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Helping financial institutions manage their risks

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

By John Alberts | Updated on October 31, 2004

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.

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