Search
 

Protecting the assets of financial institutions

Willie Sutton famously said he robbed banks "because that's where the money is." Similarly, banks can make attractive accounts for agents and brokers, because that's where the premium is. But unlike Willie, producers have to earn what they get out of

By staff Writer | Updated on October 31, 2006

Willie Sutton famously said he robbed banks “because that’s where the money is.” Similarly, banks can make attractive accounts for agents and brokers, because that’s where the premium is. But unlike Willie, producers have to earn what they get out of banks. The insurance requirements of financial institutions are complex, and it takes a specialist to cover them. Insurance expertise, however, is only part of what one needs to bring to the table. Banks also count on agents and brokers to provide a variety of services, including those that can help keep today’s Willie Suttons at bay. In this article, I’ll explain how we take such a comprehensive approach to working with financial institutions and protecting their assets.

My career in the financial-services industry began in 1983 at American Research Bureau, a collections and data-gathering organization serving the banking industry. In 1989, I became an underwriter of financial-institution insurance at Progressive Insurance Co. In time, I became a senior underwriter for a four-state region.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.