Financial institution insurance solutions throughout Richmond, VA and all of Virginia.

It’s crucial that you have an insurance plan that helps protect your complex risk. Having insurance may help protect your day-to-day operations. It may also help with managing the financial and reputational risks your business faces.
What types of businesses may benefit from this coverage?

We understand that your needs can vary depending on the type of clients you serve and the business you conduct. We also understand your specific financial institution’s insurance needs. Here are some examples of businesses that may benefit from financial institution insurance:

  • Community Banks
  • Credit Unions
  • Hedge Funds
  • Investment Advisors
  • Private Equity Firms
  • Regional Banks
  • Real Estate Investment Trusts
  • Thrift Banks
Your name is important. Protect it.

In today’s world, many things can go wrong that affect the reputation of a business. In the financial industry, a bad reputation can seriously impact your bottom line, and not in a good way. Reputational risk insurance may provide funds to cover crisis management and pay for reputation restoration efforts. It may also protect you from business losses on account of reputational damage.

We help you get the liability insurance you need.

Your directors and officers carry a lot of weight on their shoulders. This includes the risk of being accused of mismanagement. Directors and officers liability insurance (D&O) may help protect those steering the ship. Similarly, lawsuits can arise from lending activities, including class-action demands and counteractions against foreclosures. Specialized liability coverage to defend such actions is a must.

Cover your business in case of employee fraud.

Financial institutions have access to tremendous amounts of money. That’s why you do everything in your power to only hire the best employees and screen out potential thieves. However, there is still a need to protect your business against dishonesty, forgery, and other fraudulent activities committed by employees. Having a commercial crime insurance policy in place may help protect you in these instances.

Financial institutions are prime targets for cybercrime.

Most businesses can benefit from cyber liability insurance, and financial institutions are no exception. There are many kinds of cyber attacks, as well as data breaches. The losses in such cases can grow very quickly. This includes costs to repair systems, notification requirements, identity protection for those affected, and other expenses.

Financial institutions need common policies, too.

Coverages like general liability, commercial property (including broadened coverage for ATMs), business auto, employment practice liability, workers’ compensation insurance, and more are also necessary for financial institutions. When conducting risk management reviews, standard business insurance needs should not be overlooked. A comprehensive review of policies should be conducted regularly to make sure there are no gaps.

For more information about your financial institution insurance needs, contact us to learn more and to get started.

Let’s discuss your financial institution insurance.

One of our insurance advisors will reach out to you to review your information and present you with the appropriate financial institution insurance solution. There’s no obligation, just good-old-fashioned advice.
KilGO Insurance Agency offers comprehensive financial institution insurance throughout Virginia, including Richmond, VA, Fredericksburg, VA, Charlottesville, VA, and Virginia Beach, VA. We also service Raleigh, NC, Charlotte, NC, as well as Montgomery, MD, and Howard, MD.