Property Casualty for Financial Institutions
Travelers knows property casualty insurance
Travelers coverages address the unique property casualty (P&C) exposures of financial institutions. With P&C coverage through Travelers, you can have confidence that your financial institution is protected. Our customized products help cover the real and personal property that your financial institution owns, rents or leases, as well as the liabilities related to your locations and operations.
Property casualty insurance is a category of insurance that includes policies designed to protect against a wide range of accidents, threats and losses. Property insurance helps cover damages to your financial institution's buildings, business personal property and equipment. Casualty insurance helps protect your financial institution from liability when accidents happen.
For example, P&C insurance helps provide coverage when an employee or customer is injured while on the job or on your company's premises or a fire breaks out and destroys critical computer equipment and customer records.
Make sure you have the right insurance to help respond to unforeseen events.
Why choose Travelers?
Travelers offers a full range of insurance for financial institutions. From core P&C to specialized coverages specific to financial institutions, we can help you design an insurance program to fit your company’s unique needs.
What does P&C insurance cover?
Property – Coverage for your building, business personal property and equipment.
General liability – Provides protection against claims of bodily injury, property damage, personal injury and advertising injury.
Auto – Covers your company's use of motor vehicles while doing business.
Workers compensation and employer's liability – Covers employee injuries occurring while at work as well as injuries arising out of and during the employee's employment.
Umbrella and excess liability – Offers higher limits over the standard protection for our general liability, auto and employer liability coverages.
Specialized coverages – This may be added via optional endorsement to ensure a premier level of protection. Travelers offers specialized P&C insurance to cover unique exposures such as off-site ATMs, foreclosed properties, mortgage holder's errors and omissions, security interest errors and omissions, repossessed autos, properties held in trust and contingent leasing exposures.
Learn more about insurance for financial institutions.
True Story: Once Upon a Slippery Trip
If a customer slips, trips or falls in your financial institution, does your insurance carrier have the medical expertise and sophisticated innovation to navigate the claim outcome successfully?
A common scenario such as this one can have either a potentially tragic or a happy ending. Which will it be for the bank featured in this story? Take a listen.
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TRUE STORY
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A snowy Saturday in January turned into one tough day for a bank customer and a costly lawsuit for the bank. Presented by Travelers Insurance
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Once Upon a Slippery Trip
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It seemed like an ordinary trip to the bank. But, when Jean walked into the bank that snowy Saturday in mid-January, there was no way she could have known that her day was going to take a turn for the worse.
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Jean's transaction with her usual teller was about as routine as it could be. But her wet boots and a misplaced rug caused an unfortunate fall and an even more unfortunate hip injury.
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Unable to walk, Jean was taken by ambulance and treated at the nearby hospital. Her recovery, like the health care cost, was significant.
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Since Jean was a customer, the bank fully expected to be liable for Jean's medical bills.
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However, what the bank did not count on was the lawsuit that followed. Increased litigation and medical cost inflation are key drivers of general liability losses.
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With Travelers as your carrier, if a slip, trip or fall occurs at your financial institution, you can count on our medical expertise and sophisticated and innovative technology to deliver optimal claim outcomes and mitigate loss costs for you.
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Travelers’ nursing professionals consulted with claim representatives on cause, costs and appropriateness of treatment. They also provided critical medical insights to help defend and support the bank.
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Luckily for Jean, she recovered fully. And fortunately for the bank, they had Travelers General Liability coverage behind them.
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The moral of the story? With Travelers’ expertise and extra level of protection, a slippery trip at your bank can have a similar ending.
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Contact your Travelers representative to learn more
Travelers Casualty and Surety Company of America and its property casualty affiliates. One Tower Square, Hartford, CT 06183
This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverages referenced in this document may depend on underwriting qualifications and state regulations. Claims scenarios are based on actual claims, composites of actual claims, or hypothetical situations. Resolution amounts are approximations of both actual and anticipated losses and defense costs. Facts may have been changed to protect confidentiality.
© 2023 Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
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