Financial Institutions
With some of the most knowledgeable Financial Institution specialists in their fields, Lockton is dedicated to providing the highest level of expertise and service in an increasingly complex industry.
You will benefit from the strong relationships we have developed with the world’s most reputable insurers. This is particularly important given the limited insurance market for Financial Institutions. In addition, our in-house loss control, surety and claim specialist teams provide all the resources you need on a global scale.
You will benefit from our expertise in coverage including:
- Agents errors and omissions
- Class action suits involving shareholders (Directors’ & Officers’ Liability)
- Employee dishonesty issues/agents coverage
- Employment practices claims
- Fiduciary liability issues
- Compliance and issues
Our services include:
- Accounting practice
- Captive practice
- Collateral analysis
- Environmental liability analysis
- Exposure analysis
- Loss forecasting and analysis
- Mergers and acquisitions practice
- Retention analysis
- Risk financing design and evaluation
Lockton Service
Service starts with listening. We take the time to understand your specific goals, design a program that fits your needs, aggressively negotiate coverage, and implement a service plan. You will have the same dedicated service team throughout the entire process which allows us to anticipate your needs and create accountability.
It’s all about you. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
Long-term thinking. Clients stay with us based on our expertise, creative solutions, seamless global resources and outstanding service. Our client retention rate of 95 percent reiterates our commitment to each and every client.
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Success Stories: |
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Premium savings of 20% achieved through creative coverage structure
A large financial services client challenged Lockton to produce significant premium cost savings and multi-year stability in its Executive Risk and P&C insurance programs. After considering numerous approaches, an integrated excess aggregate was proposed, blending excess limits across multiple lines of coverage (Directors’ & Officers’, Errors & Omissions, Employment Practices Liability, Property, Umbrella) over a three-year period. The program featured an aggregate stop loss component, allowing the client the cap its financial exposure to a fixed number over a multi-year period. The proposal also offered premium savings in excess of 20 percent.
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