Due to the unique nature of financial institutions, several additional coverages must be considered along with the standard insurance policies. These coverages round out your insurance program, insuring that adequate protection is provided.

Chattel Loan Coverage
This policy is designed to protect your interests in personal property which is used as security for loans including automobiles, watercraft, mobile homes, or other items not affixed to real property. Back to top

Consumer Credit Compliance
This coverage is used to protect you from actions brought against you for non-compliance with the following federal consumer regulations: truth in lending, fair credit billing, equal credit opportunity and electronic funds transfer. Back to top

Contingent Lawyers E & O
This coverage is used to protect you in the event that an independent attorney, engaged by you, is sued in connection with your operations and has inadequate limits of Lawyers Professional Liability insurance. Back to top

Credit Card Protective
This policy is used to protect against loss resulting from credit card fraud or other specified credit-related problems. Back to top

Credit Transfer E & O
This coverage is used to insure against damage alleged from your failure to pay a bill which you have in escrow. Back to top

Employee Counsel E & O
This coverage is used to insure against claims involving in-house attorneys who provide services for the public. Back to top

Environmental Legal Expense Ins.
This policy is designed to cover suits brought by the EPA, OSHA, SCC or other government entities for pollution, contamination or seepage originating from property acquired through foreclosures of loans which you hold in trust. It will reimburse you for the expenses of court costs, deposition reports, expert witness fees and attorney fees. Back to top

Excess Depository Insurance
This coverage is used to insure depositor's funds in excess of the FDIC's maximum limit of $100,000 for the amount listed in the policy. Back to top

Financial Institution Blanket Bond
This insurance is used to provide protection against loss resulting from criminal acts involving burglary, larceny, theft, robbery, embezzlement or forgery. It covers a number of types of property including money, securities, bonds, deeds, mortgages or other valuable instruments and several types of non-instrument property such as gems, gold or jewelry. Back to top

Government Action Expense Ins.
This coverage is used to provide reimbursement for expenses of suits or criminal prosecution arising out of civil actions by governmental agencies. It is important since many D & O policies exclude coverage for claims resulting from regulatory action. Back to top

Holder-in-Due-Course Insurance
This coverage will insure lending institutions against loss resulting from a customer's refusal to pay for goods which are unsatisfactory. This is important since current FTC rulings allow consumers who are in dispute with sellers over a product's performance or quality to withhold payment to the lender who financed such transactions. Back to top

Investment Counselors E & O
This coverage is used to insure you against claims arising out of alleged negligent acts, errors or omissions while acting in the capacity of an investment counselor. Back to top

IRA/Keogh E & O
This coverage is written to insure against claims alleging loss in the selling, administering and giving of advice in conjunction with IRA and KEOGH plans. Back to top

Leasing Liability and Physical Damage
If your portfolio includes lease financing, both property and liability protection is required on a primary or contingent basis. This coverage is used to insure against exposures in connection with such leases. Back to top

Lenders Protective
This indemnity policy is used to protect you if a borrower fails to pay off his loan because of sickness, unemployment, etc. The insurance company obligates itself to make up any deficit or loss suffered by you. Policies can be written for a variety of loans including new and used autos, recreational vehicles, first and second mortgages on real estate, mobile home loans and others. Back to top

Lloyds Mortgage Protection Policy
This policy will cover standard Mortgage E & O/Impairment insurance as well as several mandatory and optional coverages including:

1. Physical loss or damage from customarily required perils.
2. Real Estate Tax liability.
3. Life and Disability Insurance liability.
4. Flood Disaster Protection Act of 1973 liability.
5. Liability for G.N.M.A. procedures.
6. Contingent Title Insurance liability.
7. Physical loss or damage from balance of perils.
8. All risks of loss or damage to insured's own property (excluding
fire, EC, and other perils insured under other policies).
9. Extra Expense (all risk) coverage.
10. Loss of VA, FHA, SBA, and private Mortgage guarantee coverage.
11. Defective Title Insurance coverage
Back to top

Loaned Securities Indemnification
This coverage is designed to protect institutions who administer security lending programs for clients, which results in a loss the institutions incur due to a shortage of collateral. Back to top

Master Blanket Property Coverage
This policy is designed to provide automatic liability and physical damage protection when you acquire ownership interest through foreclosure or other situations (such as a mortgagee failing to supply evidence of insurance at the time of closing). Back to top

Miscellaneous E & O
This coverage is used to insure against loss resulting from your acts, errors or omissions that arise out of the performance of those professional services that are scheduled on this policy. Back to top

Mortgage Impairment Coverage
This coverage is designed to protect your interest in property owned by mortgagors who have obtained loans from you. It is triggered when a borrower fails to secure coverage and the property is damaged by a covered peril. It allows you to eliminate follow-up systems to assure that proper coverage is in force on mortgaged property. Back to top

Mortgagee E & O (CP0070)
This coverage is designed to protect you against loss to your interest in real property and your legal liability that results from your errors or omissions in securing or maintaining insurance policies in connection with mortgage loans. Back to top

Now Account E & O
This coverage will protect against claims arising out of errors or omissions in the improper transfer or failure to transfer funds to or from negotiable order of withdrawal (N.O.W.) accounts. Back to top

Residual Guarantee Coverage
This policy is used to protect lessor's and/or lending institutions against unexpected decline in market value of leased vehicles upon termination of lease agreements. Back to top

Securities Lending Indemnification
This coverage is designed to protect you in the event that you, with permission, lend customers' securities to brokerage firms on a short-term basis. If the failure of the stockbroker to repay the securities is a result of its bankruptcy or insolvency, this policy would then respond. Back to top

Stop Payment Liabilty
This coverage is used to insure you against claims arising out of (1) compliance or non-compliance with a depositor's stop payment order, or (2) refusal to pay a depositor's check or draft. Back to top

Trust Department E & O
This coverage is designed to protect you against claims for damages arising out of alleged errors and omissions while acting as an administrator under a trust agreement. Back to top

Trust Property Coverage
This coverage is designed to provide automatic protection for liability and physical damage exposures arising out of properties for which you are acting as a fiduciary. Back to top