Every business benefits from risk management from finding ways to minimize property loss to the professional liability exposure of client services. Minimizing the financial impact of an event and transferring risk to an insurance company, are all essential components of a business risk management strategy. Whether your financial institution wants to strengthen a current risk management program or start from scratch, Mason-McBride can help you get where you want to be.
With over a century of experience, we understand your business and the daily risks you face. We provide counsel with all financial institutions including local and community banks, credit unions, national banks, investment firms, and mortgage brokers.
What needs to be covered?
There are several different options of coverage to choose from to best fit your business. Notable exposures currently getting attention in the marketplace are:
- Management Liability
- This areas covers a suite of exposures such as Directors & Officers Liability, Fiduciary Liability and Employment Practices Liability. In addition, kidnap, ransom, or extortion exposures can be contemplated as well.
- Professional Liability Insurance
- Also known as Errors and Omissions (E&O), professional liability insurance protects your business from consequential loss due to negligence claims as a result of rendering professional services.
- Cyber Information Risk
- Cyber related losses generally involve loss or damage to data and other intangible assets including customer data and intellectual property and the host of related expenses associated with a loss event. These losses do not fall within the preview of a Commercial General Liability policy.
- Crime Insurance
- This coverage can protect your financial assets if the loss is the result of a crime. A crime policy can provide several different kinds of coverage in the event of employee dishonesty, forgery or alteration coverage, impersonation, embezzlement, kidnap, ransom, or extortion coverage.
Our professional team can help you navigate the insurance marketplace and conduct a risk review. We advise not waiting for an event to audit your program and make necessary adjustments.
Call us at (248) 822-7170 to discuss all of the coverage options to best protect your business. Or complete the form below to connect with one of our professionals and we will get back to you today!