Financial Institutions

EXCEPTIONAL COVERAGE. COMPETITIVE RATES. INDUSTRY EXPERTISE.

Parr Insurance Brokerage works with leading insurance companies to make sure financial institutions have the broadest coverage available for the price. We understand the unique needs of banks and credit unions and work with our carriers to tailor comprehensive risk management programs that include management, bond, cyber, property & casualty and excess deposit bond coverage.

Management, Bond & Cyber Liability

In today’s banking environment it is especially important that banks are protected by insurers that understand the issues facing financial institutions. We work with banks and credit unions to reduce gaps and overlaps in coverage, and address all areas of exposure, including:

• Directors & Officers liability
• Employment Practices liability
• Financial Institution professional liability
• Fiduciary Liability
• Financial Institution Bond
• Kidnap & Ransom
• Cyber Liability

Property & Casualty

In addition to the more traditional types of coverage like general liability, workers compensation, property, and auto liability, Parr also has solutions for foreclosed and force placed properties, repossessed autos and equipment, ATMs, trust properties, and more.

Excess Deposit Bonds

Excess Deposit Bonds provide banks and credit unions deposit protection over FDIC and NCUA insurance coverage. This protection allows financial institutions to attract and retain their most valuable customers, like educational institutions, government entities and high-net-worth individuals. Excess deposit bonds:

• Pay out in the event of insolvency
• Available for all account & depositor types
• Helps the financial intuition avoid pledged securities
• Attracts larger depositors
• Complies with state regulations