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Financial institution solutions for insurance companies

January 1, 2013

The benefits of Zurich’s products, services and dedicated financial institution team expertise that can help you stay competitive.

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Financial Institution Solutions for Insurance Companies

Working with your broker, Zurich can help you:

  • Safeguard customer data security and privacy
  • Manage the auto liability risks of employees on the road for business
  • Cover directors and officers (including retired ones) against allegations of mismanagement
  • Mitigate the risks that come with a changing workforce
  • Provide coverage for your in-house legal team
  • Assess the critical components of your Enterprise Risk Management (ERM) program
  • Address most other insurable risks

Dedicated team expertise

Our solutions are built and delivered by financial institution underwriters, claim specialists and risk engineering professionals with the industry knowledge and experience needed to make managing risk more streamlined and effective for you.

  • Our underwriters review product offerings continually to help address emerging and evolving risks in the financial institutions industry.
  • Our in-house, financial institution claim specialists are committed to fast and fair claims service. They are licensed attorneys with an average of 15 years of experience.
  • Our risk engineering professionals offer a variety of risk management tools, education programs and guidance especially tailored to insurance companies.

Risk mitigation services

Zurich’s claim professionals and risk engineers are committed to helping you mitigate risk and reach your business goals. Here are just a few examples:

  • When a property claim occurs, you’ll be connected to an experienced adjuster within minutes to help determine how further damage can be stopped.
  • Our claims and risk engineering specialists can analyze your claim history and risk profile to help you identify causes of loss and areas for improvement.
  • Zurich offers an online ERM assessment for insurance company customers.

We have a number of tools and resources to help you navigate the risks associated with regulations and compliance, including:

  • Virtual Consulting, an online tool to help you identify the top causes of property and casualty losses
  • E-risk Assessment, another web-based tool to assess security and privacy risk
  • EPL Hotline for legal advice on employment practices issues
  • In-depth, risk management guides for D&O, Employment Practices Liability and ERISA Fiduciary Liability

Zurich knows firsthand the world in which insurance companies operate today — a world that’s more regulated, competitive and full of risk. And just as we’ve done for the last 100 years in the U.S., Zurich offers the products, services and dedicated financial institutions team expertise to help you stay competitive.

Financial Institution products for insurance companies

Property and Casualty

Zurich’s property forms offer flexible insurance solutions for U.S.-based, mid-sized lending institutions and multinational companies doing business around the world. Property Portfolio Protection (P3) and The Zurich Edge® are “all risk” forms; that means that unless something is specifically excluded, it is a covered peril.

P3 for mid-sized institutions features broad property coverage:

  • No coverage sublimits for earthquake sprinkler leakage (EQSL), equipment breakdown, ordinance and law, backup of sewers and drains, and more
  • Original information property is covered
  • Contains no margin clause, no vacancy clause and no coinsurance clause

The Zurich Edge® for large corporate and global organizations offers flexibility, higher limits, international service expertise and broad coverages under one property form. It also fits seamlessly within a centrally managed international program from Zurich.

  • General liability
  • Commercial umbrella
  • Workers’ compensation

Commercial Auto

Proprietary coverage enhancement endorsement includes 20 most-requested extensions in a single form; automatically covers exposures that may not have existed when the policy was written.

  • Industry-leading risk engineering resources help promote safe driving.
  • Zurich Fleet Intelligence program offers valuable insights on driver behavior and fleet performance.

Directors and Officers

D&O Select and Private Company Select policies include non-rescindable Side-A coverage to provide coverage for personal assets of directors and officers (includes retired ones).

Security and Privacy Insurance Protection

• Provides first and third party coverage.
• Offers tools to help respond to data breaches and reputation damage.

Employed Lawyers Select®

  • Provides errors and omissions coverage for in-house legal and support staff, as well as contract and part-time employed lawyers.
  • Broad coverage for moonlighting and pro bono work.

Customized Management and Professional Liability Solutions

• Insurance Company Professional Liability
• Insurance Agents Professional Liability
• Financial Institutions Select Bond
• Employment Practices Liability
• Computer Crime Coverage
• Kidnap, Ransom and Extortion
• Fiduciary Responsibility Select

Zurich Compass™

Combines business travel accident insurance with a travel assistance program* that provides medical, security, personal, legal and information support for employees traveling abroad.