CBC Underwriters Inc and Rockwood Programs Inc. are offering a new program for many types of financial institutions and lenders as outlined below. CBC is acting as an exclusive MGA for Fortegra Specialty Insurance and Rockwood Programs is acting as the program administrator. The program is written on a surplus lines basis presently; but Fortegra is also filing an admitted version of this program.
Below is a summary of the coverages offered:
Product: We are targeting depository (banks) and non-deposit-based entities, traditional as well as unique insurance solutions for managerial liability (D&O, E&O, EPL, Lenders Liability, Corporate Fiduciary, Trust E&O, etc.).and also financial institution crime bond exposures.
Fortegra Specialty Insurance
A.M. Best A- Excellent
Program Limits: Up to $5,000,000. Additional limits also available in the Fac Marketplace through facility and in London through our partner CBC UK London team.
Managerial/professional liability exposures are D&O-driven and fidelity exposures Fidelity Bond-driven (endorsements to these coverages); i.e. BPL, EPL or Lender Liability, etc. will not be written mono-line. EPL is sub-limited to $2,000,000.
Desired Classes Considered
Closely held private trust companies.
Deposit and Non-deposit style lenders, i.e., community banking institutions, mortgage bankers/brokers, auto lenders, asset based-lenders, community development funds, etc.
Backroom Operations: Rockwood Programs Inc. (issues policies, surplus lines tax filings, etc.)
Claims Handling: Wilson-Elser
Phone Number: (931) 308 7171 – Bill Hess, President and Head of Underwriting