credit unions
- Family offices
- Financial planners
- Hedge funds
- Investment advisers
- Investment banks and other lending operations
- Mutual funds
- Private equity firms
- Real estate investment
- Regional banks
- Thrift institutions or savings banks
- Trust companies
- Trusts (REITs)
- Venture capital firms
Property and general liability
Property
- Selection of base property broadening endorsements that add or enhance more than 65 coverages
- Equipment breakdown coverage
- Add the financial institutions property broadening endorsement below to a base property endorsement to further tailor industry-specific coverage
- View financial institutions property broadening endorsement
Financial institutions property broadening endorsement 411-1500 Coverage Limits Automated teller machines (ATMs) — described premises Included Automated teller machines (ATMs) — off premises $25,000 Business income and extra expense — cloud services $25,000 Business income and extra expense — websites $25,000 Emergency vacating expense $25,000 Temporary meeting space expenses $25,000 Tenant signs $25,000
General liability
- Suite of general liability broadening coverage that add or enhance over 13 coverages
- View CGL enhancement endorsement - financial institutions
Financial institutions general liability enhancement endorsement 421-5007 Coverage Limits Additional insured — controlling interest Included Aggregate limit per location Included Aircraft – non-owned, hired, chartered or loaned with paid crew Included Alienated premises Included Broad form named insured Included Extended property damage Included Incidental malpractice (employed nurses, EMTs and paramedics) Included Liability for conduct of unnamed joint ventures, partnerships or limited liability companies Included Mobile equipment redefined Included Property damage legal liability
– Broad form
– Fire, lightning, explosion, smoke and leakage from fire protective systems damage limit$1,000,000 Repossessed watercraft Included Supplementary payments — additional limits $1,000 Supplementary payments increased limits — bail bonds $5,000
Professional liability
Ryan Financial Lines' Insurance Agents E&O Program includes an admitted errors and omissions product featuring a broad definition of professional services, including but not limited to claims adjusting, risk management and placing premium financing.
Program features include defense expense outside the limit, first dollar defense, first-party and third-party cyber, limit options up to $5M/$5M, and broad insolvency coverage including AM Best, Demotech and various state guaranty funds.
Additional coverage options
We offer risk management and claims solutions to support the unique needs of insurance professionals and organizations.
Risk management services
Our risk management services provide you with tools to support your customers by combining expert guidance, practical training and innovative technology.
Key features
- Experienced consultants who help identify and mitigate critical risks
- Specialized expertise in the unique property and general liability exposures
- On-site assessments and loss analysis to support actionable safety improvements
- Innovative technologies such as IoT monitoring, drone evaluations and security assessments to enhance risk prevention
- Partnerships with industry associates for risk mitigation products and services, including background checks and employment screening services, emergency response training and water and freeze sensor prevention
Dedicated claims team
Our approach to management and professional liability claims is thoughtful, consultative and responsive, helping our policyholders reach a resolution with clarity and confidence.
Key features
- An experienced team handling property and general liability claims who understand the unique situations that these professionals face
- Specialized team handling professional liability claims, with more than 20 years of experience on average
- A hand-selected panel of trusted attorneys who are well-versed in local laws and legal interpretations
- Strategic roundtables with adjusters, attorneys and claims leadership as needed
At The Hanover, we understand the value of comprehensive protection. Hanover Financial Institutions Advantage protects against the unique risks faced by financial institutions. Unlock The Hanover advantage:
Risk management tools and services
We offer valuable resources for loss prevention information and services, including:
- Online risk management portal
- Preferred pricing on employment screening services
- Panel of cybersecurity experts and more
Competitive products
Our coordinated approach streamlines the insurance buying process, reducing the number of touchpoints with insurance companies and helping reduce potential gaps in coverage. We offer:
- Account-focused solutions
- Industry-specific broadening endorsements
Specialized claims support
Our claims teams have years of industry expertise and experience handling the unique types of claims financial institutions face. Our in-house claims professionals, litigators, defense counsel and extended network of law firms work closely to resolve claims quickly and equitably.
Financial services expertise
At every level—underwriting, risk management, claims and customer service—we’ve sought out an experienced team and backed them with sophisticated product and service offerings.
Trusted partner
We offer the support and financial strength of an “A”-rated leading insurance carrier.
Our appetite for insurance professionals varies by state, size of risk and line of business. Please contact your local underwriter to discuss specific opportunities.
In appetite
- Insurance agents and brokers
- Insurance program administrators
- Insurance companies
- Reinsurers
Additional capabilities
The following additional classes of financial institutions can find solutions through our product offerings for asset managers and depository institutions:
- Broker-dealers
- Community banks
- Consultants
- Credit unions
- Family offices
- Financial planners
- Hedge funds
- Investment advisers
- Investment banks and other lending operations
- Mutual funds
- Private equity firms
- Real estate investment
- Regional banks
- Thrift institutions or savings banks
- Trust companies
- Trusts (REITs)
- Venture capital firms
Industry resources
Resources for you
Resources for your customers
Our Risk Solutions program includes onsite and remote assessments, on-demand learning, self-service tools and custom action plans that address the complex demands and issues facing your clients in the finance industry.
Comprehensive background checks
See all of our Risk Solutions resources for financial institutions
Customer tools
Let's start a conversation today