MOST independent agents probably would prefer to learn about a new niche in a methodical manner and at a measured pace. Or they could take the approach we did, when we essentially received a crash course on financial institution insurance. That took place in 1982, when Wm. H. Thompson & Co., one of our agency's predecessor firms, acquired a book of business from an agency created to insure a consortium of banks.

None of that agency's personnel came along in the acquisition, but we managed to adjust rapidly and retained every financial institution account. While in the intervening years, some of those banks were purchased by larger institutions and lost to us as accounts, a number of them remain clients of our firm.

Most of our bank clients operate primarily in the Chicago area, although one operates in four other U.S. cities and internationally on a consulting basis. In size, they range from $100 million to $1.5 billion in assets. Some have only one location, others five or more. For the most part, they are closely held. In this article, I'll explain how we serve these clients while looking for new ones to add to our financial institution book. That book includes other financial institution accounts ranging from mortgage bankers to insurance companies.